NEWS HIGHLIGHTS

• Sapura Energy's Mexican unit declared bankrupt

• KUB Malaysia to acquire remaining 40% stake in KUB Sepadu

• Pekat Group sells vacant industrial plot in Shah Alam for RM21 mil cash

• Priceworth to distribute China’s Higer bus products in Sabah, Sarawak

• Kumpulan Jetson sues 10 shareholders who sought to remove board of directors

MACRO BITS

• Global factories struggle for growth as China demand remains weak

• G20 optimism on global outlook gives BOJ impetus for early stimulus exit

• Reached an 18-month high in February on sustained recovery (See Economic Viewpoint: Malaysia Manufacturing PMI)

• Govt aims to fortify TVET in agriculture to ensure food security, says Mat Sabu

• Inflation expanded to 2.75% in February on higher food prices (See Economic Viewpoint: Indonesia Consumer Price Index)

• China approves plan aimed at spurring investment and spending

• China's factory activity shrinks for 5th month, raises pressure for more stimulus

• Japan’s tight labor market to keep upward pressure on wages

• US manufacturing contracts further, rays of light on the horizon

• Fed's Logan: Fed will feel its way to balance sheet limit

• Fed's Kugler 'optimistic' on disinflation without big job losses

• Inflation remains sticky in Europe, with core prices cooling less than expected

• BoE likely to overhaul its forecasting after inflation shocks, Pill says

• UK house prices rise for first time in over a year

IDEAS OF THE DAY

• Market Strategy: 4QCY23 Report Card

• Company Update: BIMB, IHH, PADINI, TENAGA

• Weekly Technical Review: DJIA, KLCI

Source: Kenanga Research - 4 Mar 2024