FBM KLCI closed higher with buying mainly on commodity related and telco stocks. The benchmark index surged 0.79% or 11.49 points to end at 1,463.43. Gainers were led by PETDAG, PETGAS and AXIATA. Market breadth was positive with 567 gainers against 424 losers. Total volume stood at 4.65bn shares valued at RM3.08bn.
Major regional markets ended higher. Nikkei225 and SHCOMP gained 0.28% and 0.43% to close at 32,710.62 and 3,133.25 respectively. HSI was shut down due to typhoon while STI was closed for election day.
Wall Street ended mixed despite an increase in US unemployment. The DJIA and S&P500 gained 0.33% and 0.18% to end at 34,837.71 and 4.515.77 respectively. Meanwhile Nasdaq lost 0.01% to finish at 14,031.81.
Bernas announces 36% price hike on imported white rice
Padiberas Nasional Bhd (Bernas) said on Friday (Sept 1) it has raised the price of imported white rice at all its warehouses nationwide to RM3,200 per tonne, from RM2,350 per tonne, effective immediately. The price adjustment was done in line with the latest pricing of imported white rice in the international markets, it said in a statement.– The Edge Markets
Solarvest ventures to provide green data in Sarawak
Solarvest Holdings’ wholly-owned subsidiary, Solarvest Borneo SB is exploring a collaboration with the Centre for Technology Excellence Sarawak (Centexs), Huawei Technologies (M) SB and GreenBay CES SB on developing the hyperscale green data centre industry in Borneo. Solarvest said the partnership aims to establish a hyperscale green data centre testbed and training programme in Sarawak. Under the partnership, Solarvest Borneo will contribute its expertise in green-energy and energyefficient solutions. -The Star
Artroniq secures RM9.6m contract
Artroniq's wholly-owned subsidiary EA Global Integrated SB has secured a contract from Singapore's Kiddie Shoppe Pte Ltd to implement a customised e-commercial/retail software development project. In a filing with Bursa Malaysia, Artroniq said the project which costs RM9.6m, will be for a period of 12 months commencing October 2023. "The project is expected to contribute positively towards the future earnings of the Artroniq Group for the duration of the project," it said. - The Star
Serba Dinamik unable to submit 4Q result by Aug 31
Serba Dinamik Holdings said it was unable to release its 4QFY2023 quarterly results by Aug 31 as required under the Main Market Listing Requirements. The troubled oil and gas company did not say why it was unable to meet the Aug 31 deadline, but said it expects to submit the quarterly report by Sept 8. This is the third consecutive quarter that Serba Dinamik has delayed issuing its financial report within the prescribed time. The Edge Markets
Switzerland told to better prepare for bank failure
Switzerland was urged to prepare properly for the failure of a big bank on Friday by a group of experts in the wake of the collapse of Credit Suisse, but their report to government skirted radical reform some say is needed. UBS Group emerged as Switzerland’s single largest bank earlier this year after the government hastily arranged and partly bankrolled its takeover of stricken Credit Suisse to prevent that bank's collapse.- The Edge Markets
Wall Street closed mixed despite a strong opening following a slight uptick in the US unemployment rate to 3.8% in August from 3.5% before. Nonetheless, sentiment remains cautious. Therefore, although the DJI Average gained 115 points, the Nasdaq ended 3 points lower as the US 10-year yield inched higher to 4.181%. Meanwhile, trading on Hong Kong market was halted last Friday because of Typhoon Saola. However, we expect the HSI to see a positive reaction today after more measures were implemented to ease the Chinses ailing property sector plus a cut in the foreign currency reserve requirement ratio from 6% to 4% to stem the declining Yuan against the US$. Back home, the FBM KLCI maintained its impressive performance. As market undertone continues to improve, we reckon the index to trend within the 1,460-1,475 today. Meanwhile, Oil & Gas counters may see some action today as crude oil prices are trending higher in view of the decline in inventory and cut in production with the Brent crude is currently hovering near the US$89/barrel.
Source: Rakuten Research - 4 Sept 2023
To sign up for an account : http://bit.ly/40BNqKI
[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo
Chart | Stock Name | Last | Change | Volume |
---|
Created by rakutentrade | Aug 23, 2024