Posted by Good123 > 2023-03-03 16:05 | Report Abuse

ada dividen 2.5sen bulan depan..

Posted by Good123 > 2023-03-03 16:05 | Report Abuse

tahun ni pun tak rugi... pendapatan dari aset cair RM2-3bil, tolongnya melaporkan keuntungan...

Posted by Good123 > 2023-03-03 16:08 | Report Abuse

i rasa mungkin share buyback, dan bagi share div kelak

Posted by Good123 > 2023-03-03 16:10 | Report Abuse

produk getahnya untung ...selain sarung tangan... mungkin ia akan mengembangkan produk berkaitan seperti produk getah, dll... kaya tunai, boleh lakukan banyak aktiviti demi pertumbuhan sykt... vertical dan juga horinzontal expansion

Posted by Good123 > 2023-03-03 16:13 | Report Abuse

satu lagi perkara lain yg saya tersuka adalah jumlah syer terbitannya adalah terendah antara big 4 glove manufacturers... oh begitu !!!!!!!!!

Posted by Good123 > 2023-03-03 16:15 | Report Abuse

buy rate 82% baiklah.... kini pandemic dah tamat... endemik pulak tapi buy rate tinggi

ada udang disebalik batu ka?

Posted by Good123 > 2023-03-03 16:19 | Report Abuse

overall market merah tapi kossan hijau... apakah yg mendorong kenaikan harganya?

Posted by Good123 > 2023-03-03 16:20 | Report Abuse

adakah pembukaan china akan meningkatkan permintaan terhadap produknya? all possibilities

Posted by Good123 > 2023-03-03 16:21 | Report Abuse

kenapa epf masih memegang syernya walaupun pandemik dah tamat? potensinya tak terbatas?

Posted by Good123 > 2023-03-03 16:22 | Report Abuse

apakah yg mendorong kwsp untuk memegang syernya berterusan? adakah kwsp nampak sesuatu yg orang tak celik kewangan tak berupaya mengesan?

Posted by Good123 > 2023-03-03 16:23 | Report Abuse

kenapa kossan dan bukannya sykt glove lain? apakah keistimewaaannya?

Posted by Good123 > 2023-03-03 16:24 | Report Abuse

kenapakah buy rate sudden surge sampai 80%++++++++? ada M&A ka?

Posted by Good123 > 2023-03-03 16:25 | Report Abuse

pandemik is over.... vaksin masih banyak stok yg tinggal/ kenapa kossan pulak naik hari ni? apa pasal?

Posted by Good123 > 2023-03-03 16:27 | Report Abuse

siapakah yg sedang membeli stok kossan kini? insiders, institutional investors ataupun foreign investors? fikirkanlah

Posted by Good123 > 2023-03-03 16:29 | Report Abuse

selepas destocking , katakanlah permintaan terhadap glove kembali normal.... dulu dulu sebelum pandemik, kossan juga sentiasa untung... apalagi dengan aset cair RM2-3bil dalam tangannya pulak

Posted by Chipee > 2023-03-03 16:31 | Report Abuse

Good123 U ok ka kawan?

Posted by Chipee > 2023-03-03 17:03 | Report Abuse

Just make a quick calculation.
From 2006 - 2019, Total net profit after tax = Rm1.82 billion. Of course some money is spent on capex, expansion and dividends. And price just gone up from Rm0.15 to Rm2.15 from 2006 to 2019.

And here we are TODAY with Rm2 billion in cash, the share price is ranging around Rm1.
We have THIRTEEN (13) YEARS of FREE CASH IN HAND!!!! Think about it.

Posted by Good123 > 2023-03-03 17:14 | Report Abuse

Time Frame:
Monthly
Download Data
01/01/2019 - 03/03/2023

Date

Price

Open

High

Low

Vol.

Change %
03/01/2023 1.07 1.08 1.10 1.05 3.32M -1.83%
02/01/2023 1.09 1.05 1.16 1.05 6.69M +3.81%
01/01/2023 1.05 1.11 1.12 1.02 58.08M -4.55%
12/01/2022 1.10 1.12 1.18 1.03 95.46M -0.90%
11/01/2022 1.11 1.25 1.25 1.07 97.22M -11.20%
10/01/2022 1.25 1.07 1.26 1.03 107.92M +15.74%
09/01/2022 1.08 1.01 1.08 0.98 99.63M +6.93%
08/01/2022 1.01 1.25 1.34 0.92 356.48M -19.20%
07/01/2022 1.25 1.31 1.36 1.25 79.58M -5.30%
06/01/2022 1.32 1.66 1.67 1.21 154.46M -20.00%
05/01/2022 1.65 1.84 1.88 1.64 51.31M -10.33%
04/01/2022 1.84 1.96 2.09 1.77 79.55M -6.12%
03/01/2022 1.96 1.73 1.97 1.70 151.79M +13.29%
02/01/2022 1.73 1.83 1.95 1.67 79.05M -3.89%
01/01/2022 1.80 1.88 2.13 1.77 93.23M -6.25%
12/01/2021 1.92 2.18 2.22 1.61 270.89M -10.70%
11/01/2021 2.15 2.34 2.73 1.95 362.14M -8.90%
10/01/2021 2.36 2.32 2.54 2.21 122.53M +2.16%
09/01/2021 2.31 3.12 3.16 2.20 142.80M -25.48%
08/01/2021 3.10 3.48 3.49 3.04 108.26M -10.40%
07/01/2021 3.46 3.22 3.57 2.93 130.68M +7.45%
06/01/2021 3.22 4.04 4.06 3.17 85.89M -20.49%
05/01/2021 4.05 4.50 4.55 3.86 168.29M -8.78%
04/01/2021 4.44 3.23 4.89 3.16 296.46M +36.20%
03/01/2021 3.26 3.87 3.88 3.16 140.74M -15.67%
02/01/2021 3.87 4.31 4.39 3.63 161.16M -11.24%
01/01/2021 4.36 4.45 4.62 3.77 364.22M -1.11%
12/01/2020 4.40 6.15 6.16 4.35 153.49M -27.77%
11/01/2020 6.10 7.32 7.59 5.19 245.25M -16.93%
10/01/2020 7.34 6.69 8.01 6.54 188.56M +9.65%
09/01/2020 6.69 8.07 8.21 4.40 348.26M -14.39%
08/01/2020 7.82 8.80 9.54 6.03 417.24M -9.20%
07/01/2020 8.61 4.21 9.20 4.19 582.86M +106.82%
06/01/2020 4.16 4.31 4.62 3.36 267.19M -2.18%
05/01/2020 4.26 2.74 4.47 2.67 271.60M +55.36%
04/01/2020 2.74 2.52 2.81 2.46 125.89M +9.16%
03/01/2020 2.51 2.30 2.66 2.07 214.44M +6.87%
02/01/2020 2.35 2.40 2.41 2.22 134.95M -2.04%
01/01/2020 2.40 2.04 2.53 2.02 122.54M +17.79%
12/01/2019 2.04 2.06 2.08 1.98 24.86M -0.48%
11/01/2019 2.05 2.04 2.09 1.96 46.25M +0.72%
10/01/2019 2.03 2.08 2.10 2.03 45.82M -3.04%
09/01/2019 2.09 2.08 2.13 2.04 52.22M +1.42%
08/01/2019 2.07 1.99 2.09 1.92 56.93M +3.69%
07/01/2019 1.99 1.95 2.03 1.93 62.40M +2.01%
06/01/2019 1.95 1.96 2.00 1.92 40.88M +0.76%
05/01/2019 1.94 1.79 2.00 1.75 44.64M +8.79%
04/01/2019 1.78 1.75 1.85 1.70 31.49M +3.41%
03/01/2019 1.72 1.90 1.91 1.68 33.01M -9.28%
02/01/2019 1.90 1.86 2.06 1.83 34.64M +2.37%
01/01/2019 1.85 2.12 2.15 1.75 86.22M -12.67%
Highest: 9.54 Lowest: 0.92 Difference: 8.63 Average: 2.78 Change %: -49.62

Posted by Chipee > 2023-03-03 17:17 | Report Abuse

Just make a quick calculation.
From 2006 - 2019, Total net profit after tax = Rm1.82 billion. Of course some money is spent on capex, expansion and dividends. And price just gone up from Rm0.15 to Rm2.15 from 2006 to 2019.

And here we are TODAY with Rm2 billion in cash, the share price is ranging around Rm1.
We have THIRTEEN (13) YEARS of FREE CASH IN HAND!!!! Think about it.

Posted by Good123 > 2023-03-03 17:47 | Report Abuse

the recent spike in Covid-19 cases in China has recreated a highly speculative environment globally. According to recent news, certain provinces in China saw one million daily cases and a nationwide daily number estimated at above 3.7 million people.

Khong says the health authorities’ easing of quarantine measures for overseas arrivals from Jan 8 signals the end of the zero-Covid policy. “Any relaxation in its border controls will indeed have a profound impact on tourist arrivals and will boost tourism receipts. These changes, however, will be carefully observed in months to come.”

Posted by Good123 > 2023-03-03 17:56 | Report Abuse

Notice of Interest Sub. S-hldr (Section 137 of CA 2016)
KOSSAN RUBBER INDUSTRIES BERHAD
Particulars of Substantial Securities Holder
Name ABRDN PLC
Address 1 GEORGE STREET,
EDINBURGH
EH2 2LL
United Kingdom.
Company No. SC286832
Nationality/Country of incorporation United Kingdom
Descriptions (Class) ORDINARY SHARE
Name of registered holder Citibank Berhad and Malayan Banking Berhad
Address of registered holder Citibank Berhad
165, Jalan Ampang Menara Citibank, 50450 Kuala Lumpur

Malayan Banking Berhad
6th Floor, Menara Maybank 100 Jalan Tun Perak, 50050 Kuala Lumpur
Date interest acquired & no of securities acquired
Date interest acquired 01 Mar 2023
No of securities 129,460,900
Circumstances by reason of which Securities Holder has interest Acquisition of ordinary shares by the registered holder who is a custodian appointed by one or more funds managed by one or more subsidiaries of abrdn PLC.

abrdn PLC is deemed interested by virtue of its shareholding in its subsidiaries pursuant to Section 8(4)(c) of the Companies Act 2016.
Nature of interest Deemed Interest

Total no of securities after change
Direct (units)
0
Direct (%)
0
Indirect/deemed interest (units)
129,460,900
Indirect/deemed interest (%) 5.074
Date of notice 01 Mar 2023
Date notice received by Listed Issuer 03 Mar 2023


Remarks :
Name of registered holder and total number of shares held:
1. Citibank Berhad (123,761,000 Ordinary shares)
2. Malayan Banking Berhad (3,295,100 Ordinary shares)

Announcement Info
Company Name KOSSAN RUBBER INDUSTRIES BERHAD
Stock Name KOSSAN
Date Announced 03 Mar 2023
Category Notice of Interest of Substantial Shareholder Pursuant to Section 137 of CA 2016
Reference Number CS1-03032023-00002

Posted by Good123 > 2023-03-03 17:57 | Report Abuse

2023-03-03

Insider

Notice of new substantial holder - ABRDN PLC on 01-Mar-2023.

2023-03-03

Insider

Notice of new substantial holder - ABRDN HOLDINGS LIMITED (FORMERLY KNOWN AS ABERDEEN ASSET MANAGEMENT PLC) on 01-Mar-2023.

Posted by Good123 > 2023-03-03 18:23 | Report Abuse

foreigner muncul :) no wonder...

2023-03-03

Insider

Notice of new substantial holder - ABRDN PLC on 01-Mar-2023.

2023-03-03

Insider

Notice of new substantial holder - ABRDN HOLDINGS LIMITED (FORMERLY KNOWN AS ABERDEEN ASSET MANAGEMENT PLC) on 01-Mar-2023.

Posted by Chipee > 2023-03-03 19:13 | Report Abuse

Indirect/deemed interest (%) 5.074
This holding is more than KWSP holding of 4.6%

Posted by Good123 > 2023-03-03 19:14 | Report Abuse

A good sign .. why kossan? Hahs
@
Chipee

Indirect/deemed interest (%) 5.074
This holding is more than KWSP holding of 4.6%

12 seconds ago

Posted by Sharefisher > 2023-03-03 19:14 | Report Abuse

Good.

Posted by Good123 > 2023-03-03 19:16 | Report Abuse

KUALA LUMPUR (March 3): Abrdn PLC (formerly known as Aberdeen Asset Management PLC) has emerged as a substantial shareholder of Kossan Rubber Industries Bhd, after acquiring a 5.074% stake in the glove maker.

Abrdn bought the stake, comprising 129.46 million shares, on Wednesday (March 1), making it Kossan Rubber's third-largest shareholder after Kossan Holdings (M) Sdn Bhd (48.77% stake) and the Employees Provident Fund (5.4%).

The transaction price of the acquired stake was not disclosed in Kossan Rubber’s bourse filing on Friday.

Kossan Rubber’s share price, which has fallen 39.55% over the past year, settled up two sen at RM1.07 on Friday. At this price, the group is valued at RM2.74 billion. It is currently trading at a price-earnings ratio of 17.43 times, offering a dividend yield of 2.34%.

The glove maker’s net profit for the year ended Dec 31, 2022 (FY2022) tumbled to RM156.6 million from RM2.86 billion a year earlier, as revenue fell 65% to RM2.32 billion from RM6.63 billion.

Abrdn had previously surfaced as a substantial shareholder in CTOS Digital Bhd, with a 5.238% stake. It raised its stake in the credit reporting group to 5.268% stake after buying 469,200 more shares on Wednesday.

CTOS closed at RM1.37 on Friday, with a market value of RM3.16 billion.

Posted by Sharefisher > 2023-03-03 19:20 | Report Abuse

Free floating shares is getting less in the open market..... Hope will slowly moving up. Popi Popi

Posted by Endgame > 2023-03-03 20:04 | Report Abuse

Breaking news: Foreign funds continue acquired Kossan despite local institutional funds maintained increasing short position in Kossan with expectations coming QR will incur a bigger loss.

Posted by Good123 > 2023-03-03 22:51 | Report Abuse

Jangan sembang kari, IDSS volume 400 lots bernilai RM43,000 je. Shortsellers pun menikus.. hahaha

@Endgame

Breaking news: Foreign funds continue acquired Kossan despite local institutional funds maintained increasing short position in Kossan with expectations coming QR will incur a bigger loss.

2 hours ago

Posted by Sharefisher > 2023-03-06 08:30 | Report Abuse

At least we knew who was accumulated kossan share at this level for the last 5 months. Time to move up....... Popi Popi

Posted by Good123 > 2023-03-06 08:35 | Report Abuse

Just keep.. foreign fund is buying up

Posted by Good123 > 2023-03-06 08:38 | Report Abuse

Rm2-3bil liquid assets, foreigners are buying, no reaon to sell... Kossan is unique ada rubver products in addition to glove... Mat salleh tahu

Posted by Good123 > 2023-03-06 08:39 | Report Abuse

Foreign funds may buy up to 10%++

Posted by Good123 > 2023-03-06 08:51 | Report Abuse

Dana asing menyapu syer

<%-- for fixing scrollbar--%>
Save Print Back

7153 KOSSAN KOSSAN RUBBER INDUSTRIES BHD
Notice of Interest Sub. S-hldr (Section 137 of CA 2016)
Particulars of Shareholder
Name : ABRDN PLC
NRIC/Passport No./Company No. : SC286832
Nationality/Country of Incorporation : United Kingdom
Address:
1 GEORGE STREET, EH2 2LL EDINBURGH United Kingdom
Descriptions (Class and Nominal Value):
ORDINARY SHARE
Name and Address of Registered Holder:
You are advised to read the entire contents of the announcement or
attachment. To read the entire contents of the announcement or attachment,
please access the Bursa website at http://www.bursamalaysia.com
Details of Changes
Date of Notice : 01/03/2023
Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 01/03/2023 Acquired 129,460,900 -
Circumstances by reason of which change has occurred:
Acquisition of ordinary shares by the registered holder who is a custodian
appointed by one or more funds managed by one or more subsidiaries of abrdn
PLC.abrdn PLC is deemed interested by virtue of its shareholding in its
subsidiaries pursuant to Section 8(4)(c) of the Companies Act 2016.
Nature of Interest:
Deemed Interest
Consideration:

No of Shares Held After Changes:
Indirect/Deemed Interest : 129,460,900 shares (5.0740%)
Total : 129,460,900 shares
Remarks:
Name of registered holder and total number of shares held:1. Citibank
Berhad (123,761,000 Ordinary shares)2. Malayan Banking Berhad (3,295,100
Ordinary shares)
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com
Submitted By:

03/03/2023 07:00 AM


Ref Code: 202303033800189

Posted by Good123 > 2023-03-06 08:52 | Report Abuse

Ganas, ~130juta syer ditelan DANA ASING

<%-- for fixing scrollbar--%>
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7153 KOSSAN KOSSAN RUBBER INDUSTRIES BHD
Notice of Interest Sub. S-hldr (Section 137 of CA 2016)
Particulars of Shareholder
Name : ABRDN HOLDINGS LIMITED (FORMERLY KNOWN AS ABERDEEN ASSET MANAGEMENT PLC)
NRIC/Passport No./Company No. : SC082015
Nationality/Country of Incorporation : United Kingdom
Address:
10 QUEEN'S TERRACE, AB10 1XL ABERDEEN United Kingdom
Descriptions (Class and Nominal Value):
ORDINARY SHARE
Name and Address of Registered Holder:
You are advised to read the entire contents of the announcement or
attachment. To read the entire contents of the announcement or attachment,
please access the Bursa website at http://www.bursamalaysia.com
Details of Changes
Date of Notice : 03/03/2023
Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 01/03/2023 Acquired 129,460,900 -
Circumstances by reason of which change has occurred:
Acquisition of ordinary shares by the registered holder who is a custodian
appointed by one or more funds managed by one or more subsidiaries of abrdn
Holdings Limited (formerly known as Aberdeen Asset Management PLC).abrdn
Holdings Limited (formerly known as Aberdeen Asset Management PLC) is deemed
interested by virtue of its shareholding in its subsidiaries pursuant to
Section 8(4)(c) of the Companies Act 2016.
Nature of Interest:
Deemed Interest
Consideration:

No of Shares Held After Changes:
Indirect/Deemed Interest : 129,460,900 shares (5.0740%)
Total : 129,460,900 shares
Remarks:
Name of registered holder and total number of shares held:1. Citibank
Berhad (123,761,000 Ordinary shares)2. Malayan Banking Berhad (3,295,100
Ordinary shares)
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com
Submitted By:

03/03/2023 07:00 AM


Ref Code: 202303033800188

Posted by Good123 > 2023-03-06 09:23 | Report Abuse

Nta rm1.52++@31.12.22

Posted by Good123 > 2023-03-06 09:23 | Report Abuse

Abrdn plc has emerged as a substantial shareholder of Kossan Rubber Industries Bhd.

Posted by Good123 > 2023-03-06 09:24 | Report Abuse

Save Print Back

KOSSAN - Notice of Book Closure
KOSSAN - Notice of Book Closure
ILC-17022023-00006
INTERIM SINGLE TIER TAX EXEMPT DIVIDEND OF 2.5 SEN PER ORDINARY SHARE FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2022 Kindly be advised of the following :
1) The above Company's securities will be traded and quoted "Ex - Dividend? as
from: 07 Mar 2023 2) The last date of lodgment : 08 Mar 2023 3) Date Payable
: 22 Mar 2023
MANAGER, REF. DATA MANAGEMENT
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

17/02/2023 07:00 AM


Ref Code: 202302175100059

Posted by Good123 > 2023-03-06 09:24 | Report Abuse

Save Print Back

7153 KOSSAN KOSSAN RUBBER INDUSTRIES BHD
Interim Dividend
Entitlement Details:
INTERIM SINGLE TIER TAX EXEMPT DIVIDEND OF 2.5 SEN PER ORDINARY SHARE FOR
THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
Entitlement Type: Interim Dividend
Entitlement Date and Time: 08/03/2023 05:00 PM
Year Ending/Period Ending/Ended Date: 31/12/2022
EX Date: 07/03/2023
To SCANS Date:
Payment Date: 22/03/2023
Interest Payment Period:
Trading of Rights Start On:
Trading of Rights End On:
Stock Par Value:
Share transfer book & register of members will be closed from to (both dates inclusive) for the purpose of determining the entitlements
A Depositor shall qualify for the entitlement in respect of:
- Securities transferred into the Depositor's Securities Account before 08/03/2023 04:30 PM in respect of ordinary transfers.
- Securities transferred into the Depositor's Securities Account before in respect of express transfers.
- Securities deposited into the Depositor's Securities Account before in respect of securities exempted from mandatory deposit.
- Securities not withdrawn from the Depositor's Securities Account as at .
- Securities bought on BMSB on a cum entitlement basis according to the Rules of the BMSB.
Registrar's Name and Contact:
BOARDROOM SHARE REGISTRARS SDN BHD,11th Floor, Menara Symphony,No. 5, Jalan
Prof. Khoo Kay Kim (Jalan Semangat),Seksyen 13,46200,Petaling
Jaya,Selangor,MalaysiaTel:0378904700Fax:0378904670
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com
Submitted By:

16/02/2023 07:00 AM


Ref Code: 202302163200256

Posted by Good123 > 2023-03-06 09:28 | Report Abuse

KOSSAN Rubber Industries Bhd’s long-term prospects are expected to be positive given its ongoing automation and digitisation initiatives, environmental, social and corporate governance (ESG) initiatives and solid long-term relationship with customers

Posted by Good123 > 2023-03-06 09:30 | Report Abuse

As part of its expansion strategy, Kossan Rubber Industries is targeting Far East markets where the growth potential is expected to be stronger due to lower per capita consumption (for example Japan’s glove consumption is only 106 pieces compared to the US’ 250 pieces)

Posted by Good123 > 2023-03-06 09:30 | Report Abuse

The expansion in Meru with 15 lines and annual production capacity of five billion pieces is targeted to complete sometime mid-FY23F.

Glove demand on the other hand is expected to stay above pre-Covid level due to the growing awareness for hygiene following the global outbreak of Covid-19.

Posted by Good123 > 2023-03-06 09:36 | Report Abuse

Topglove 72.5sen > 68sen nta nya

Kossan rm1.08< rm1.522+++ nta nya

Kossan to move towards rm1.5+.

P/B value ~ 1 m9re reasonable

Posted by Good123 > 2023-03-06 09:38 | Report Abuse

Foreign funds beli kossan probably cash rich , low current price vs nta, ada rubber products selain glove

Posted by 5354_ > 2023-03-06 09:52 | Report Abuse

Not so easy to go up. EPF behind selling?

Posted by 5354_ > 2023-03-06 09:54 | Report Abuse

Aberdeen vs EPF who own more assets globally?

Posted by Good123 > 2023-03-06 10:02 | Report Abuse

U.S. stocks end sharply higher, Dow snaps four straight weeks of losses amid signs of a resilient economy.

Last Updated: March 4, 2023 at 8:46 a.m. ET

U.S. stocks finished sharply higher Friday, with the S&P 500 index snapping three straight weeks of losses, after fresh data pointed to a resilient economy despite interest rate hikes by the Federal Reserve. The Dow Jones Industrial Average booked back-to-back daily gains of 1% for the first time since November and snapped a four-week losing streak, according to Dow Jones Market Data.

How stocks traded

The Dow Jones Industrial Average DJIA, +1.17% gained 387.40 points, or 1.2%, to close at 33,390.97.
The S&P 500 SPX, +1.61% rose 64.29 points, or 1.6%, to finish at 4,045.64.
The Nasdaq Composite COMP, +1.97% jumped 226.02 points, or 2%, to end at 11,689.01.

What drove markets

Gains in the U.S. stock market on Friday accelerated into the close, with the S&P 500 snapping a three-week losing streak, as investors weighed how aggressively the Federal Reserve may need to hike interest rates to bring inflation under control.

“Wall Street has had a lot of Fed speak to digest over the past week, but it seems clear that traders believe we are very close to the peak despite all these signs of a resilient economy,” Edward Moya, senior market analyst at Oanda, wrote in a Friday afternoon note.

James Solloway, chief market strategist and senior portfolio manager at SEI Investments Co., remains cautious about the stock market.

“The improvement that we’ve seen in the past two days merely offsets what has been some severe weakness in the last couple of weeks,” Solloway said in a phone interview Friday. “There’s a fair amount of uncertainty out there right now.”

Stocks pulled back in February, denting a strong start to 2023, as a run of hotter-than-expected jobs and inflation data saw investors reassess expectations for how high the Fed will drive interest rates in a bid to get inflation under control. Investors have worried the Fed’s monetary policy may need to be tighter for longer to tame sticky inflation, lifting bond yields this week.

Stocks held on to gains Friday after the Institute for Supply Management said its services index held steady at a robust 55.1% in February, showing the U.S. economy is still in expansion mode even as headwinds pick up.

“Consumers are still spending money,” said Keith Apton, a managing director at UBS Wealth Management, in a phone interview Friday. “You still have unemployment that’s stubbornly low.”

But Apton expects “there’s going to be a better entry point in the market later this year,” with the S&P 500 potentially falling to 3,800. Consumers have been dipping into their savings and with the Fed still raising rates, he said, “I’m telling clients to brace for a mild recession in the third quarter of this year.”

Apton said he currently likes large-cap value stocks and has a sector preference for defensive areas of the market such as healthcare and utilities. He said he also likes international equities, including developed and emerging markets, and will be watching for potential economic stimulus from the Chinese government’s legislative session this weekend.

U.S. stocks have climbed this week as a measure of market volatility fell. The CBOE Volatility Index VIX, -5.62% has declined more than 14% this week to 18.5 on Friday, FactSet data show, at last check. That’s below its long-run average of around 20.

For the week, the S&P 500 gained 1.9%, while the Dow Jones Industrial Average rose 1.7% and the technology-heavy Nasdaq Composite advanced 2.6%, according to Dow Jones Market Data.

Equities generally have been in “a broad trading range,” SEI’s Solloway said. “We are at the upper end of that range right now.”

Companies in focus

C3.ai Inc. shares AI, +33.65% surged more than 33% after the enterprise artificial intelligence software group delivered well-received results and upbeat forecasts.

Zscaler Inc. ZS, -11.10% shares sank 11.1% after the cloud cybersecurity company forecast a decline in billings and announced layoffs in a statement after the market closed on Thursday.

Shares of Marvell Technology Inc. MRVL, -4.74% fell 4.7% after the chip company met expectations with results for its latest quarter but blamed inventory corrections for an outlook that came in below the consensus view.

Posted by Good123 > 2023-03-06 10:04 | Report Abuse

No reported selling by kwsp n foreign funds keep buying... The only trend is upward

Posted by Good123 > 2023-03-06 10:07 | Report Abuse

Div payout on mar 22, ex date mar 7...today is last day for dividend