<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 6): RHB Retail Research said Datasonic Group Bhd is poised for an uptrend rebound after bouncing off the 21-day simple moving average line and testing the 46 sen immediate resistance level on higher trading volume.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Tuesday, the research house said that if a breakout occurs above this level, the bulls are likely to propel the stock towards the 50 sen resistance level, followed by the next one at 55 sen.</p></div>

<div class=newsTextDataWrapInner><p>“If the price falls below the support level at 43.5 sen, it would signal the beginning of a correction,” it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

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RHB Retail Research said Datasonic Group Bhd is poised for an uptrend rebound after bouncing off the 21-day simple moving average line and testing the 46 sen immediate resistance level on higher trading volume.

Datasonic poised for uptrend rebound, says RHB Retail Research 

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds five entities to Investor Alert List, three being potential clones

HLIB Research is overall positive on YTL Power International’s move to up its stake in Ranhill

MORNING CALL: 29/5/24

KUALA LUMPUR (May 29): RHB Retail Research said Salcon Bhd (KL: SALCON) is poised to resume its uptrend after bouncing off the 21-day simple moving average (SMA) line, climbing towards the immediate resistance of 32 sen yesterday – with strong trading volume.

In a trading stocks on Wedn...

Salcon poised to resume its uptrend, says RHB Retail Research 

KUALA LUMPUR (May 29): RHB Retail Research said SMRT Holdings Bhd (KL: SMRT) is poised for a technical breakout after rebounding off the 21-day simple moving average (SMA) line and climbing towards the recent high of RM1.03 resistance on strong volume yesterday.

In a trading stocks on W...

SMRT poised for a technical breakout, says RHB Retail Research 

(May 29): Cathie Wood’s Ark Investment Management has purchased a stake in Elon Musk’s artificial-intelligence startup xAI, part of a growing wager that the nascent AI industry will revolutionize global tech.

Wood’s Ark Venture Fund revealed the stake in an email to clients Tuesday. It ...

Cathie Wood’s US$60 million venture fund nabs stake in Elon Musk’s xAI

KUALA LUMPUR (May 29): Phillip Capital has maintained its “buy” rating on Uzma Bhd (KL: UZMA) at RM1.12 with an unchanged target price of RM2 and said Uzma is set to deliver a stronger 4QFY24 earnings on the back of rising O&G activities post monsoon season and stronger performance from the w...

Uzma set to deliver stronger 4QFY24 earnings, says Phillip Capital 

Genetec Technology Bhd, whose profit jumped 63.09% year-on-year for the quarter ended March 31, 2024 (4QFY2024), expects continued strong earnings amid increasing demand for its automation and energy storage solutions.

Genetec's quarterly net profit jumps 63% on higher margin, sees rising demand for automation and energy storage solutions

Prime Minister Datuk Seri Anwar Ibrahim launched the National Anti-Corruption Strategy (NACS) on May 7. However, NACS itself was overshadowed by the chief commissioner of the Malaysian Anti-Corruption Commission (MACC) Tan Sri Azam Baki’s statement that the country lost RM277 billion due to graft from 2018 to 2023.

The state of corruption in Malaysia

(May 29): Tesla Inc. has reached a deal to resolve a lawsuit over the death of a Model S passenger in a fiery 2016 crash, marking the second time in two months the electric-vehicle maker has avoided a jury trial in California over a fatal wreck.

Friday’s settlement comes after the autom...

Tesla settles fatal crash suit as another jury trial loomed

(May 29): Nvidia Corp. shares are surging for a third day as Elon Musk fueled the artificial-intelligence frenzy by accelerating his challenge of OpenAI, extending a post-earnings rally that’s added some US$470 billion to the chipmaker’s market capitalization.

Nvidia stock rose on Tuesd...

Nvidia surges for third day as earnings rally tops US$460 billion

<p>Co unveiled a new hybrid powertrain that’s capable of allowing a car to travel more than 2,000km without recharging or refueling.</p>


BYD shows off new hybrid powertrain capable of ultra-long drive

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


YTL Power, Ranhill, MPHB, IHH Healthcare, Aurelius, Pestech, CelcomDigi, UEM Sunrise, IGB, FGV, E&O, Supermax, BLand, Magnum, Signature International, Star Media

<p>Pestech International Bhd (KL:PESTECH) has filed a counterclaim against Syarikat Pembinaan Yeoh Tiong Lai (SPYTL) at the Asian International Arbitration Centre (AIAC) over their dispute arising from the termination of a subcontract for electrification system works pertaining to the Electrified Double Track project from Gemas to Johor Bahru.</p>


Pestech files counterclaim against YTL unit in Gemas-JB double track dispute

<p>Aurelius Technologies Bhd (KL:ATECH) has proposed to undertake a private placement of up to 39.41 million shares, or 10% of its issued share capital, mainly to build a new manufacturing plant in Kulim Hi-Tech Park in Kedah.</p>


Aurelius plans to raise RM123 mil via private placement for manufacturing plant, posts record-high quarterly net profit

<p>In view of the healthy take-up rate of its properties in Penang, Eastern &amp; Oriental Bhd (KL:E&amp;O) plans to launch three new projects in the state with an estimated gross development value (GDV) of RM1.63 billion in 2024 and 2025</p>


E&O to launch properties with estimated RM1.63b GDV in Penang 

<p>Kenanga Investment Bank Bhd’s (KL:KENANGA) net profit more than doubled to RM22.83 million in the first quarter ended March 31, 2024 (1QFY2024), from RM10.25 million a year ago, driven by higher trading and investment income, management fee income and higher share of profit from its associate company.&nbsp;</p>


Kenanga Investment Bank's 1Q net profit more than doubles, foresees increased trading volume on Bursa 

<p>The Malaysian Anti-Corruption Commission (MACC) clarified that it has conducted an interim investigation into the award of the Demand Responsive Transit (DRT) pilot project contract by the Selangor government to the company owned by Youth and Sports Minister Hannah Yeoh's husband, and found no wrongdoing.</p>


Probe into award of contract to company linked to Hannah Yeoh’s husband revealed no wrongdoing — MACC chief

<p>Hextar Technologies Solutions Bhd (HexTech) (KL: HEXTECH) continued to be in the red for a fourth consecutive quarter, as the company posted a net loss of RM8.49 million for its fourth financial quarter ended March 31, 2023 (4QFY2024).</p>


Hextar Technologies bleeds red ink for fourth consecutive quarter

<p>Prime Minister Datuk Seri Anwar Ibrahim launched the National Anti-Corruption Strategy (NACS) on May 7. However, NACS itself was overshadowed by the chief commissioner of the Malaysian Anti-Corruption Commission (MACC) Tan Sri Azam Baki’s statement that the country lost RM277 billion due to graft from 2018 to 2023.</p>


<p>Berjaya Land Bhd (KL:BJLAND) said its net profit surged more than sevenfold for the third quarter ended March 31, 2024 (3QFY2024), attributed to gains from equity disposal and the revaluation of retained equity interest.</p>


Berjaya Land's 3Q profit up sevenfold on disposal, revaluation gains

<p>Genetec Technology Bhd, whose profit jumped 63.09% year-on-year for the quarter ended March 31, 2024 (4QFY2024), expects continued strong earnings amid increasing demand for its automation and energy storage solutions.</p>


<p>The Nasdaq crossed 17,000 for the first time ever on Tuesday, boosted by gains in Nvidia, while the S&amp;P 500 closed barely higher and the Dow ended lower as Treasury yields rose.</p>


Nasdaq closes above 17,000; S&P 500 slightly higher, Dow down

<p>The Nasdaq breached the 17,000 level for the first time on Tuesday, buoyed as AI darling Nvidia jumped to a record high, even as focus shifted to key inflation data later in the week that could sway expectations for the Federal Reserve's rate-cut path.</p>


Nasdaq crosses 17,000 mark ahead of inflation test

<p>US consumer confidence unexpectedly improved in May after deteriorating for three consecutive months amid optimism about the labour market, a survey showed on Tuesday.</p>


US consumer confidence unexpectedly improves in May

<p>Star Media Group Bhd (KL:STAR) registered a net loss of RM193,000 for the first quarter ended March 31, 2024 (1QFY2024) versus a net profit of RM1.14 million a year earlier, dragged by higher operating costs.</p>


Star Media posts slim net loss in 1QFY2024, appoints three new board members

<p>Ageson Bhd (KL:AGES), which entered Practice Note 17 (PN17) status back in November 2023, has secured a construction subcontract worth RM54.33 million for the development of a 40-storey service suite block in Sabah.</p>


Ageson secures RM54.33m construction subcontract in Sabah

<p>(May 29): Nvidia Corp. shares are surging for a third day as Elon Musk fueled the artificial-intelligence frenzy by accelerating his challenge of OpenAI, extending a post-earnings rally that’s added some US$470 billion to the chipmaker’s market capitalization.</p>

<p>Nvidia stock rose on Tuesd...

<p>On Japan’s windy western coast, in a region known for heavy snowfall and sake brewing, the world’s largest nuclear plant sits idle.</p>

<p>The Kashiwazaki Kariwa Nuclear Power Plant (KK), a sprawling 4.2 million sq m complex by the sea, was once the crown jewel in Japan’s strategy to boost atomic power to 50% of the country’s energy mix by 2030. Inside, a framed certificate from Guinness World Records acknowledges the facility’s potential output of 8.2 gigawatts as the most globally.</p>


World’s largest nuclear plant sits idle while energy needs soar

<p>Europe’s biggest pension fund, Stichting Pensioenfonds ABP, has exited all liquid assets in oil, gas and coal worth about €10 billion (RM51.06 billion) in an effort to be greener.</p>


Europe’s biggest pension fund sells €10 bil in fossil fuels

<p>A global equities gauge fell slightly on Tuesday, while US&nbsp;Treasury yields rose to multi-week peaks, as investors waited cautiously for inflation data due later in the week, with hopes for clues on the outlook for US&nbsp;interest rates.</p>
