<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 4): Hong Leong Investment Bank (HLIB) Research said Carlsberg Brewery Malaysia Bhd is technically grossly oversold, with key support pegged at the RM18.11 to RM18.75 region.</p></div>

<div class=newsTextDataWrapInner><p>In a technical tracker note on Monday, the research house said that notably, over the past three years, Carlsberg had demonstrated a 100% rebound rate in comparable technical situations, yielding an average return of 9.9%.</p></div>

<div class=newsTextDataWrapInner><p>“Capitalising on this historical trend, we recommend seizing the opportunity to buy the dip in Carlsberg, with the anticipation of a potential rebound towards the RM19.80-RM20.50-RM20.98 levels.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“[We recommend to] cut loss at RM17.74,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, HLIB said Carlsberg’s earnings of RM252.2 million (-2.6% year-on-year) for the cumulative nine months ended Sept 30, 2023 came in within&nbsp;expectations at 73% of the research house's&nbsp;full-year forecast.</p></div>

<div class=newsTextDataWrapInner><p>“Looking into the fourth quarter, we expect Carlsberg to post stronger quarter-on-quarter earnings, in anticipation of increased beer sales during the year-end festive season, and achieve our full-year earnings projection (+8.7% year-on-year),” it said.</p></div>

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<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/688501" target="_blank">Carlsberg posts lower 3Q net profit, sees RM30m hit from non-renewal of Asahi agreements</a></em></p></div>


Hong Leong Investment Bank (HLIB) Research said Carlsberg Brewery Malaysia Bhd is technically grossly oversold, with key support pegged at the RM18.11 to RM18.75 region.

Carlsberg is technically grossly oversold, says HLIB Research

(Sept 12): Alimentation Couche-Tard Inc is discussing improving its takeover proposal for Seven & i Holdings Co, Ltd, with the goal of convincing the Japanese convenience store operator to start engaging in discussions, people with knowledge of the matter said.

Couche-Tard discusses higher price for 7-Eleven owner

Sales of Mazda and Kia vehicles are expected to pick up in the months ahead as analysts shrugged off Bermaz Auto Bhd’s (KL:BAUTO) weaker-than-expected quarter.

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Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after US core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve (Fed) next week.

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KUALA LUMPUR (Sept 12): BIMB Securities has maintained its “underweight” call on the rubber glove sector, citing challenges from strict European Union Deforestation Regulation (EUDR) and persistent overcapacity in the industry.

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China is turning up the heat on its army of 8,700 investment bankers. 

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OpenAI is in talks to raise US$6.50 billion (RM28.16 billion) from investors at a valuation of US$150 billion, according to people familiar with the situation. 

The new valuation, a figure that doesn’t include the money being raised, is significantly higher than the US$86 billion valuation from the company’s tender offer earlier this year, and cements its place as one of the most valuable startups in the world.

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KUALA LUMPUR (Sept 12): The High Court (civil division) has on Thursday granted a stay to the The Federal Territory of Kuala Lumpur (FT of KL) Land Registrar to register a 263.27-acre plot of land in Mukim Batu, known as the “Duta enclave” to the liquidator of Semantan Estate (1952) Sdn Bhd.

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In the second quarter of 2024 (2Q2024), Malaysia's retail sales decelerated to 0.6%, falling short of market expectations, according to Retail Group Malaysia (RGM).

In June, members of the Malaysia Retailers Association (MRA) and Malaysia Retail Chain Association (MRCA) projected a growth rate of 1.7%, making the actual result 65% below the estimate.

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Grand Venture Technology (GVT) has confirmed that it is in discussions for a potential secondary listing of its shares on the Main Market of Bursa Malaysia.

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<p>Concorde Hotel Kuala Lumpur "is not for sale" by its owners and shareholders, said Tan Sri Sallehuddin Mohamed, chairman of its owner Ampang Hotel Sdn Bhd.</p>

<p>In a statement, Sallehuddin said the shareholders "are satisfied with our progress and the direction we are taking" for the hotel.</p>


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<p>Southeast Asian equities have cemented their position as a favourite play of money managers positioning for the US Federal Reserve’s (Fed) policy pivot.</p>

<p>Four of the five best-performing Asian equity benchmarks this month are from the region, with Thailand leading the pack. The buying frenzy has put foreign inflows on track for a fifth consecutive week while the MSCI Asean Index is now trading near its highest level since April 2022.</p>


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<p>Muhammed Yusoff Rawther, who previously worked as an aide to Prime Minister Datuk Seri Anwar Ibrahim when he was the opposition leader, will be charged in the Kuala Lumpur Court on Thursday.</p>


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<p>Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after US&nbsp;core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve (Fed) next week.</p>


<p>A rally in the world’s largest technology companies spurred a stock-market rebound in a volatile session that had Wall Street traders digesting faster-than-anticipated inflation data.</p>


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<p>Nvidia Corp chief executive officer Jensen Huang, whose products have become the hottest commodity in the technology world, said that the scramble for a limited amount of supply has frustrated some customers and raised tensions.</p>


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<p>In the second quarter of 2024 (2Q2024), Malaysia's retail sales decelerated to 0.6%, falling short of market expectations, according to Retail Group Malaysia (RGM).</p>

<p>In June, members of the Malaysia Retailers Association (MRA) and Malaysia Retail Chain Association (MRCA) projected a growth rate of 1.7%, making the actual result 65% below the estimate.</p>


<p>Pahang has denied allegations that the state enforcement unit (UPNP) burned and destroyed structures housing workers and equipment of illegal farmers involved in land encroachment in Raub.</p>


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<p>Grand Venture Technology (GVT) has confirmed that it is in discussions for a potential secondary listing of its shares on the Main Market of Bursa Malaysia.</p>


<p>Signs of gloom are mounting in the US$9.50 trillion (RM41.21 trillion) exchange-traded fund (ETF) landscape, threatening to expose Wednesday’s dip buying in stocks as a head-fake with traders cashing out of speculative trading vehicles.</p>


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<p>Oil attempted to mount a recovery from its plunge to the lowest level in more than two years, with traders weighing intensifying concerns about looming oversupply.</p>


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<p>US utilities faced a near 70% jump in cyberattacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating threat to a critical infrastructure.</p>


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<p>Chinese hotpot chain Haidilao said it will focus on expanding further into established foreign markets in the coming years, notably the US, working to draw new customers as diners at home pull back on spending.&nbsp;</p>


<p>China is turning up the heat on its army of 8,700 investment bankers.&nbsp;</p>

<p>After being forced to take big&nbsp;pay cuts&nbsp;and adhere to other belt-tightening measures under President Xi Jinping’s years-long common prosperity campaign, the country’s dealmakers are now in the crosshairs of the nation’s top graft buster.&nbsp;</p>


<p>KUALA LUMPUR (Sept 12): The High Court (civil division) has on Thursday granted a stay to the The Federal Territory of Kuala Lumpur (FT of KL) Land Registrar to register a 263.27-acre plot of land in Mukim Batu, known as the “Duta enclave” to the liquidator of Semantan Estate (1952) Sdn Bhd.</p>


<p>US House of Representatives Speaker Mike Johnson cancelled a vote scheduled for Wednesday on his stopgap funding bill, saying more work is needed to build support for a measure, less than three weeks before a government shutdown deadline.</p>


US House Republicans cancel vote on stopgap funding measure

<p>Cocoa futures rose as much as 6.6% in New York as prospects for bigger harvests were outweighed by concerns about tight global inventories.</p>

<p>Ghana, the world’s second-biggest cocoa producer, said it would raise the amount it pays farmers by 45%.</p>


Cocoa jumps as traders assess global supply-demand balance

<p>Nippon Steel Corp has sent a senior executive to Washington to boost its case for the US$14.1 billion (RM61.3 billion) takeover of United States Steel Corp, according to people familiar with the matter.</p>


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<p>Hewlett Packard Enterprise Co (HPE) is sounding out investors on Wednesday for a potential US$9.5 billion (RM41.13 billion) debt package to help fund its acquisition of Juniper Networks.</p>


Hewlett Packard sounds out investors for US$9.5b debt deal

<p>Canada’s Conservative party chief says he stands with pilots in a labour dispute with Air Canada, as the carrier prepares to suspend flights ahead of a potential strike.</p>

<p>Pierre Poilievre, leader of the opposition and Prime Minister Justin Trudeau’s chief rival, said he would not support any action that preempted negotiations between the airline and union.</p>
