<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 27): Shares of Saudee Group Bhd (Saudee) rose 3.28% this morning after AllianceDBS Research said the immediate hurdle for Saudee was at 32.5 sen and that Saudee had on July 26 crossed over the 29 sen hurdle to reach a high of 32.5 sen before closing at 30.5 sen (up 2 sen or 7.01%).</p></div>

<div class=newsTextDataWrapInner><p>At 9.38am, Saudee rose 1 sen to 31.5 sen with 534,000 shares done.</p></div>

<div class=newsTextDataWrapInner><p>In its evening edition yesterday, the research house said Saudee crossed over the 20-day and 50-day moving average lines on July 26.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Following the up close on July 26, the stock is likely to move higher again with immediate hurdle at 32.5 sen.</p></div>

<div class=newsTextDataWrapInner><p>“A crossover of 32.5 sen should see further price rise to the next overhead resistance at 35 sen.</p></div>

<div class=newsTextDataWrapInner><p>“The support is pegged at 30 sen. A fall below 30 sen would put pressure on the stock down to the subsequent support at 28.5 sen,” it said.</p></div>

<div class=newsTextDataWrapInner><p>AllianceDBS Research said stock volume traded on July 26 was 8.49 million shares compared to the 3-month average volume of 700,000 shares.</p></div>

<div class=newsTextDataWrapInner><p>The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.</p></div>

<div class=newsTextDataWrapInner><p>It said the relative strength index indicated that the stock was currently in an overbought zone.</p></div>


KUALA LUMPUR (July 27): Shares of Saudee Group Bhd (Saudee) rose 3.28% this morning after AllianceDBS Research said the immediate hurdle for Saudee was at 32.5 sen and that Saudee had on July 26 crossed over the 29 sen hurdle to reach a high of 32.5 sen before closing at 30.5 sen (up 2 sen or 7.0...

Saudee Group rise 3.28% on positive buying interest

The Domestic Trade and Cost of Living Ministry has opened an investigation paper into a sandwich bread factory in Sunway Damansara, Petaling Jaya, Selangor for suspected misuse of the halal logo.

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Malaysian stocks were broadly lower on Monday led by construction and property companies, while the country’s benchmark index fell to a five-month low.

Investors in Asia reacted poorly to the latest jobs data in the US that pointed to a robust economy, threatening the prospects of rate cuts by the Federal Reserve. The ringgit also depreciated along with other emerging Asian currencies under pressure from a strengthening US dollar.

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Taiwan Semiconductor Manufacturing Co (TSMC), the main global producer of advanced chips used in artificial intelligence (AI) applications, is expected to report a 58% leap in fourth-quarter profit on Thursday because of surging demand.

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<p>Malaysia’s wholesale and retail trade growth decelerated to 4.7% year-on-year in November, largely driven by sales in non-specialised and specialised stores, official data on Monday showed.</p>


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<p>Al-Salam Real Estate Investment Trust (KL:ALSREIT) will see “significant” rental growth from this year onwards thanks to higher occupancy at its most valuable property, BIMB Securities said.</p>


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<p>SINGAPORE/BANGALORE (Jan 13):&nbsp;Oil prices extended gains for a third session on Monday, with Brent rising above US$80 (RM360.63) a barrel to its highest in more than four months, as wider US sanctions are expected to affect Russian crude exports to top buyers China and India.</p>


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<p>For years it’s seemed like nothing could stop the stock market’s inexorable march higher, as the S&amp;P 500 Index soared more than 50% from the start of 2023 to the end of 2024, adding US$18 trillion (RM81.16 trillion) in value in the process. Now, however, Wall Street is seeing what can ultimately derail this rally: treasury yields above 5%.</p>


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<p>For those unsettled by the relentless rise in government bond yields in the US and across much of the world lately, the message from markets is getting clearer by the day: Get used to it.</p>
