Weekly market round-up

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11-01-2022 – Here are some Investing and Economic insights:

  • The first week of 2022 saw investors ditching shares of technology companies with the sector falling more than 4%. Investors seems to be going out of tech and going into less hyped businesses such as energy and financials, and into names that they dumped during the peak of the pandemic — airlines and hotels. A big change from 2021.
  • While soaring fear of Omicron (again) is leading the headlines, investors do not seem alarmed by it. It’s the inflation that seems to worry them more — the effect it could have on interest rates and central bank policy.
  • Tencent Holdings Ltd. is nearing a deal to acquire the gaming handphone maker Black Shark, a move that could help it in the race to develop the metaverse. Black Shark, whose investors include Xiaomi, could pivot to making virtual reality (VR) headsets for its new parent. Metaverse is regarded as a virtual environment where people can interact with the internet – Bloomberg.
  • Malaysia: Number of unemployed persons declined further to 694,000 in Nov 2021 — the lowest since Mar 2020. The recovery is expected to improve further as more businesses have resumed their operations – DOSM.
  • Malaysia: Total loans continued to grow at a solid pace in Nov 2021, following higher household loans and business loans. Analysts maintained their “overweight” outlook on the banking sector – The Star.


Do You Know?

6.1 million EPF members now have less than RM10,000 in their EPF accounts – of which 3.6 million have less than RM1,000…

Lesson: Start planning seriously for your retirement. Use your Savings Goal in your Raiz app to set automatic savings!


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