Close up level 9

- A + A KUALA LUMPUR (Aug 11): Bursa Malaysia rebounded from Wednesday's (Aug 10) losses to close broadly higher on Thursday, with the benchmark index breaching and staying above the 1,500-psychological level amid positive market sentiment across the region. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.23 points to end the day at its intraday high of 1,505.56 compared with Wednesday's close of 1,492.33, driven by continuous buying momentum in selected index-linked counters led by Press Metal Aluminium Holdings Bhd. The benchmark index opened 5.48 points better at 1,497.81 this morning and remained in positive territory throughout the session. Banking stocks were mostly upbeat, including CIMB Group Holdings Bhd, Malayan Banking Bhd (Maybank), Hong Leong Financial Group Bhd, Hong Leong Bank Bhd, Public Bank Bhd, and RHB Bank Bhd following slower-than-expected inflation data in the US which might provide some space for the Federal Reserve not to hike rates … [Read more...] about Bursa ends broadly higher, KLCI above 1,500 level

Share to Twitter Share to Linkedin The evolution of Free People from fashion label to sponsoring a major tennis tournament winner in Sofia Kenin was organic every step of the way. The 7-year-old Free People Movement, an athletic-wear arm of the Free People fashion label, started to focus on tennis in 2021 as the sport's participation grew. At that time the brand also started a conversation with Kenin, 2020 Australian Open champion, a fan of the brand who had been wearing Free People for years. "We are still a growing brand, so for us to partner with someone at that level, having access to a top-ranked player gives us the opportunity to take the brand much, much further and test product in a different way while driving credibility," says Jack Reynolds, Free People's chief marketing officer. "We have a legacy and a rich history in fashion and FP Movement is focused on the merger of fashion and function." Whether creating on-court looks that Kenin, … [Read more...] about Free People Movement Enters Professional Tennis With A Focus On Gear For All Levels

Share to Twitter Share to Linkedin Nvidia NVDA gapped lower this morning on a negative reaction to a partial earnings report. The stock closed last week at $189.89 and traded as low as $172.42 this morning, down 9.2%. Nvidia is above its 50-day simple moving average at $170.18 and above its value level for this week at $169.35. The stock set its all-time intraday high of $346.47 on November 22, 2021 and traded as low as $140.55 on July 5, 2022. This was a bear market decline of 59.4%. From this low Nvidia rebounded by a bull market 37.1% rise to $192.74 below its annual pivot at $195.84. The Daily Chart for Nvidia Shares of Nvidia fell below a death cross on April 21, 2022, when the 50-day simple moving average moved below the 200-day simple moving average. The stock remains below this death cross. Its above the 50-day SMA at $170.17 and below its 200-day SMA at $231.41. There are four horizontal lines. At the top is the quarterly risky … [Read more...] about Nvidia Gapped Lower Monday On Partial Earnings Results. How To Trade This Stock Now

Share to Twitter Share to Linkedin I’m always shocked when dividend investors ignore tech stocks. Which means I’m shocked a lot, because pretty well all income-seekers do it! That’s because most folks still think of technology as the home of profitless startups, crumbling crypto platforms or zero-dividend names like Tesla TSLA (TSLA) and Amazon AMZN .com (AMZN). But the truth is, big caps dominate the tech space, and on the whole, the sector is sitting on some of the biggest cash hoards on Wall Street. Apple AAPL (AAPL), of course, holds a legendary $202 billion. As of February, that amounted to more than 7% of the cash holdings of all S&P 500 companies! Alphabet, too, holds north of $160 billion. Microsoft MSFT ? $132 billion. The list goes on. The problem? These companies are in no hurry to hand that cash over to us dividend investors. All pay low (or no!) dividends. But there is a “backdoor” way for us to tap … [Read more...] about 3 “Cash Loaded” Funds Almost All Investors Miss (Yields Up To 8%)

Stock Market News The fall in US inflation, better earnings growth in June FY23 quarter, consistent buying by FIIs, and a decline in the US dollar index lifted the domestic equities to a four-month high on August 11. With the consistent recovery in markets from June lows, investors are now richer by around Rs 39 trillion (lakh crore). The BSE Sensex rallied more than 500 points to 59,333, and the Nifty50 rose 124 points to close at 17,659, the highest closing level since April 11. The broader market, too, participated in the rally. The BSE Midcap and Smallcap indices gained 0.8 percent and 0.5 percent, respectively. All sectors but Metal and Telecom, helped the market rise. Bank, Finance, IT, Consumer Durables, and Realty indices gained more than one percent each. The US inflation came in at 8.5 percent in July 2022, declining from 9.1 percent, the highest in last more than 40 years, in June following the correction in oil price. This cheered markets as the probability of … [Read more...] about Investors get richer by Rs 39 trillion as Sensex jumps over 16% from June lows

- A + A KUALA LUMPUR (Aug 11): Pentamaster Corporation Bhd’s second quarter net profit rose 7.05% to RM19.20 million from RM17.94 million a year earlier, underpinned by higher revenue. Earnings per share for the quarter ended June 30, 2022 increased to 2.70 sen from 2.52 sen, the semiconductor equipment vendor's Bursa Malaysia filing showed. Quarterly revenue rose 15.84% to RM151.34 million from RM130.65 million on higher contribution from its automated test equipment and factory automation solutions segments, said Pentamaster. On a quarter-on-quarter basis, the group’s net profit declined 5.85% from RM20.40 million in the immediate preceding quarter, while revenue rose 3.64% from RM146.02 million. For the cumulative six-month period, net profit increased 16.44% to RM39.60 million compared with RM34.01 million for the previous January-June period. Six-month revenue increased 20.97% to RM297.37 million from RM245.81 million. Pentamaster said it is fortunate … [Read more...] about Pentamaster 2Q net profit up 7% to RM19.2 mil

FILE PHOTO: Thousands of job seekers and former OFWs troop to the Cuneta Astrodome in Pasay City for the DOLE- DTI organized summer job fair. (March 26, 2018 / INQUIRER/ MARIANNE BERMUDEZ) Geneva, Switzerland — The total global number of unemployed youths should fall to 73 million in 2022, down by two million from the year before, the United Nations said Thursday. However, the figure is still six million higher than the pre-pandemic level of 2019, with the recovery in youth unemployment lagging behind the bounceback in other age groups, the UN’s International Labor Organization said. Between 2019 and 2020, those aged 15 to 24 experienced a much higher percentage loss in employment than the rest of the labor market, the ILO said in a report. Their 300-page “Global Employment Trends for Youth 2022” update on key youth labor market indicators and trends said the pandemic exacerbated the market challenges generally facing young people. Many dropped out of the labor force, or … [Read more...] about Global youth unemployment set to slip to 73 million in 2022: UN

Representative image (Source: Reuters) At the edge of the Colombian Amazon, in an Indigenous village surrounded by oil rigs, the Siona people faced a dilemma. The United Nations Development Program, or UNDP, had just announced a $1.9 million regional aid package. In a village with no running water, intermittent electricity and persistent poverty, any money would mean food and opportunity. But the aid program was part of a partnership between the U.N. agency and GeoPark, the multinational petroleum company. The company holds contracts to drill near the Siona reservation, including one with the government that would expand operations onto what the Siona consider their ancestral land. To the Siona people on the Buenavista reservation, oil drilling is an assault, akin to draining blood from the earth. This collaboration is one example of how one of the world’s largest sustainable development organizations partners with polluters, even those that at times work against the … [Read more...] about In the Amazon, a UN agency has a green mission, but dirty partners

Prashant Jain, joint managing director and chief executive officer, JSW Energy Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The acquisition of Mytrah Energy India Pvt Ltd's renewable assets is value accretive for shareholders from day one and operating income of the asset would increase significantly post acquisition after more working capital in pumped into it, JSW Energy Ltd’s Chief Executive Officer and Joint Managing Director Prashant Jain told Moneycontrol in his first media interaction after announcing the deal. JSW Energy said earlier on August 10 that its arm JSW Neo Energy has executed a binding agreement with Mytrah Energy to acquire 1,753 megawatts (MW) of its renewable energy portfolio for an enterprise value of Rs 10,530 crore. In an interview in July, Jain had told Moneycontrol that FY23 is likely to be … [Read more...] about Mytrah Energy deal value accretive, EBITDA will improve post acquisition: JSW Energy CEO

Source: Reuters While JPMorgan Chase & Co. is urging investors to use an “unsustainable” rally in emerging-market bonds to ditch debt from some of the riskiest corners of the world, Morgan Stanley is recommending they pile up on it. A lower-than-expected US inflation reading released Wednesday should support developing-nation bonds, Morgan Stanley strategists led by Simon Waever wrote in a note, turning bullish on sovereign credit for the first time since November 2020. Just a day before, JPMorgan strategists led by Trang Nguyen said the recent rebound in the asset class won’t last long, suggesting clients dump less liquid names at opportunistic prices and buy cheaper hedges to protect against selloffs. The latest inflation data from the US spurred a risk rally as traders reduced Federal Reserve tightening wagers. The extra yield investors demand to hold emerging-market sovereign debt over US Treasuries narrowed Wednesday, extending the trend since mid-July, when spreads … [Read more...] about Morgan Stanley Bets on EM Debt as JPM Warns Rally Unsustainable