Inter-Pacific Research Sdn Bhd said that after a two-day consolidation, the key FBM KLCI index could mount a rebound to end the week on a firmer note.

KLCI seen hovering between 1,600 and 1,610 on Friday

Apex Securities Bhd expects the local bourse to continue to trend sideways following the FBM KLCI’s retreat after hitting the 1,600 resistance level amid weakened sentiment across global stock markets and investors awaiting fresh catalysts.

Apex Securities expects local bourse to continue to trend sideways 

The FBM KLCI’s uptrend has been relentless since mid-April as accumulation on blue chips by both local institutions and foreign funds continues, according to Rakuten Trade.

Banks, construction to be in focus as FBM KLCI could test 1,600 soon, says Rakuten Trade 

Inter-Pacific Securities Sdn Bhd said the FBM KLCI’s technical indicators remain overbought, and this could extend the downside pressure on these constituents.

In its daily bulletin on Thursday, the research house said the KLCI ended its upward streak on Wednesday as profit-taking activities set in to send the key index lower.

KLCI’s technical indicators remain overbought, says Inter-Pacific

Hong Leong Investment Bank (HLIB) Research said in the near term, the FBM KLCI is expected to remain choppy (support: 1,500-1,520), as investors weigh the ongoing February reporting season, a delay the US Federal Reserve’s rate-cut trajectory, and the sustainability of the Shanghai Composite Index’s recent rebound.

KLCI expected to remain choppy in near term, says HLIB Research

Asian stocks were set to follow a selloff on Wall Street, with bond yields rising as traders comb through remarks from a slew of Federal Reserve officials and await Jerome Powell’s speech for clues on the interest-rate outlook.

Equity futures for Japan, Hong Kong and Australia pointed to declines after the S&P 500 almost wiped out its weekly advance, while losses in the Nasdaq 100 topped 2%. Treasury two-year yields, which are more sensitive to imminent policy moves, climbed above 5%. The greenback advanced against all of its G-10 peers on Thursday (Aug 24), with the Australian and New Zealand dollars falling the most in more than three weeks.

Asian stocks to follow US drop before Powell speech

KUALA LUMPUR (Jan 3): Hong Leong IB Research expects 2023 to be a less stormy year for Bursa Malaysia (but certainly not a smooth journey), following a cumulative two-year loss of 8.2%.

In a traders’ brief on Tuesday (Jan 3), the research house said that currently, CY2023’s valuation is...

2023 to be less stormy year for Bursa Malaysia, says HLIB Research

KUALA LUMPUR (Nov 22): Hong Leong Investment Bank Research (HLIB) said that as a hung parliament election outcome is unprecedented for Malaysia and the possibility of higher political risk premium and regulatory risks (due to the unexpected strong showing by PAS), the FBM KLCI may witness further...

FBM KLCI may witness further volatility ahead, says HLIB

KUALA LUMPUR (Nov 21): Inter-Pacific Research Sdn Bhd said that with no clear winner in the recently concluded elections, market conditions are likely to be volatile at the start of the week as the political impasse will leave investor sentiments wary

In its daily bulletin on Monday (No...

Impasse could see a knee jerk reaction to politically sensitive stocks, says Inter-Pacific 

KUALA LUMPUR (Nov 17): Inter-Pacific Research Sdn Bhd sees the near-term outlook for the FBM KLCI remaining soft as market players continue to shy away from the market as they await the outcome of the 15th general election.

In its daily bulletin on Thursday (Nov 17), the research house ...

Inter-Pacific sees near-term outlook for FBM KLCI remaining soft 

KUALA LUMPUR (Nov 16): Hong Leong IB (HLIB) Research expects the FBM KLCI to stay choppy (resistances: 1,469-1,482-1,500; supports: 1,408-1.424-1.436) ahead of the long weekend holidays and 15th general election (GE15) polling, as market participants adopt a cautious “wait-and-see” attitude.
...

FBM KLCI to stay choppy ahead of GE15 polling, says HLIB Research 

KUALA LUMPUR (Nov 15): Rakuten Trade said the FBM KLCI closed lower on Monday (Nov 14) amid some profit-taking activities attributed a mixed regional performance.

Nonetheless, the research house in its daily market report on Tuesday said it noticed market undertone remains strong as the...

Energy sector may experience some headwinds on Tuesday, ringgit seen between 4.590-4.600

KUALA LUMPUR (Nov 14): Inter-Pacific Research Sdn Bhd said the near-term outlook for the FBM KLCI remains buoyant as market sentiments have improved with the odds of further steep interest rate hikes diminishing following the easing inflation pressure.

In its daily bulletin on Monday (N...

Near-term outlook for FBM KLCI remains buoyant, says Inter-Pacific Research 

KUALA LUMPUR (Nov 11): Inter-Pacific Research Sdn Bhd said Malaysian equities continued to inch higher and ended Thursday (Nov 10) just a shade below the psychological 1,450 level on continuing nibbling by foreign institutional buyers.

In its daily bulletin on Friday (Nov 11), the resea...

Inter-Pacific Research expects further near-term upside to KLCI

Chinese chipmaker CXMT Corp reported a surge in preliminary profit and sales during the first nine months of the year after global demand for memory sent prices of the components soaring.

China’s CXMT swings to profit after memory chip prices surge

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

Zetrix AI, Genting, Genting Plantation, IOI Properties, Public Bank, RHB Bank, Cape EMS, Turiya, EGH International, Westsports Holdings & Cosmos Tech 

ExxonMobil Holdings Corp is the latest oil supermajor to signal soaring third-quarter refining profits as wars in the Persian Gulf and Russia crippled fuel-making facilities causing prices to surge.

Exxon signals record refining earnings on soaring diesel prices 

IOI Properties Group Bhd (KL:IOIPG) said its board has yet to deliberate on the potential acquisition of Singapore properties mentioned by its chief executive officer in a media report.

IOI Properties board yet to deliberate on potential Singapore acquisitions

Shipping estimates for Apple Inc’s first folding phone, the iPhone Duo, slipped into December and beyond within minutes of the company opening pre-orders on Friday.

Apple iPhone Duo orders slip into 2027 amid pre-order frenzy

The benchmark S&P 500 was muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in banks limited overall declines.

S&P 500 subdued as gains in banks offset AI jitters; Dow at one-month high

Ukrainian President Volodymyr Zelenskiy took aim on Friday at US President Donald Trump's diesel deal with Russia and welcomed the prospect of European allies stepping up their role in talks, calling Moscow's stance a "parody" of peace negotiations.

Zelenskiy blasts Trump's diesel deal and calls Russian peace moves a 'parody'

Parti Amanah Negara (Amanah) president Datuk Seri Mohamad Sabu stated that the party has been allocated eight state legislative assembly (DUN) seats to contest in the Melaka state election (PRN).

Amanah allocated eight seats in Melaka polls — Mohamad Sabu

The US is on track to install record amounts of clean energy this year and next as developers race to claim expiring federal tax credits and as soaring data-centre electricity demand stimulates growth.

US clean energy set to reach new highs as tax-credit cliff looms

US factory production increased in September, but lost considerable momentum in the third quarter amid headwinds from the Middle East conflict, which has snarled supply chains and raised energy prices.

US manufacturing output rises in September

Kuala Lumpur City Hall (DBKL) failed to obtain a stay on the High Court’s April decision ordering it and the wound-up developer, Fame Modulation Sdn Bhd, to pay RM1.3 million in damages to two former civil servants. 
&nbsp;

DBKL fails to halt RM1.3 mil payment order over structural damage to Cheras retired civil servants’ home 

UBB Amanah Bhd has said that there would be delays in its trust income and maturity payments for October, due to "temporary liquidity constraints arising from delayed repayments by certain investee companies".

UBB Amanah defers October trust payouts amid ‘temporary liquidity constraints’

Genting Bhd (KL:GENTING) executive chairman Tan Sri Lim Kok Thay’s private investment vehicle, Kien Huat Realty Sdn Bhd, has acquired additional shares in the group as its stock hovers near its two-decade lows.

Genting chairman buys more shares as stock nears two-decade low

The Sessions Court here was told on Friday that local fashion company&nbsp;FashionValet Sdn Bhd&nbsp;received investment funds totalling nearly RM40 million from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) eight years ago.

FashionValet received investment of almost RM40 mil from Khazanah, PNB, says witness

The High Court has given more time to Tan Sri Shahrir Samad and Tan Sri Tommy Thomas to iron out settlement terms in the former Federal Land Development Authority (Felda) chairman's malicious-prosecution suit against the former attorney general.

Shahrir Samad, ex-AG Tommy Thomas to update court on Nov 11 of possible settlement in malicious-prosecution suit

Genting Property Sdn Bhd, the property division of Genting Plantations Bhd (KL:GENP), has entered into a strategic partnership with Huawei Technologies (Malaysia) Sdn Bhd to master-plan Johor Tech Smart City (JTSC), including its flagship 430-acre smart campus within the Knowledge AI Campus.

Genting Property partners Huawei to master-plan 430-acre smart campus at Johor Tech Smart City

Malaysia’s six homegrown semiconductor innovations developed under the Semiconductor IC Design Park have an estimated combined sales potential of RM300 million, said Economy Minister Akmal Nasrullah Mohd Nasir. However, he did not specify when the sales target could be achieved.

Six chips developed under Semiconductor IC Design Park have RM300m sales potential, says minister

Ormond Group, the hospitality arm of ECM Libra Group Bhd (KL:ECM), broke ground for the 396-key Ormond Desaru resort in Johor on Friday.&nbsp; 
&nbsp;

Ormond Group breaks ground for Ormond Desaru resort

PETRONAS and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen their 35-year partnership and advance energy security, sustainability and long-term growth.

PETRONAS, Petrovietnam sign strategic alliance to deepen 35-year energy partnership

Zetrix AI Bhd (KL:ZETRIX) faces potential sukuk payment obligations of RM2.16 billion if it fails to resolve a covenant breach by Oct 22, which could trigger a payment default.

Zetrix on the hook for RM2.16 bil as sukuk holders sound alarm bell  

Two Tenaga Nasional Berhad (TNB) workers were rushed to hospital after a fire broke out at &nbsp;a major electricity substation in Johor Bahru on Friday, causing power outages across large parts of the state capital.

Two TNB workers rushed to hospital after JB power substation fire  

Datuk Vijayasundaram Jeyabalan has emerged as a substantial shareholder in Turiya Bhd (KL:TURIYA) after acquiring 22.872 million shares, representing a 9.091% stake in the company, through a private placement.

Vijayasundaram Jeyabalan emerges as Turiya’s second-largest shareholder with 9.09% stake via placement

The upfront costs incurred by CelcomDigi Bhd (KL:CDB) and Maxis Bhd (KL:MAXIS) for the latest spectrum awards are expected to be offset by capital expenditure savings and lower network costs, according to Hong Leong Investment Bank (HLIB).

CelcomDigi, Maxis spectrum costs to be offset by capex and network savings — HLIB

Public Bank Bhd (KL:PBBANK) could see its consolidated net assets and earnings per share reduced by four sen, following an expected HK$1.964 billion — or about RM1.1 billion — goodwill impairment at its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL).

Public Bank’s HK unit to take HK$1.9b non-cash impairment, trimming parent’s net assets and earnings by four sen per share

Toyota Motor Corp plans to use its own gigacasting machinery to make electric vehicles at a&nbsp;US$2 billion (RM8.2 billion) Lexus factory in China, part of its push to reverse a sales decline in the world’s biggest car market. 
&nbsp;

Toyota to debut its own version of Tesla EV-making tech in China

Bank Negara Malaysia (BNM) has maintained additional capital buffer requirements for the country’s three biggest banks: Malayan Banking Bhd (KL:MAYBANK), CIMB Group Holdings Bhd (KL:CIMB) and Public Bank Bhd (KL:PPBANK).

Bank Negara keeps Maybank, CIMB and Public Bank on systemically important banks list, with capital buffers unchanged

The new minimum wage rule for larger firms will be assessed at the group level and not individual subsidiaries, Human Resources Minister Datuk Seri R Ramanan said.

Ramanan: Minimum wage threshold applies at group level, covers foreign workers too

RHB Bank Bhd (KL:RHBBANK) said on Friday it has applied to Bank Negara Malaysia (BNM) for more time to conclude negotiations with Tokio Marine Asia Pte Ltd on the proposed merger of their insurance business in the country.

RHB Bank seeks more time to conclude insurance merger with Tokio Marine

Partners Group Holding AG has cut or reassigned dozens of positions in its private equity unit, as the firm seeks to boost performance under investor scrutiny.&nbsp;

Partners Group said to cut jobs in private equity unit — Bloomberg

The Human Resources Ministry plans to amend the National Wages Consultative Council Act 2011 to allow minimum wages to be set based on education levels, paving the way for a mandatory minimum starting salary of RM2,500 a month for graduates and semi-skilled workers under Budget 2027.

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