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Overnight Global Futures Lead
πŸ“† 21 Apr 2025
Commentary
(1) FKLI
Despite Wall Street's erratic overnight performance during a tumultuous session, the FKLI concluded Friday on a higher note. Because of the ongoing tensions between the US and China and the renewed uncertainty around former US President Donald Trump's erratic tariff plans, market sentiment remained cautious.

(2) U.S. Stock Index Futures
Market Closed

(3) FCPO
FCPO extended its losing streak for the fifth consecutive day, weighed down by ongoing concerns about increasing production. Adding to the downward pressure, domestic demand for palm oil and its derivatives remains sluggish, particularly in the crucial Indian market.

(4) COMEX Gold
Market Closed

(5) Crude Oil
Market Closed

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Affin Hwang Investment Bank Daily Insight
πŸ“† Monday 21April 2025

Top Call
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Other Calls

Retail Research
Week in Focus – Headwinds Ahead

Morning News and Market Summary

β€’ CIMB Group: Thai unit’s 1Q25 results up 34% yoy
β€’ Eco World, SD Guthrie and NS Corporation ink partnership to
develop industrial park in Negeri Sembilan

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 22 Apr 2025
Commentary
(1) FKLI
Amid cautious sentiment and foreign uncertainty, the FKLI closed flat on Monday. Meanwhile, the ringgit rose versus the US dollar to its highest level in almost 12 weeks. It will likely be difficult to sustain current gains given the absence of consistent purchasing pressure on the local front.

(2) U.S. Stock Index Futures
Following US President Donald Trump's attacks on Federal Reserve chair Jerome Powell, which shook investors dealing with an escalating trade war and fueled worries about the central bank's autonomy, Wall Street's major indexes fell more than 1% each on Monday.

(3) FCPO
Due to a higher ringgit relative to the US dollar and declining crude oil prices, FCPO closed lower for the sixth consecutive day. Market sentiment was also thought to be negatively impacted by the worry about growing output.

(4) COMEX Gold
As investor confidence in the U.S. economy is eroded by President Donald Trump's tariffs and threats against the independence of the Federal Reserve, gold prices broke $3,400 on Monday, setting a new record high.

(5) Crude Oil
Oil fell as markets watched Washington-Tehran negotiations over the Islamic republic's nuclear program and worried about how the US-led trade war might affect energy consumption.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Tuesday 22April 2025

Top Call
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Other Calls

Results Note – KIP REIT (BUY, maintain)

DPulze contribution boosts 9MFY25 DPU by 2% yoy

Retail Research – ChartTrek

β€’ Axiata Group Bhd (Technical BUY)
β€’ MBSB Bhd (Technical BUY)

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 23 Apr 2025
Commentary
(1) FKLI
The FKLI's losses risen, wiping out almost all of the gains from the previous Friday session. As Trump intensified his assault on the Federal Reserve, the reopening of Wall Street following an extended holiday weekend served to rekindle the selling pressure in international markets.

(2) U.S. Stock Index Futures
Following a steep sell-off in the previous day due to President Donald Trump's growing criticism of Federal Reserve head Jerome Powell, Wall Street's major indexes saw some recovery on Tuesday as investors turned their attention to corporate earnings.

(3) FCPO
Due to rising crude oil and soybean oil prices, FCPO concluded the day higher. As a weaker US dollar makes exports more competitive, soybean futures reportedly increased in response to indications of robust demand for US crops.

(4) COMEX Gold
Following a record-breaking run on Tuesday, gold prices declined as investors' confidence in the United States has been eroded by President Donald Trump's frequent threats to the independence of the Federal Reserve.

(5) Crude Oil
With worries about a US-China trade war still present and a risk-off mood returning to global markets after President Donald Trump's criticism of the Federal Reserve (Fed), oil stabilized after plunging on Monday.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Wednesday 23April 2025

Top Call
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Other Calls

Retail Research – ChartTrek

β€’ Alliance Bank Malaysia Berhad (Technical BUY)
β€’ LGMS Bhd (Technical BUY)

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 24 Apr 2025
Commentary
(1) FKLI
On Wednesday, the FKLI closed above the critical 1,500-point threshold, following positive sentiment in regional markets and positive outside signals. Following U.S. President Donald Trump's statements that he has no intention of firing Federal Reserve Chair Jerome Powell and that tariffs on China will be "nowhere near" the current 145%, the market became more optimistic.

(2) U.S. Stock Index Futures
Following President Donald Trump's easing of his threats to remove Federal Reserve chair Jerome Powell and optimism for a de-escalation in the US-China trade conflict, Wall Street's major indexes surged to one-week highs on Wednesday.

(3) FCPO
Due to rising crude oil and soybean oil prices, FCPO concluded the day higher. As a weaker US dollar makes exports more competitive, soybean futures reportedly increased in response to indications of robust demand for US crops.

(4) COMEX Gold
As enthusiasm for risky assets increased following President Donald Trump's announcement that he has no intentions to replace the head of the U.S. Federal Reserve and that he is making headway with China on tariffs, gold continued its decline from its all-time high on Wednesday, down more than 3%.

(5) Crude Oil
Opec+ would speed up its increases in oil production next month, which caused oil prices to drop about 2% on Wednesday. However, losses were halted when it was reported that US President Donald Trump might lower tariffs on Chinese imports.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Thursday 24 April 2025

Top Call
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Other Calls

1) Results Note - IGB Reit (HOLD Maintain)
1Q25 DPU grew by 8% yoy – within estimates

2) Retail Research – ChartTrek

⭐️ KSL Holdings Bhd (Technical BUY)
⭐️ V.S. Industry Bhd (Technical BUY)

3) Malaysia Economy
⭐️ CPI- Inflation rate eases to 1.4% yoy in March

4) Morning News and Market Summary

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 25 Apr 2025
Commentary
(1) FKLI
As investors wait for more clarityβ€”and ideally, a resolutionβ€”to the ongoing global tariff dispute that has afflicted markets in recent weeks, the FKLI is anticipated to stay in the vicinity of the psychological 1,500-point level in the near future.

(2) U.S. Stock Index Futures
As investors embraced a few encouraging corporate results and indications that the US was amenable to defusing its trade conflict with China, Wall Street's major indices surged Thursday.

(3) FCPO
Concern regarding increasing output in the upcoming weeks caused FCPO to close slightly lower. A further factor in the lower trade was the slowing purchase activity from important destinations, particularly India.

(4) COMEX Gold
A weak dollar and bargain hunting helped gold prices rebound on Thursday after dropping more than 3% the day before, although market focus remained on any developments about U.S.-China trade tensions.

(5) Crude Oil
With investors balancing a possible Opec+ output rise against contradictory tariff signals from the White House and ongoing US-Iran nuclear talks, oil prices recovered some of their losses on Thursday after dropping over 2% the day before.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Friday 25 April 2025

Top Call
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Other Calls

1) Company Update - Binastra (BUY Maintain)
Strengthen green capabilities via LF Lansen acquisition

2) Results Note - Unisem (SELL Maintain)

3) Retail Research – ChartTrek

⭐️ Thong Guan Industries Bhd (Technical BUY)
⭐️ Naim Holdings Bhd (Technical BUY)

4) Morning News and Market Summary
IJM Γ’β‚¬β€œ IJM completes 50% acquisition in JRL Group in the UK

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 28 Apr 2025
Commentary
(1) FKLI
Supported by regional market resilience and indications of a possible de-escalation in trade tensions between the US and China, FKLI continued to rise for the third day in a row. Despite claims of unauthorized access and trading activity involving many online trading accounts, the market managed to stay above the crucial psychological level of 1,500 points.

(2) U.S. Stock Index Futures
Despite struggling for direction during the day as investors negotiated conflicting messages over US-China trade and a mixed wave of corporate earnings, Wall Street's major indices remained on track for weekly gains on Friday.

(3) FCPO
Due to a price differential with soybean oil, FCPO is anticipated to trade on a bullish note, perhaps generating more buying interest. Local CPO stockpiles are still plentiful, and April's production exceeded expectations because to favorable weather conditions.

(4) COMEX Gold
As the dollar strengthened and there were indications that trade tensions between the United States and China were lessening following a report that Beijing has exempted certain U.S. items from its tariffs, gold prices plummeted 2% on Friday and were headed for a weekly decline.

(5) Crude Oil
Concerns over oversupply and the uncertainty surrounding US-China tariff negotiations were the main causes of the nearly 2% weekly drop in oil prices.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Monday 28 April 2025

Top Call
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Other Calls

Retail Research
Week in Focus – Technical Pullbacks Likely

Morning News and Market Summary
β€’ Astro reach RM 115m tax settlement with the Inland Revenue Board (IRB)


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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 29 Apr 2025
Commentary
(1) FKLI
As reducing US-China trade tensions improved investor optimism, the FKLI finished higher on Monday, regaining losses from the sell-off that was sparked by Trump's proclamation of Liberation Day.

(2) U.S. Stock Index Futures
As investors prepared for a week full of important economic data and results from some of Wall Street's largest businesses, the S&P 500 and the Dow edged higher in erratic trading on Monday. Meanwhile, US trade policy developments continued to be of interest.

(3) FCPO
Due to decreased soybean oil prices and the expectation of increased output in the upcoming week, FCPO closed the day lower. In addition to losses in related vegetable oil and caution ahead of April supply and demand, which pulled down on CPO futures, the market saw profit taking following a notable increase last week.

(4) COMEX Gold
As bargain hunting took over, gold prices turned around and slightly increased on Monday. At the same time, the market was paying close attention to a number of economic data points and developments in U.S.-China trade.

(5) Crude Oil
Because of concerns about demand brought on by the US-China trade conflict, crude oil prices dropped more than $1 a barrel on Monday.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Tuesday 29 April 2025

Top Call
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Other Calls

Results Note – Bursa Malaysia (HOLD, maintain)

Weak equities profit mitigated by a surge in derivatives


Sector Update – Auto & Autoparts (UNDERWEIGHT, maintain)

Mar-25 TIV stood at 73k units


Economic Update – Malaysia Economy – Robust Investments

MIDA highlights its strategies to attract investments


Retail Research – ChartTrek

Cahya Mata Sarawak Bhd (Technical BUY)
Infomina Bhd (Technical BUY)


Morning News and Market Summary

BAT Malaysia will be transitioning out of its current range of Vuse products from Malaysian market




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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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Overnight Global Futures Lead
πŸ“† 30 Apr 2025
Commentary
(1) FKLI
FKLI went back to negative territory as profit-taking held the above four-week highs. As investors expected fresh data from corporate earnings and US trade negotiations, Asian markets had a mixed performance.

(2) U.S. Stock Index Futures
As Wall Street investors awaited a barrage of corporate earnings and economic data for indicators on the effects of US President Donald Trump's tariff battle, a late-day wave of dip buying erased stock losses.

(3) FCPO
Weaker soybean oil prices and worries about increased production in the upcoming weeks caused FCPO to close lower. As traders evaluated the possibility of increased global oilseed supplies, soybean oil prices fell, which in turn tempered mood in the palm oil market.

(4) COMEX Gold
As investors prepared for important economic data this week to assess the Federal Reserve's policy outlook, gold sank about 1% on Tuesday as signs of a reduction in U.S.-China trade hostilities caused some safe-haven demand to decline.

(5) Crude Oil
Expectations that Opec+ will increase output despite the possibility that US President Donald Trump's intermittent trade tariffs could slow global economic growth and demand for the fuel caused oil prices to drop almost 2% to a two-week low on Tuesday.

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Affin Hwang Investment Bank Daily Insight    
πŸ“†  Wednesday 30 April 2025                                                 
                                               
Top Call                  
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Other Calls
1) Company Update – CIMB (BUY, maintain)
CIMB Niaga’s 1Q25: Steering through headwinds

2) ESG Thematic Note - Malaysia ESG Day
Solutions for a sustainable future

3) Retail Research - Chart Trek
β€’  Dufu Technology Corp. Bhd (Technical BUY)
β€’ Genetec Technology Bhd (Technical BUY)

4) Morning News and Market Summary
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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.                       
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Overnight Global Futures Lead
πŸ“† 02 May 2025
Commentary
(1) FKLI
Despite a mixed performance in regional bourses, the FKLI closed substantially higher on Wednesday as bargain-hunting gained traction after losses in the previous session. As important development areas in May, investors will now concentrate on the export and technology sectors.

(2) U.S. Stock Index Futures
As worries about the effects of US tariffs and the global trade war grew, Wall Street's major indices fell on Wednesday after statistics revealed the economy shrank for the first time in three years in the first quarter (1Q).

(3) FCPO
Expectations of increased output and muted export demand, which could raise domestic stock levels, caused FPCO to close lower on Wednesday. As traders expected a seasonal increase in supply over the next few weeks, which could surpass consumption and put more pressure on prices, the market became cautious.

(4) COMEX Gold
Pressured by signs of easing trade tensions and a vacation in China, the world's largest consumer, gold fell to a two-week low on Thursday. The U.S. payrolls report on Friday was also watched closely to assess the state of the economy.

(5) Crude Oil
As the global trade war weakened the outlook for fuel demand and concerns about growing supply also weighed, oil prices continued to fall Wednesday and were on track for their biggest monthly slump in over three years.

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Affin Hwang Investment Bank Daily Insight    
πŸ“†  Wednesday 2 May 2025                                                 
                                               
Top Call                  
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Other Calls
1) Retail Research - CharTrek
β€’ NationGate Holdings Bhd (Technical BUY)
β€’ Karex Bhd (Technical BUY)

2) Morning News and Market Summary
β€’ EcoWorld – EcoWorld & EcoWorld International Strategic Realignment

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.                       
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Overnight Global Futures Lead
πŸ“† 05 May 2025
Commentary
(1) FKLI
Together with the strong regional market performance and late purchases in stocks linked to data centers, construction, telecommunications, and real estate, FKLI recovered its earlier losses with an intraday high. Following China's indication that it is considering possible trade negotiations with the US, the market raised slightly.

(2) U.S. Stock Index Futures
Strong economic data and the possibility of a reduction in trade hostilities between the US and China helped Wall Street stocks rise on Friday, marking the second consecutive week of gains.

(3) FCPO
Friday saw FCPO close lower, reversing previous gains as market mood was affected by worries over increased output and a high level of local stocks. Expectations of a seasonal increase in production caused the market to become cautious, especially as estates begin their peak harvesting season in the second quarter of the year.

(4) COMEX Gold
Following a two-week low the previous day, gold saw a slight increase on Friday; nevertheless, a good employment report and a reduction in trade tensions left prices on course for a second consecutive weekly loss.

(5) Crude Oil
Ahead of an OPEC+ meeting to determine the group's output policy for June, traders became apprehensive, causing oil prices to drop more than 1% on Friday, marking their largest weekly losses since the end of March.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Monday 5 May 2025

Top Call
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Other Calls
1) Malaysia Economy – Manufacturing PMI
⭐️Manufacturing PMI slowed to 48.6 in April

2) Retail Research – Week in Focus
⭐In Overbought Territory


3)
Quantitative Research – Investor Insights
⭐️Around The World In 8 Charts

4) Morning News and Market Summary
⭐️Sunway REIT to dispose Sunway University and College Campus (KL) for RM613m

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
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