Author: | Publish date: Review & Outlook The local benchmark index slipped on Monday, mirroring declines on regional markets as Author: | Publish date: Review & Outlook The local benchmark index slipped on Monday, mirroring declines on regional markets as investors digested data from the U.S showing consumer sentiment deteriorated more than expected in February. The FBM KLCI dipped 6.78 points to close at 1,584.25, off an opening high of 1,586.39 and low of 1,577.95, as losers beat gainers 719 to 304 on total turnover of 2.7bn shares worth RM2.32bn. Cautious trade is expected as investors await a slew of economic data from the U.S. due later this week for better guidance on the outlook for the country's economy. Immediate index support remains at 1,550, with stronger supports at the 6/8/24 low of 1,529 and 1,500 psychological level. Immediate resistance is maintained at 1,605, with next upside hurdles at 1,630, followed by 1648. Dialog need to increase breakout momentum above the 76.4%FR (RM1.72) to enhance upside potential towards the 61.8%FR (RM1.90) and 50%FR (RM2.03) ahead, with the lower Bollinger band (RM1.52) expected to cushion downside. Selling dips on Hibiscus shares towards the 123.6%FP (RM1.60) or 138.2%FP (RM1.46) should encourage buying on weakness ahead of a technical rebound to the 100%FP (RM1.84), with next resistance coming from the 100-day ma (RM1.97) and 76.4%FR (RM2.07) ahead. News Bites Bullish Aim Group and YTL Communications Sdn Bhd, a subsidiary of YTL Power International Bhd, have formed a strategic joint venture to develop next-generation common fibre infrastructure. IHH Healthcare Bhd is expanding its footprint in Sarawak with a RM400mn investment in Gleneagles Hospital Kuching. The hospital will become the 19th in IHH Healthcare Malaysia's network. Berjaya Assets Bhd's subsidiary, Berjaya Assembly Sdn Bhd, has entered into a RM10mn joint venture with HSHP Auto Technology Sdn Bhd and PG Car Centre Sdn Bhd to form Berjaya Autotech Sdn Bhd, to expand its automotive assembly business. NESTCON Bhd's wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has accepted a RM58mn letter of award from ST Dynamo DC Sdn Bhd for infrastructure works in Edupark West, Johor Bahru. Aumas Resources Bhd has refuted claims that its subsidiary, Wullersdorf Resources Sdn Bhd, has been operating without a valid license or Environmental Impact Assessment approval. Hibiscus Petroleum Bhd repurchased 305,400 ordinary shares for RM520,695, according to a bourse filing. The oil and gas exploration and production firm acquired the shares at prices between RM1.69 and RM1.71 per share. Innoprise Plantations Bhd recorded a more than twofold increase in 4QFY24 net profit, reaching an all-time high of RM36.2mn compared to RM16.6mn a year ago, driven by stronger crude palm oil prices. UOA Development Bhd's net profit for FY24 rose 2.8% YoY to RM287.3mn, up from RM279.6mn in FY23, supported by stronger revenue due to contributions from ongoing developments. 99 Speed Mart Retail Holdings Bhd's net profit for FY24 rose 22.5% YoY to RM490.3mn from RM400.2mn, supported by higher revenue and other operating income. MSM Malaysia Holdings Bhd posted a strong turnaround in 4QFY24, driven by lower production costs. The producer of Gula Prai refined sugar recorded a net profit of RM71.7mn, up from RM42.9mn in 4QFY23. CTOS Digital Bhd's net profit fell 42.2% YoY to RM32.4mn for 4QFY24 from RM56mn, mainly due to higher tax expenses arising from the absence of a tax credit. Tourist arrivals from China to Malaysia rose to 3,725,894 in 2024, with an impressive increase of 130.9% YoY, according to Malaysia's Tourism, Arts, and Culture Ministry. Singapore's key consumer price gauge rose 0.8% in January from a year earlier, lower than economists' forecasts and the smallest rise in more than three years, official data showed on Monday. President Donald Trump said tariffs scheduled to hit Canada and Mexico next month were "on time" and "moving along very rapidly" following an initial delay, even as a US official cautioned the schedule could be less certain. The European Union is broadening the list of US goods it will target with retaliatory tariffs if US President Donald Trump follows through on his threat to impose duties on steel and aluminum exports, according to people familiar with the matter. Eurozone inflation rose slightly to 2.5% in January, as initially estimated, driven by higher energy prices, final data from Eurostat showed on Monday. Source: TA Research - 25 Feb 2025 Share this Labels DIALOG HIBISCS YTLPOWR IHH BJASSET NESTCON AUMAS INNO UOADEV 99SMART MSM CTOS Related Stocks Chart Stock Name Last Change Volume Market Buzz.