NEWS HIGHLIGHTS

• Greatech posts record profit in FY2023, sees sustained momentum this year

• SAM Engineering profit comes off peak in 3Q, sees delayed chip sector recovery

• Better margin lifts Matrix’s 3Q profit, declares 2.5 sen dividend

• Sports Toto’s 2Q net profit plummets 63% on lower sales, higher costs

• Mi Technovation’s 4Q net profit drops 30% on lower utilisation rate

MACRO BITS

• US, China exploring ways to avoid wave of emerging-market defaults

• Malaysia’s inflation remains steady in January — DOSM

• Anwar urges calm, says govt needs to be savvy in addressing weak ringgit

• Putrajaya to introduce urban farming initiative, says PM

• DOSM sees healthier economic prospects in the near future

• Passenger traffic at airports throughout Malaysia registers double- digit growth, says Loke

• China explores ways to attract foreign investment, state media says

• China expected to take gradual approach to prop up economy further, say analysts

• China's new home prices extend declines despite policy support

• Fed cautious on a rate cut case that has yet to be made

• US Fed-favoured inflation gauge seen rising most in a year

• China's woes won't slow US economy, but excess capacity a concern, says Treasury's Adeyemo

• ECB’s Lagarde says wage numbers encouraging, more data needed

• Euro zone inflation expectations edge up for the year ahead: ECB

IDEAS OF THE DAY

• Results Note: AEON, AFFIN, IOI, LGMS, MALAKOF, MRDIY, PIE, SIMEPROP, SWIFT, TM

• Company Update: AXREIT, SAMAIDEN RISE, UZMA

• Weekly Technical Review: DJIA, KLCI

Source: Kenanga Research - 26 Feb 2024