NEWS HIGHLIGHTS

• MNRB issues RM420 mil new sukuk to redeem previous tranche, fund expansion

• NTPM registers turnaround in 3Q on higher sales, lower materials cost

• Astino sees fourfold jump in 2Q profit on stronger sales, profit margin

• Nestcon bags RM80m construction job in JB

• Superlon posts big jump in 3Q profit on higher sales, pays 1.25 sen dividend

MACRO BITS

• World Bank to share more data to attract private investors to developing countries

• China told it faces 'fork in the road' as officials meet CEOs

• Govt mulling monthly cash transfers for targeted subsidies rollout

• Saifuddin: Employers cannot apply for freed up foreign worker quota, shortfall to be addressed by Workforce Recalibration Programme

• BNM's international reserves down to USD113.4b as of March 15

• Malaysia to deepen collaboration with Thailand, says Anwar

• Foreign investment flows into China shrink 19.9% in Jan-Feb

• Japan's government says it will keep working closely with BOJ to beat deflation

• Thai parliament approves delayed USD96.0b budget for 2024 fiscal year

• Fed’s Bostic now anticipates just one rate cut this year

• Fed’s Powell ready to support job market, even if it means lingering inflation

• Fed’s Barr says changes to capital rules likely to be significant

• EU leaders to back tighter euro zone fiscal stance in 2025

• Fitch revises United Kingdom's outlook to 'stable' on easing policy risks

• Shoppers snap up summer clothes as food sales fall

IDEAS OF THE DAY

• Sector Update: Banking

• Results Note: YINSON

• Company Update: VELESTO

• Weekly Technical Review: DJIA, KLCI

Source: Kenanga Research - 25 Mar 2024