<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 2): Foreign investors net bought RM1.50 billion in Malaysian equities last week, marking the highest weekly net buying since March 18, 2016, according to MIDF Research.</p></div>

<div class=newsTextDataWrapInner><p>The top three sectors net bought by foreign investors were financial services (RM1.30 billion), utilities (RM259.7 million), and construction (RM88.7 million).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Conversely, they net sold in technology (-RM60.4 million), transportation and logistics (-RM57.2 million), and industrial products and services (-RM41.0 million).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Meanwhile, local institutions recorded net selling of RM1.26 billion, the highest since March 4, 2022.</p></div>

<div class="mt-4 embed-right"><a class="mobx embedimg-icon imgw-300" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pics/2024/20240902MIDF.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2024/20240902MIDF.png" /></a></div>

<div class=newsTextDataWrapInner><p>They net bought RM13.9 million last Monday but shifted to net selling last Tuesday to Friday. Local retailers also net sold for the second week in a row, with a total of RM245.4 million.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>They only net bought RM26.3 million last Thursday, and were net sellers for the rest of the week.</p></div>

<div class=newsTextDataWrapInner><p>The average daily trading volume increased by 49.9% among foreign investors, while it declined by 0.4% among local institutions and 2.8% among local retailers.</p></div>


Foreign investors net bought RM1.50 billion in Malaysian equities last week, marking the highest weekly net buying since March 18, 2016, according to MIDF Research.

Foreign investors net bought RM1.5b in equities last week, highest since March 2016

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

Philippine President Ferdinand Marcos Jr enacted on Friday two laws bolstering his nation’s maritime claims, drawing criticism from Beijing as South China Sea tensions persist.

Marcos signed the Maritime Zones Act, which seeks to make the Philippines’ maritime rights well-defined by creating routes over its waters and airspace.

Marcos signs laws on Philippine Sea rights, drawing anger from China 

A weekly round-up of tanker and dry bulk market (Nov 8, 2024)

Baltic Exchange shipping updates: Nov 8, 2024

Chinese President Xi Jinping told Italian President Sergio Mattarella that China is willing to import more of Italy’s high-quality products and expand their business ties.

Xi says China willing to boost imports, business ties with Italy

Singapore Airlines on Friday flagged its earnings would stay under pressure despite robust travel demand in the second half of the year, while it reported a profit fall reflecting stiff market competition coupled with rising costs.

Singapore Airlines flags earnings pressure from tough competition

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.

REDtone ceases to be substantial shareholder in HeiTech Padu

JF Technology Bhd (KL:JFTECH) is acquiring stakes in Singapore-based companies for a combined value of about RM26 million, in a bid to expand its business and market reach globally.

JF Tech buys into Singapore-based semiconductor firms for RM26 mil

EVENING 5: Five things you need to know today

Investors hoping China would announce extra fiscal buffers for an economy girding for another Donald Trump presidency were disappointed on Friday.

China's top legislative body, the standing committee of the National People's Congress (NPC), did as was expected, approving bills to allow local governments to allocate 10 trillion yuan (US$1.4 trillion) towards reducing off-balance sheet, or "hidden", debt.

China's latest stimulus falls short of expectations

EVENING 5: Muhyiddin ordered to pay RM1.35 mil in damages to Guan Eng

<p>Maxis Bhd’s (KL:MAXIS) continuous efforts to recruit subscribers with lower prices are paying off.&nbsp;</p>

<p>The telecommunications company announced that its net profit grew by 28% for the three months ended Sept 30, 2024 (3QFY2024), helped by a larger subscriber base, coupled with a drop in staff costs after earlier lay-offs.</p>


Maxis 3Q net profit rises 28% with more subscribers, lower staff costs

<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>Donald Trump's recent US election&nbsp;win will affect Malaysian exporters, but is largely neutral for domestic growth, the ringgit, and the equity market, said CGS International.</p>


Trump presidency largely neutral for Malaysia, while market consolidation offers buying opportunities — CGS

<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>Russian President Vladimir Putin congratulated Donald Trump on his victory in the US presidential election, and said he is ready to hold discussions with the new American leader.</p>


Putin says Trump’s proposals on Ukraine deserve attention

<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>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>Hong Leong Investment Bank (HLIB) proposed that revisiting the Shenton House acquisition could present a prime opportunity for IOI Properties Group Bhd (KL:IOIPG), given the favourable market conditions.</p>


Revisiting acquisition of Shenton House 'best available option' for IOI Properties — HLIB

<p>Analysts are&nbsp;positive about Axiata Group Bhd's (KL:AXIATA) focus on emerging markets&nbsp;while reaping benefits from the CelcomDigi merger over a longer term.</p>


Analysts positive on Axiata's emerging-market focus, CelcomDigi merger benefits

<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>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>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>SUNGKAI (Nov 8): FGV Holdings Bhd (KL:FGV), one of the world’s largest producer of crude palm oil (CPO), said it is actively working with its clients to facilitate the export of crude-palm-kernel-oil (CPKO) products that comply with the European Union Deforestation Regulation (EUDR) into Europe.</p>


FGV working closely with clients to facilitate export of crude-palm-kernel-oil products

<p>WASHINGTON&nbsp;(Nov 7):&nbsp;Donald&nbsp;Trump's&nbsp;Republicans were projected to pick up another US Senate seat on Thursday, and appeared to be retaining their narrow hold on the House of Representatives, putting them&nbsp;on track to control both chambers of Congress&nbsp;next year.</p>


Republicans widen Senate majority, on track to win House

<p>At about the same time my article “Hidden danger in consuming ‘dark calories’” was published on theedgemalaysia.com (July 17, 2024), the Seed Oil Free Alliance unveiled its “Seed Oil Free Certified” food label. In my article, I recommended avoiding seed oils from sunflower, corn, soybean and cott...

My Say: Seed Oil Free Certification in the US a boost for palm oil?

<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>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>Malaysia’s industrial output rose slower than expected in September, as manufacturing activity and electricity generation growth eased, while mining production contracted, official data on Friday showed.</p>
