Morning Call; Bargain Hunting Activities May Emerge In The Local Front Especially Technology Stocks
Bargain Hunting Activities May Emerge In The Local Front Especially Technology Stocks
“Malacca Securities said that the lower liners, however, rebounded, while the broader market closed mostly higher, led by the energy sector (+2.6%) as Brent oil prices sustained above USD100/bbl.”
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Ringgit May Weaken Slightly This Week Due To Heightened Fears Of Uncertainty
“The stockbroking firm said that the USD index may continue to trade near the 103.0 level for this week and is expected to trend higher if there is any hawkish surprise in the latest FOMC minutes. Nevertheless, the local note will continue to be supported by a stronger yuan (below 6.70 per USD).”
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Supply Chain Disruptions Could Cost 7.7% of Eurozone GDP in 2023
“Take the example of semiconductor, the semiconductor shortfall was expected to resolve in the second half of 2022, is now anticipated to persist into 2023. A protracted war could lead to a further loss to GDP of up to €318 billion in 2022 and €602 billion in 2023, while inflation could be as high as 7.8% in 2022 before declining in 2023.”
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Allianz Malaysia Market Share Increases, Profits For Q1 Doubles To RM151.8 Million
“Allianz General recorded its best performance for a single quarter in Q1 with RM733.7m in GWP and signed off the first quarter of 2022 on a higher PBT mainly driven by higher underwriting profit, and an improved Combined Ratio of 1.6 percentage points,” said Sean, who is also the Chief Executive Officer of Allianz General.”
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Indonesia’s Policy Could Well Work For Malaysian Palm Oil
While the export ban lifting is a big relief to Indonesia planters, they had certainly missed out on the high CPO price period (February-April 2022) when Indonesia's palm oil prices were trading at a larger discount to Malaysia with all the export control policies put in place in late-January 2022.
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