Top foreign and local stories at 4pm

Energy

Brent crude was 0.71% lower to US$47.74 per barrel at 3.19pm.

Forex

Ringgit down 0.15% to 4.0310 versus the US dollar at 3.42pm.

Top foreign stories 

Kuroda: BoJ will act decisively using its ‘ample’ tools: Bank of Japan governor Haruhiko Kuroda said on Friday the central bank will act “decisively” to achieve its 2% inflation target, stressing that it still has “ample” policy options available if it were to expand stimulus again. — Reuters

German economic growth more than doubles in Q1: The German economy, Europe’s biggest, grew more than expected in the first three months of 2016, driven primarily by robust domestic demand, official data showed on Friday. German gross domestic product expanded by 0.7% in seasonally and calendar-adjusted terms in the period from January to March, the federal statistics office said. — AFP

South Korea holds policy rate for 11th month, analysts see June cut: South Korea’s central bank kept its policy rate at a record low 1.50% on Friday for an 11th straight month as expected, believing economic recovery could continue at the current level without a cut, although many analysts expect a move in June. — Reuters

China’s global shopping spree accelerates: China’s outbound M&A deals could rise to US$150 billion this year, smashing last year’s record as abundant liquidity allows firms to upgrade their technology and acquire brands, a top executive at the country’s leading domestic investment bank said. — Reuters

Top local stories

Malaysia’s economy grew at 4.2% in Q1: Malaysia’s economy grew at a slower pace of 4.2% in the first quarter of 2016, due to slower growth in the manufacturing and services sectors, but the overall growth was still above economists’ forecast of 4%. — StarBiz

Bank Negara sets up Financial Markets Committee: Bank Negara has set up a Financial Markets Committee to review and draw up comprehensive strategies for wholesale financial markets. The central bank said the main objective of the committee was to broaden industry engagement and meet the diverse and complex demands of a more developed and internationally integrated economy. — StarBiz

Digi alllocates RM904m for capex this year: Digi.com Bhd has allocated RM904 million for capital expenditure (capex) this year to improve its network and expand its coverage. - Bernama

Handal Resources Q1 earnings fall 60%: Handal Resources Bhd reported a 60.1% fall in earnings to RM212,000 in its first quarter due to lower contributions from its crane fabrication and workover divisions. The integrated offshore crane services provider and fabricator said its revenue, however, was up 10.4% to RM22.4mil from RM20.3mil a year earlier. — StarBiz