Malaysia is celebrating National Day on Aug 31 and Awal Muharram on Sept 1.
Malaya’s Nostalgic Event – Kuala Lumpur, Malaya August 31st 1957.
The stock market closed on Monday September 2, and will resume trading on Tuesday, September 3, 2019. Awal Muharram is one of the eighteen market holidays observed by the Malaysia Stock Exchange each year.
Please be informed that The Edge Financial Daily will be taking a break on Monday, September 2, 2019 in conjunction with Awal Muharram. Publication will resume on Tuesday, September 3, 2019.
BLOOMBERG: Asian stocks looked set for a mixed session Wednesday as investors assessed the latest in the unpredictable path of trade talks between the U.S. and China. Treasuries rose.
RHB Guide to Retail Research Technical Ratings Long: To initiate a long position Short: To initiate a short position Maintain Long: Maintain long position Maintain Short: Maintain short position Take Profit: Close the position after the share price has reached a defined level Cut Loss: Close the position after the share price has reached a defined level Avoid: Do not have position in the stock until further advice
Technical Timeframe: Immediate-term: Refers to a period of days until 3-4 weeks Short-term: Refers to a timeframe of 1-3 months Medium-term: Refers to a period of not more than 12 months Long-term: Refers to a period of more than 12 months
US Stocks rallied on Monday after optimistic remarks from French and U.S. leaders about developments in the Sino-American trade war. Bursa Malaysia today? Huh! Bursa, I hope you get to the root of your problem soon.
Local News – The Edge : Bezza has become the best-selling new sub-1.0 litre sedan in Sri Lanka. Perodua said as of the first seven months of 2019, the Bezza leads the sub-1.0 litre class in Sri Lanka in terms of new vehicle sales, across all bodystyles. The carmaker said the car, priced at Rs 3.69 million (about RM86,200) upon its launch in June 2017, has found some 1,500 Sri Lankan buyers to date. If Oscars were given for a job well done, I’d nominate PERODUA. Congratulations for BEZZA fantastic achievement.
Unit owners at K Residence are suing DutaLand Bhd CEO Tan Sri Yap Yong Seong and developer KL Landmark Sdn Bhd for their alleged failure to establish a joint management body (JMB) within 12 months of delivery of vacant possession, the misuse of maintenance funds, as well as other misconducts in the management of the condominium. Yap, widely known as Duta Yap, is a director at Olympia Industries Bhd, which wholly owns KL Landmark, according to the EDGE. OMG. I remember his name. Jupiter now CGS. What a mess!
HITS TV – Astro CH 720, reruns of CHARMED. A TV show about three witch sisters, ran for eight seasons from 1998 to 2006. For me, the TV show was never quite the same after Shannen Doherty departed after the third season.
Stocks in Asia opened mixed Friday after a lackluster U.S. session that saw traders adopt a cautious stance before Federal Reserve Chair Jerome Powell’s address at the Jackson Hole summit, according to Bloomberg. At 9.05am, the FBM KLCI lost 7.07 points to 1,595.40.
ASIAN FOOD CHANNEL HD on Astro CH 730. It is time for new shows to be added: the same chefs and shows and reruns are boring!
Most covered Both Sides Now – Joni Mitchell. I love this version. Enjoy!
Again, there is another matter to consider. Astro suffers data breach exposing customers’ MyKad data. This marks the second time a data breach involving Astro subscribers’ data has occurred in the past 14 months. On June 6, 2018 online publication Lowyat.net had reported of a similar breach occurring for up to 60,000 Astro IPTV customers — with the data fetching RM4,500 for 10,000 records, the EDGE has said.
DAP Perak assemblyman Paul Yong Choo Kiong, who allegedly raped an Indonesian domestic worker, is expected to be charged in court tomorrow, sources told theedgemarkets.com.
I would not recommend driving on a dark highway while listening to this song:
Crude Oil : Oil futures steadied on Wednesday after U.S. government data showed a draw down in domestic crude stocks but rises in refined product inventories, while lingering worries about the global economy weighed on the market. Brent crude rose 0.42% to $60.28 a barrel, down from a session high of $61.41. U.S. West Texas Intermediate (WTI) crude settled down 0.8% to $55.71 a barrel, after hitting $57.13 a barrel.
MMO: Singapore will next week begin a public trial of driverless buses that can be booked with an app, part of ambitions to roll out autonomous vehicles across the city-state. I think this is good news. But for those who make a living by driving, driverless vehicles are a serious threat.
There is a song for every single specific mood you could ever have. This song! He has such emotion in his voice and everything in this song makes me want to cry.
What’s good today? I don’t know. To me, this could be a good thing.
Hibiscus Petroleum Bhd’s net profit for the fourth quarter ended June 30, 2019 (4QFY19) plunged 75% to RM24.72 million, from RM98.75 million a year earlier, despite recording a 28.4% higher revenue at RM237.07 million from RM184.63 million previously.
The group, however, ended its financial year with a full-year net profit of RM230.01 million, up 13% compared with RM203.71 million in the previous year. Full-year revenue more than doubled to RM988.30 million, from RM394.34 million previously.
Hibiscus attributed the overall improvement to its North Sabah asset, as this was the first full year that the Malaysian asset was under the group’s operatorship.
Both its North Sabah and the Anasuria Cluster are progressing through a capital expenditure programme to drill a total of nine wells in the 2019 calendar year — two wells in the UK and a further seven in Malaysia. – the EDGE
Hibiscus Petroleum Bhd price drops below 1.00 in early trade today. I might say, ironic, isn’t it? Lets sing:
Utusan, Kosmo! won’t shut down after all, but print editions to cost an extra 50 sen, according to MMO. Guys, Please buy Utusan, Kosmo!.
US stocks were lower after the close on Tuesday, as losses in the Basic Materials, Telecoms and Financials sectors led shares lower. At the close in NYSE, the DJIA lost 0.66%, while the S&P 500 index fell 0.79%, and the NASDAQ Composite index declined 0.68%. Falling stocks outnumbered advancing ones on the NYSE by 1,844 to 1,157 and 35 ended unchanged; on the NASDAQ Stock Exchange, 1,680 fell and 961 advanced, while 98 ended unchanged. (Sources: Investing.Com)
REUTERS: Singapore, Malaysia gain in line with broader Asia; Thailand down.
KLCI still eyeing for a rebound above 1,600. Tracking the positive sentiment on Wall Street, the buying support may spill over to stocks on the local front especially the technology stocks following the license extension for Chinese telecom giant to continue its service towards the current clients.
Nice! Ramble On (Led Zeppelin Cover)
Bloomberg : Twitter Inc. found and deleted hundreds of accounts it said China used to undermine the Hong Kong protest movement and calls for political change. The company said it took down 936 accounts that originated within China and attempted to manipulate perspectives on the pro-democracy movement in Hong Kong. Facebook Inc., acting on a tip from Twitter, said it also found a similar Chinese government-backed operation on its social network, with five fake accounts, seven pages and three groups.