Bumi Armada Secures RM578M in FPSO Contracts, Signals Strong Upstream Stability
The FBM KLCI rebounded strongly, closing above 1,525, driven by significant afternoon buying. However, the index is expected to trade between 1,500-1,520 today due to increasing regional volatility, influenced by Trump’s protectionist policies.
Malaysia’s 24% reciprocal tariff ranks 3rd lowest in the Asia-Pacific region, behind Singapore (10%) and the Philippines (17%). The highest tariffs are seen in Cambodia (49%), Vietnam (46%), Thailand (36%), and Indonesia (32%).
Technical View: RHBBANK (1066)
• Resistance Levels: RM7.04 (R1), RM7.20 (R2)
• Support Levels: RM6.80 (S1), RM6.70 (S2)
Investment Idea: NetEase Inc (HK.9999)
• BUY recommendation with a 15.9% upside potential, supported by strong technical indicators.
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