Latest
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Markets
BWYS inks underwriting agreement with M&A Securities for ACE Market IPO
KUALA LUMPUR: BWYS Group Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
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Aviation
Anthony Loke: Proposed MAHB privatisation boosts efficiency
PUTRAJAYA: The proposed privatisation of Malaysia Airports Holdings Bhd (MAHB) will boost the company’s efficiency through swift strategic decision-making and facilitate its way forward, said Transport Minister Anthony Loke.
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Forex
Asian FX ease, stocks struggle for direction on US rate uncertainty
EMERGING Asian currencies edged lower on Friday, while stocks largely flitted in and out of negative territory, as hawkish comments from Federal Reserve officials clouded the timeline for potential U.S. rate cuts.
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Commodities
Gold prices head for second weekly gain on Fed rate-cut optimism
Gold prices appeared set for a second consecutive weekly gain on Friday, after recent U.S. inflation data fuelled expectations that the Federal Reserve could cut interest rates twice this year, weighing on the dollar and Treasury yields.
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Commodities
Oil set for weekly gain on signs of improving demand
OIL prices gained on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand amid stronger economic indicators from key consumers China and the United States.
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Forex
BNM's initiatives help cushion pressure on the ringgit
KUALA LUMPUR: Bank Negara Malaysia’s (BNM) initiatives have helped cushion the pressure on the ringgit, resulting in the local currency appreciating by 0.5 per cent on a nominal effective exchange rate (NEER) basis.
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Markets
Stocks drift on uncertainty over timing of US rate cuts
SINGAPORE: Asian stocks slipped on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.
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Business
China to cut mortgage interest rates, home down-payment ratio to boost demand
BEIJING: China will cut interest rates of mortgage loans and down-payment ratios for homebuyers to boost lacklustre property demand, according to three statements released by its central bank on Friday.
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Corporate News
Itmax secures RM105.3mil contract from DBKL
KUALA LUMPUR: ITMAX System Bhd has been awarded a RM105.3 million Variation Order (VO) from the Kuala Lumpur City Hall (DBKL).
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Telcos
Maxis posts strong 1Q net profit of RM353mil
KUALA LUMPUR: Maxis Bhd is guiding for a low single-digit increase in service revenue in 2024 while earnings before interest, tax, depreciation and amortisation (Ebitda) is expected to remain unchanged.
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Markets
Bursa Malaysia's rally pushes on amid regional profit-taking
KUALA LUMPUR: Bursa Malaysia defied the profit-taking pressure seen in regional markets by keeping to an upward trend over the course of the early session.
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Economy
Malaysia's economy grows 4.2% in 1Q, beating expectations
KUALA LUMPUR: Malaysia's gross domestic product (GDP) grew at a rate of 4.2% in the first quarter of 2024, an increase from 2.9% growth in the preceding quarter as the economy was bolstered by strong private expenditure and a positive turnaround in exports.
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Economy
China's factories fire up but consumer, property weakness persists
BEIJING: China's factory output topped forecasts in April, helped by improving external demand, although retail sales unexpectedly slowed and the property sector remained a drag on the economy, piling pressure on Beijing to do more to support growth.
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Forex
Ringgit opens marginally lower against greenback as investors await 1Q GDP release
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Friday as investors await the announcement of gross domestic product (GDP) performance for the first quarter of 2024. The local note is expected to remain resilient in the immediate term.
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Markets
Bursa Malaysia rally to pause for profit-taking
KUALA LUMPUR: The domestic market is expected to take a breather as investors digest their gains following a rally to fresh two-year highs.
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STARPICKS
ZTE spearheads Malaysia's 5G revolution with its ‘Unfolding the Intelligent Future 2024’ event and receives the Malaysia Book of Records’ fastest 5G-Advanced live trial award.
GLOBAL leading provider of information and communication technology solutions ZTE Corporation announced the success of the "Unfolding the Intelligent Future 2024" event, which took place at the Four Seasons Hotel Kuala Lumpur on May 13.
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Corporate News
Trading ideas: IJM, TNB, AirAsia, Thong Guan, Seremban Engineering, UEM Sunrise
KUALA LUMPUR: Here is a recap of the corporate announcements making headlines.
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Markets
US stocks lose steam after Dow hits 40,000 mark
US stocks closed lower on Thursday after the Dow reached an intra-day high of 40,000 for the first time, as investors continued to recalibrate their rate-cut expectations following data showing a slowdown in inflation, as well as strong corporate earnings results.
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Economy
Experts see German economy picking up next year
Germany’s economy will gain some momentum in coming months, supported by strengthening household consumption, although it will still barely muster growth this year, according to Chancellor Olaf Scholz’s independent panel of experts.
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Insight
Toyota navigates the ‘pioneer’s trap’ for EVs
To get an idea of how Toyota Motor Corp views the electric vehicle (EV) business just take a look at how it reports car sales.