Malaysia Stock Exchange closed on 12 Aug – Replacement Hari Raya Haji.

Spore market closed on : 09 Aug – Independence Day. 12 Aug – Replacement Hari Raya Haji.

Please be informed that The Edge Financial Daily will be taking a break on Monday, August 12, 2019 in conjunction with Hari Raya Aidiladha. Publication will resume on Tuesday, August 13, 2019.

9 Aug (overnight)

  • White House holds off decision to allow US companies to do business with Huawei, after China orders halt of US agriculture imports
  • Trump calls on Fed to make “ substantial” rate cuts to allow dollar to fall against foreign currencies
  • RBA Governor said prepared to lower rates further to push inflation higher
  • Likelihood US recession in next 12 months rose to 35% in Aug (31% previously) according Bloomberg survey
  • US stocks recovered after strong yuan fixing, but futures fell as trade tensions resurface
  • Oil rebounds from lowest level since Jan with Brent at US$57/bbl
  • USD/MYR at 4.1855, first resistance 4.1975, 1st support at 4.1475

Advance Synergy Bhd is buying back the Holiday Villa Cherating property from Amanah Raya Bhd for RM22.96mil. Well, well, you made the decision to get out and now you’re essentially saying you want to remarry an ex-wife 13 years after the fact.

Foreigners remain net buyers of domestic bonds for the second month in July, recording RM5.7 billion compared with RM6.6 billion in June. This lifted foreign holdings of government bonds (Malaysian Government Securities and Government Investment Issues) to 22.2% as at end-July, the highest level in four months since March, UOB said in a note yesterday. If the dollar goes up for a few years, international bonds will not do as well. If the dollar goes down for a few years, international bonds will do better. The exchange rate is a key factor. Just saying.

Maxwell will be the third China-based company to be de-listed in two weeks’ time on Aug 22. The China-based sport shoes maker has failed to comply with its obligation to regularise its financial health within the stipulated time frame. Ahhh, rotten apple again. Bursa Malaysia should focus on attracting foreign companies with good fundamentals instead of simply increasing the number of firms listed.

Posted in AUG