Kenanga Research & Investment

Kenanga Today Highlights - 08 Mar 2024

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Publish date: Fri, 08 Mar 2024, 11:16 AM

NEWS HIGHLIGHTS

  • DNeX plans collaboration with South Korea's paperless trade infra operator
  • Teo Seng to distribute one treasury share for every 67 shares after record earnings
  • PLS inks deal with China’s Guangzhou Jiangnan to build a one-stop wholesale market in Johor
  • Tex Cycle subscribes to perpetual MTN worth RM10.0m
  • MUIB to dispose of 65.9% stake in PMHB for RM36.7m

MACRO BITS

  • China warns US ‘absurdity’ on trade curbs will harm America
  • Fed's Powell says aware of policy risks to workers, but cuts depend on inflation
  • Keeps policy rate steady at 3.00% amid lingering risks to economic and inflation outlook (See Economic Viewpoint: BNM MPC Meeting)
  • Down USD0.5b in February amid USD rally and a risk-off market tone (See Economic Viewpoint: BNM International Reserves)
  • Look at Malaysia as top-tier investment, capital destination — Anwar
  • Country facing serious subsidised diesel leakages — Amir Hamzah
  • China scrutinizes bond buying at smaller banks as market soars
  • China's January-February trade beats forecasts, signals global trade rebound
  • Fed's Bowman: "Not yet" ready for rate cuts, willing to hike again if needed
  • Weekly jobless claims unchanged; trade deficit widens in January
  • ECB keeps rates on hold but acknowledges some inflation cooling

IDEAS OF THE DAY

  • Results Note: KESM
  • Company Update: HLIND
  • Rating Summary
  • Economic Viewpoint: BNM International Reserves, BNM MPC Meeting, Ringgit Weekly Outlook

Source: Kenanga Research - 8 Mar 2024

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