NEWS HIGHLIGHTS

• TT Vision forms JV to set up solar energy-related automation equipment manufacturing base in Malaysia

• Ge-Shen acquires 60.0% stakes in ARD and ATSCM for RM13.5m cash

• GFM Services proposes one-for-two bonus issue of warrants

• Epicon secures RM191.0m mixed-use development contract in Perak

• Globaltec gets more time to undertake South Sumatera gas exploration

MACRO BITS

• World bank to provide Egypt with over USD6.0b in support

• US Treasury’s Adeyemo says he’s more bullish on South Africa

• Exports fell slightly in February but imports remain firm (See Economic Viewpoint: Malaysia External Trade)

• Malaysia welcomes beneficial investments, not favouring any country, says Anwar

• MOF says high-value goods tax still being finalised despite less than two months left before scheduled implementation

• BNM taking prudent approach to addressing high household debt risks, says Lim Hui Ying

• China growth mixed as factory output jumps, consumption lags

• China's upbeat industrial output, retail sales tempered by frail property

• Japan money-market brokerage prepares for BOJ to raise rates

• Sticky inflation could be a wild card for easing timetable at Fed meeting

• US homebuilder sentiment increases to an eight-month high

• UK property asking prices rise at fastest pace in 10 Months

• Germany is in recession due to first-quarter slump, survey shows

IDEAS OF THE DAY

• Sector Update: Plantation

• Company Update: AIRPORT

• Economic Viewpoint: Global FX Monthly Outlook, MY External Trade

Source: Kenanga Research - 19 Mar 2024