NEWS HIGHLIGHTS

• MRCB, Berjaya Land and IJM confirm in consortium to bid for KLSingapore HSR project

• SCIB buys land for RM21.6 mil for capacity expansion

• Nova MSC bags RM35 mil automation project

• PJBumi teams up with subsea services provider to engage in oil and gas sector in Malaysia, Indonesia

• Joe Holding sells lead acid battery making units for RM13m

MACRO BITS

• Global economy outlook at odds with aggressive rate cut bets

• White House's Sullivan, China's Wang to talk ties, Taiwan in Bangkok

• PM Anwar restates commitment to economic reforms, raising people’s living standards

• Finance minister II: Good governance crucial for successful implementation of policies

• Agriculture Ministry aims to transform 150,000 hectares of paddy fields nationwide into Sekinchan-style cultivation, says Mat Sabu

• Report: Malaysia, China finalise fresh durian export deals, discuss extending visa-free entry for both countries

• China signals more targeted stimulus to come

• Chinese provinces target modest 2024 growth after missing previous goals

• Inflation in Japan's capital slows, missing central bank's 2.0% target

• Yellen says jury out on return to low-rate era, signalling shift

• US prices rise moderately in December; inflation trending lower

• ECB could cut rates at any time this year, Villeroy says

• Euro zone inflation falling quicker than thought, data show

IDEAS OF THE DAY

• Company Update: KLCC, TSH

• Sector Update: Telecommunication

• Weekly Technical Review: DJIA, KLCI

Source: Kenanga Research - 29 Jan 2024