NEWS HIGHLIGHTS

• Perdana Petroleum secures vessel charter contracts from Dayang Enterprise

• Varia offers Sungai Klang Link expertise for SKL elevated highway project

• One Glove plans RM46m debt settlement

• Silver Ridge gets RM1.88 mil job to build railside fencing for ECRL contractor

• Barakah Offshore seeking shareholders’ upfront approval to sell Kota Laksamana 101 barge within six months

MACRO BITS

• China readies USD27.0b Chip Fund to counter growing US curbs

• Chinese buying set the stage for gold’s latest record run

• Key details of India's pact with four-nation European trade bloc

• Unemployment rate remained at 3.3% in January on sustained hiring (See Economic Viewpoint: Malaysia Labour Market)

• Foreign investors persisted in bond market divestment in February amid a risk-off impulse (See Economic Viewpoint: Malaysia Bond Flows)

• Productivity per Malaysian worker up in 2023, says chief secretary to govt

• China's consumer prices swing up on seasonal Lunar New Year gains

• China warns overall pressure on employment yet to ease

• BOJ leaning toward exiting negative rates in March - sources

• US bond funds attract biggest weekly inflow since mid-2021 on rate cut hopes

• Slow US inflation retreat is set to bolster Fed patience on rate cuts

• UK Labour's finance chief vows to stick to fiscal rules

IDEAS OF THE DAY

• Sector Update: Building Material Report Card 4QCY23, Construction Report Card 4QCY23, Utilities Report Card 4QCY23

• Company Update: SCIENTX

• Weekly Technical Review: DJIA, KLCI

• Economic Viewpoint: MY Bond Flows, MY Labour Market

Source: Kenanga Research - 11 Mar 2024