MIDF Research says cumulative net foreign inflow into Bursa for 2016 fell to RM2.42bil
Energy
Brent crude was up 0.86% to US$51.77 per barrel at 3.45pm.
Forex
Ringgit down 0.20% to 4.4225 versus the US dollar at 3.45pm.
Top foreign stories
Vietnam’s economic growth slips to 3-year low in Q1: Vietnam’s economy grew at its slowest pace in three years in the first quarter, government data showed on Wednesday, as production was weak in agriculture, mining and manufacturing. The General Statistics Office said annual growth in January-March was 5.1%. That was the slowest expansion for any quarter since the first three months of 2014. — Reuters
Solid growth seen for China’s manufacturers in March as construction booms: Activity in China’s vast manufacturing sector likely grew for an eighth straight month in March as a surprise rebound in the property market added to a construction boom, boosting sales of building materials from steel to cement, a Reuters poll showed. — Reuters
China’s Fosun CEO and VP step down in surprise reshuffle: Fosun International Ltd, one of China’s most aggressively acquisitive conglomerates, said its chief executive and vice-president stepped down in a surprise reshuffle that has raised concerns over the group’s strategy. — Reuters
Top local stories
SMEs being identified for listing: SME Corp Malaysia is working with Bursa Malaysia to identify potential Small and Medium Enterprises (SMEs) to be listed on the SME Market, which will be launched either in June or July this year. SME Corp chief executive officer Datuk Hafsah Hashim said a few companies have been identified and are undergoing the evaluation process. — Bernama
Mah Sing Group to launch six to seven projects this year: Mah Sing Group Bhd managing director Tan Sri Leong Hoy Kum said the company will launch between six and seven ongoing projects this year. “We will continue launching and not wait until the end of the year,” he said. — StarBiz
New IPOs to drive Bursa’s trading velocity higher: Potential new initial public offerings this year will likely drive Bursa Malaysia’s trading velocity higher than 27% achieved last year. Bursa Malaysia Bhd chief executive officer Datuk Seri Tajuddin Atan said Eco World International Bhd’s listing on April 3 would be one of the major highlights this year, given its large market capitalisation. — Bernama
Stronger quarters ahead for V.S. Industry: V.S.Industry Bhd is in for stronger quarters ahead buoyed, among others, by original design manufacturer brewer model production and seasonally stronger quarters for its US-based client Keurig Green Mountain Inc, says AmInvestment Bank Research. For the second quarter, the company raked in RM35.5mil in net profit compared with RM27.5mil a year ago. — StarBiz
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