Kenanga Research & Investment

Kenanga Today Highlights - 26 Mar 2024

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Publish date: Tue, 26 Mar 2024, 10:58 AM

NEWS HIGHLIGHTS

  • UWC's 2Q earnings fall 75% amid semiconductor market cyclical downturn
  • Binastra posts record profit as construction segment continues to drive earnings
  • Sapura Energy says 'not out of the woods' despite annual net loss narrowing to RM509 mil in FY2024
  • MyNews expects ‘worst is over’ as it posts second straight profitable quarter
  • TCS bags RM140.27 mil buildings works projects in Selangor

MACRO BITS

  • Britain agrees USD100.0m trade finance to boost Africa food security
  • New Zealand and EU trade agreement to take effect on May 1
  • February inflation unexpectedly hits 1.8% YoY, spurred by water tariff and holiday spending (See Economic Viewpoint: Malaysia Consumer Price Index)
  • Encouraging repatriation of foreign proceeds not a form of capital control, says BNM deputy governor
  • MDEC to introduce new tax incentive for Malaysia Digital status companies
  • Loke: Construction cost for ECRL stays at MYR50.27b
  • Penang Development Corp to set aside MYR5.0b for 15 high-impact projects
  • China to safeguard equal treatment for foreign-funded firms
  • Singapore February core inflation rises to 3.6% y/y, highest since July 2023
  • Fed’s Cook emphasizes need for ‘cautious’ approach to rate cuts
  • Fed’s Bostic repeats expectation of just one rate cut this year
  • Fed’s Goolsbee sees three rate cuts this year as inflation cools
  • US new-home sales eased in February, suggesting uneven recovery
  • ECB confident wage growth slowdown on track: Lane
  • BoE's Mann says her rates view was finely balanced before March vote

IDEAS OF THE DAY

  • Sector Update: Tech Strategy

Source: Kenanga Research - 26 Mar 2024

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