<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 21): Rakuten Trade said Bahvest Resources Bhd (KL:<a href="/askedge/klse/0098" class="ce-stock" target="_blank">BAHVEST</a>) is poised for a potential bullish breakout from the U-shape pattern, targeting to surpass the neckline of 61 sen.</p></div>

<div class=newsTextDataWrapInner><p>In a technical view note on Tuesday, the research house said that in view of the increasing trading volume and share price pulling further away from all the exponential moving average (EMAs), the stock has a decent opportunity to experience the breakout.</p></div>

<div class=newsTextDataWrapInner><p>It said in the event it breaks above the RM0.61 neckline, this will improve buying interests and lift the stock towards the subsequent level of 63 sen (R1), followed by 70 sen (R2).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“On the downside, stop-loss is set at 52 sen.</p></div>

<div class=newsTextDataWrapInner><p>“Fundamentally, Bahvest stands to benefit from the recent surge in global gold price.</p></div>

<div class=newsTextDataWrapInner><p>“In 1QFY24, the company produced over 150kg of gold but sold only 65.87kg, leaving a surplus inventory that could be sold at higher prices amid the current gold price rally.</p></div>

<div class=newsTextDataWrapInner><p>“With increased mining production and the continuing upward trend in gold prices, Bahvest is set to capitalise on these favourable market conditions,” it said.</p></div>


Rakuten Trade said Bahvest Resources Bhd (KL:BAHVEST) is poised for a potential bullish breakout from the U-shape pattern, targeting to surpass the neckline of 61 sen.

Bahvest poised for potential bullish breakout, says Rakuten Trade 

Israeli foreign minister Gideon Saar met Dutch Justice Minister David van Weel and far-right leader Geert Wilders in Amsterdam on Friday afternoon to discuss the assaults on Israeli soccer supporters in the city.

Israeli foreign minister meets Dutch justice minister, far-right leader after assaults

About one-tenth of the US labour force is working in the gig economy, a share that’s held steady from the pre-pandemic years, a new government study found.
 
The so-called gig economy employs some 15.5 million people or 10.2% of the labour force, according to a Bureau of Labor Statistics (BLS) report published on Friday that’s based on a special supplement to the Current Population Survey for July 2023.

America’s gig economy workforce holds steady around 10% of total

German Chancellor Olaf Scholz signalled he’s open to discussing the timing of an early election as long as opposition lawmakers back legislation he wants to pass before his term ends.

After dismantling his coalition with the Greens and Free Democrats on Wednesday and losing his Bundestag majority, Social Democrat Scholz said he was ready to submit to a confidence vote on Jan 15, the first step in triggering a new national ballot in March.

Scholz says ready to discuss timing of snap German election

Invesco Advisers Inc will pay a US$17.5 million (RM77.07 million) fine to settle US Securities and Exchange Commission (SEC) allegations that it misled clients about the share of company-wide assets under management (AUM) that integrated environmental, social and governance (ESG) factors into investment decisions.

SEC slaps Invesco Advisers with US$17.5 mil fine over its ESG claims 

The S&P 500 and the Dow edged higher on Friday, putting them on course for their best week this year, as a sweeping Trump victory powered bets of a business-friendly agenda and an expected interest-rate cut eased pressure on the US economy.

S&P 500, Dow set for best week this year on Trump win, rate cut

European Union (EU) leaders are trying to work out whether they can keep the Ukrainian war effort going if Donald Trump decides to shut off support from the US.

EU is looking at ramping up Ukraine aid if Trump pulls plug

Temu is at risk of being fined for breaching European Union consumer-protection law, adding to the e-commerce platform’s regulatory problems a week after the bloc opened a separate investigation into whether it’s doing enough to combat illegal sales.

Temu faces second EU probe for misleading sales practices

US consumer sentiment climbed to a seven-month high in early November, boosted by Americans’ optimism about the future of the economy and their finances.

US consumer sentiment advances to highest level since April

Irish Prime Minister Simon Harris on Friday announced the formal start of the country's general election campaign, hoping to retain his coalition's lead in polls and to capitalise on a slide in support for the opposition Sinn Fein.

Irish PM kicks off election focussing on immigration, housing and Trump

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

Maxis, 99 Speed Mart, Carlsberg Malaysia, Westports, PIE Industrial, Duopharma, Milux, Steel Hawk, Petra Energy, Fajarbaru, JF Technology, Sarawak Cable, REDtone, HeiTech Padu, Cypark

<p>Renewable energy producer Cypark Resources Bhd (KL:CYPARK) announced on Friday that its chief financial officer (CFO) Vinie Chong Pui Ling has resigned, just three months after her appointment on Aug 15.</p>


Cypark CFO resigns after just three months in role

<p>Pentamaster Corp Bhd (KL:PENTA) led the fall among semiconductor-related counters on Bursa Malaysia on Friday, after the company announced that its quarterly net profit tumbled to a six-year low.&nbsp;&nbsp;</p>


Gloomy earnings outlook puts semiconductor-related stocks under selling pressure

<p>99 Speed Mart Retail Holdings Bhd’s (KL:99SMART) net profit dipped 3.5% to RM107.16 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM111.06 million a year ago, dragged by higher administrative and other operating spending. This included one-off special staff bonuses and initial public offering (IPO) listing expenses totalling RM23.2 million.</p>

<p>Excluding the one-off expenses, 99 Speed Mart said in a statement its normalised net profit increased 13.2% to RM126 million in 3QFY2024 from RM111.27 million in 3QFY2023.</p>


99 Speed Mart posts RM107.16m 3Q profit, down 3.5% on-year due to one-off expenses

<p>China gave indebted local governments a 10 trillion yuan &nbsp;(US$1.4 trillion or RM6.12 trillion) &nbsp;lifeline but stopped short of unleashing new stimulus, preserving room to respond to a potential trade war when Donald Trump takes office next year.</p>


China unveils US$1.4 tril debt swap, saves stimulus for Trump

<p>Home appliance distributor Milux Corp Bhd (KL:MILUX) received an unconditional mandatory takeover offer on Friday from ABS Capital Sdn Bhd to acquire all the remaining shares it does not own, at 43.2 sen per share.</p>


Company linked to Exsim's Lim brothers buys 63.88% stake in Milux, triggering mandatory takeover at 43.2 sen per share

<p>United Overseas Bank Ltd (UOB)&nbsp;led Singapore bank stocks to record highs on Friday after delivering a hefty profit beat, led by wealth and trading gains.</p>

<p>UOB rose more than 9% as it reported third-quarter profit that climbed to S$1.64 billion (US$1.24 billion or RM5.44 billion). The bank also signalled the potential for more returns to investors through a share-buyback programme. Oversea-Chinese Banking Corp’s (OCBC) stock rose almost 2%.</p>


Singapore bank shares surge to records on wealth, trading gains

<p>Communications Minister Fahmi Fadzil said on Friday it is too early to reveal the specific conditions that will be imposed on U Mobile Sdn Bhd to lead the second 5G network.</p>


Fahmi says still premature to reveal conditions set for U Mobile on second 5G network

<p>CYBERJAYA (Nov 8): Malaysia is set to experience 20% to 40% more rainfall during the upcoming Northeast Monsoon season, compared to a year earlier, according to the Meteorology Department.</p>


Malaysia braces for up to 40% more rainfall this monsoon season, officials say

<p>Malaysian benchmark palm oil futures are expected to trade above and around RM5,000 per tonne until June 2025, supported by tight supply and bullish demand, leading industry analyst Dorab Mistry said on Friday.</p>


Malaysia palm oil futures seen around and above RM5,000 per tonne until mid-2025, analyst Mistry says

<p>A brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>Vanzo Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its ACE Market listing.</p>


M&A Securities to underwrite Vanzo's ACE Market IPO

<p>Genting Singapore Ltd’s shares fell to a two-year low, after analysts downgraded the stock following lacklustre third-quarter results from the firm.</p>

<p>The shares dropped as much as 7.7% to hit the lowest since October 2022, before paring some losses. The company reported a net income of S$79.4 million (US$60 million or RM263.4 million) for the three months ended September, missing estimates by a wide margin.</p>


Genting Singapore shares fall to two-year low on earnings miss

<p>Construction and property development outfit Fajarbaru Builder Group Bhd (KL:FAJAR) has pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million.</p>


Fajarbaru pulls out of RM192m affordable housing project in Putrajaya

<p>REDtone Digital Bhd (KL:REDTONE) said on Friday that it has ceased to be a substantial shareholder of HeiTech Padu Bhd (KL:HTPADU) after disposing of a 1.01% stake in the open market.</p>


REDtone ceases to be substantial shareholder in HeiTech Padu

<p>Crude palm oil (CPO) futures on Bursa Malaysia Derivatives hit a two-year high, as prices rallied to above RM5,000 per tonne, a trader said.</p>

<p>Palm oil trader David Ng said the market outlook remains positive with Indonesia implementing a higher biodiesel mandate next year which will boost demand for palm oil.</p>


CPO futures at two-year high, prices rally above RM5,000 per tonne

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EVENING 5: Five things you need to know today

<p>PUTRAJAYA (Nov 8): The process of recording the testimony of the founding couple of FashionValet Sdn Bhd related to the investment losses&nbsp;of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), which continued on Friday, was completed after about five hours.</p>


FashionValet: MACC finishes recording statement of founders after almost five hours

<p>Oasis Home Holding Bhd, a distributor and retailer of kitchenware and household products, has filed for an initial public offering (IPO) on the ACE Market to raise funds for expansion and working capital.</p>


Livestream commerce firm Oasis Home files for ACE Market IPO

<p>The Malaysian Oil, Gas and Energy Services Council (MOGSC) has commended the recent awarding of landmark contracts for integrated well continuity services (ICWS) and maintenance, construction, and modification (MCM) services to oil and gas services equipment (OGSE) players.</p>


Industry group hails award of landmark contracts by Petronas to O&G services equipment firms

<p>Global palm oil output is seen rising by 2.3 million tons in the October 2024 to September 2025 season, rebounding after drop of 1.2 million tons in 2023-2024 season, industry analyst Thomas Mielke said on Friday.</p>
