Softer World Economy Likely To Weigh In On Local Bourse
Softer World Economy Likely To Weigh In On Local Bourse
“On the local bourse yesterday, Malacca Securities said that the FBM KLCI (-1.1%) erased all its intraday gains from the opening bell, dragged by quick profit-taking in more than two-thirds of the key index components yesterday.”
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The Big Crash Continues
“Triple recession risk in the world’s three major economies. It is not rocket science to work out what this means for northern hemisphere investment markets. The world will not have a recession, but all of the northern hemisphere will.”
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Most Aggressive Rate Hike by Fed in 2 Decades
“The latest move by Fed was in line with market expectations and announced after a two-day policy meeting. It will raise the central bank’s benchmark federal funds rate to a target range between 0.75 percent and 1 percent.”
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Petronas Withdraws From Yetagun Field In Myanmar
“The decision was made following a thorough techno-commercial review in alignment with PETRONAS’ asset rationalisation strategy for a portfolio that fits with its growth ambitions amid the changing industry environment and accelerated energy transition.”
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Banking Sector Overweight Despite Issuance Of Digital Banking Licence
“It said that as such it continues to rate Malaysian banks as overweight, premised on the potential re-rating catalyst of continuous earnings recovery (our projected core net profit growth of 4.1% in CY22F and 18.3% in CY23F).”
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