<div class=newsTextDataWrapInner>KUALA LUMPUR (March 27): RHB Retail Research said AME Elite Consortium Bhd is poised for an uptrend rebound after rebounding above the 21-day simple moving average line on surging volume — it is now eyeing to test the RM1.80 immediate resistance.</div>

<div class=newsTextDataWrapInner>In a trading stocks note on Wednesday, the research house said that if a breakout above that level happens — forming a “higher high” bullish pattern — the stock may trend higher towards the 52-week high at RM1.90, followed by the RM2 mark.</div>

<div class=newsTextDataWrapInner>“However, a fall below RM1.65 invalidates the bullish bias,” it said.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

RHB Retail Research said AME Elite Consortium Bhd is poised for an uptrend rebound after rebounding above the 21-day simple moving average line on surging volume — it is now eyeing to test the RM1.80 immediate resistance.

AME Elite Consortium poised for uptrend rebound, says RHB Retail Research 

(May 28): Treasuries slumped with yields trading at session peaks on Tuesday after two US government-debt auctions attracted tepid demand ahead of important inflation data due at the end of the week.

Treasury yields rose across the curve, with longer-dated maturities climbing more than ...

Treasuries slump after tepid demand for twin auctions, firm data

Americans expect more federal student debt forgiveness in a survey conducted by the Federal Reserve (Fed) Bank of New York last month.

Americans expect more student-debt forgiveness in NY Fed survey

It is worth noting how serious the problem of homelessness is in the US, said Global Times.

Draconian anti-vagrancy laws exacerbate homelessness problem in US — report

Lagenda Properties Bhd (KL:LAGENDA) hit limit down during the early trading session on Wednesday, making it the top loser on Bursa Malaysia.

Lagenda Properties hits limit down

Shares in CelcomDigi Bhd (KL:CDB) extended their decline to touch the lowest in more than 10 months, after the country’s largest mobile carrier by subscribers reported weaker-than-expected quarterly results.

CelcomDigi shares slip further, touch 10-month low after below-view 1Q

Shares in UEM Sunrise Bhd (KL:UEMS) fell to their lowest in three weeks, after the real estate developer reported that its first-quarter net profit nearly halved from a year earlier.

UEM Sunrise shares fall to three-week low after 1Q results

Shares in Kawan Renergy Bhd (KL:KENERGY) surged 50% following the stock's trading debut on Wednesday, after the engineering services firm raised RM33 million via its initial public offering (IPO).

Kawan Renergy opens 50% higher at 45 sen on ACE Market debut

Apex Securities Bhd has recommended investors to 'subscribe' to UUE Holdings Bhd at an initial public offering price of 24 sen, with a fair value of 33 sen, for the stock's attractive valuations, coupled with promising growth prospects.

Apex Securities recommends investors to ‘subscribe’ to UUE, fair value at 33 sen

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

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

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

Lagenda Properties Bhd (KL:LAGENDA) hit limit down during the early trading session on Wednesday, making it the top loser on Bursa Malaysia.

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;

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

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

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

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).

Hextar Technologies bleeds red ink for fourth consecutive quarter

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

Shares in Kawan Renergy Bhd (KL:KENERGY) surged 50% following the stock's trading debut on Wednesday, after the engineering services firm raised RM33 million via its initial public offering (IPO).

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.

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

Apex Securities Bhd has recommended investors to 'subscribe'&nbsp;to UUE Holdings Bhd at an initial public offering price of 24 sen, with a fair value of 33 sen, for the stock's attractive valuations, coupled with promising growth prospects.

Nvidia Corp&nbsp;shares are surging for a third day as Elon Musk fuelled the artificial-intelligence (AI) frenzy by accelerating his challenge of OpenAI, extending a post-earnings rally that’s added some US$470 billion (RM2.21 trillion) to the chipmaker’s market capitalisation.

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

Shares in UEM Sunrise Bhd&nbsp;(KL:UEMS) fell to their lowest in three weeks, after the real estate developer reported that its first-quarter net profit nearly halved from a year earlier.

On Japan’s windy western coast, in a region known for heavy snowfall and sake brewing, the world’s largest nuclear plant sits idle.

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.

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

Shares in CelcomDigi Bhd (KL:CDB) extended their decline to touch the lowest in more than 10 months, after the country’s largest mobile carrier by subscribers reported weaker-than-expected quarterly results.

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 on Tuesday, with strong trading volume.

Salcon poised to resume its uptrend, says RHB Retail Research

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.

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

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.

Ageson secures RM54.33m construction subcontract in Sabah

Phillip Capital has maintained its 'buy'&nbsp;rating of Uzma Bhd (KL:UZMA) at RM1.12, with an unchanged target price of RM2, and said the company is set to deliver stronger earnings for the fourth quarter ending June 30, 2024 (4QFY2024), on the back of rising oil and gas&nbsp;activities post monsoon season, and a stronger performance of the wireline business.

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

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.

Global equity index dips, yields rise with inflation data in focus

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