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Markets

FBM KLCI reverses early gains to end morning session lower

KUALA LUMPUR: The FBM KLCI slipped into negative territory by midday, giving up early gains as weak external sentiment weighed on investor appetite.

Business

Australian agency mulled firing KPMG over data-handling rule breach, documents show

SYDNEY: KPMG Australia breached a contract with the country's biggest federal agency by transferring sensitive government material outside its secure environment, prompting officials to consider firing the firm, documents reviewed by Reuters show.

Business

Japan manufacturing growth slows to 7-month low in October, PMI shows

TOKYO: Japan's manufacturing sector expanded at its slowest pace in seven months in October as output and new order growth eased, a business survey showed on Friday.

Property

Singapore home prices climb; rents surge by most since 2023

Singapore's private home prices rose the most in almost two years and rents jumped, in a sign that the market remains buoyant even after a recent slowdown in sales.

Markets

Taiwan shuts US$5 trillion stock market as Typhoon Champi nears

Taiwan shut its $5 trillion stock market, schools and offices on Friday as Typhoon Champi barreled toward the island, bringing heavy rain and damaging winds that disrupted flights.

Banking

Malaysia Aviation Group secures US$75mil trade finance facility from Citi

KUALA LUMPUR: Malaysia Aviation Group (MAG) has secured a US$75mil structured trade finance facility from Citi to support its supply chain operations and working capital requirements across Asia.

Economy

Japan core inflation exceeds BOJ target, cements near-term rate hike chance

TOKYO: Japan's annual core consumer inflation exceeded the central bank's 2% target in September for the first time in nine months, data showed on Friday, a sign of broadening price pressure that cements the case for a near-term interest rate hike.

Commodities

Palm oil glut lures Indian buyers as price gap to rivals widens

A palm oil glut is making the crop increasingly attractive against rivals, luring buyers in top importer India and other major markets.

Business

PM Anwar fulfils promise to expedite flood mitigation projects, help long-suffering victims

KUALA LUMPUR: Staying true to Prime Minister Datuk Seri Anwar's promise made more than three years ago, the government has expedited the implementation of flood mitigation projects to ease the burden and financial hardship inflicted on victims almost seasonally by this natural disaster.

Corporate News

Govt allocates RM1bil to Urusharta Jamaah for early redemption of sukuk in 2027

KUALA LUMPUR: The government has allocated RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) for the early redemption of sukuk in 2027, thereby strengthening the cash flow of Lembaga Tabung Haji (TH).

Markets

FBM KLCI slips in early trade as Wall Street sell-off weighs

KUALA LUMPUR: Bursa Malaysia started Friday's session on a cautious note, tracking overnight weakness on Wall Street amid renewed worries over AI spending.

Forex

Ringgit opens higher as AI investment concerns weigh on greenback

KUALA LUMPUR: The ringgit opened higher on Friday as the greenback weakened after equity prices fell amid heightened concern over artificial intelligence (AI)-related investments.

Corporate News

Trading ideas: CIMB, RHB Bank, Pavilion REIT, Foodie Media, TSH Resources, Kerjaya Prospek, Harbour-Link, Exsim Hospitality, Meridian

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Energy

Alaska LNG costs may exceed forecasts

A US$44bil-plus liquefied natural gas (LNG) project in Alaska that Washington is pressing South Korea to back could face sharply higher costs, a consulting report warns.

Corporate News

Adviser rules out Petrobras privatisation

If Flavio Bolsonaro wins Brazil's presidential runoff on Oct 25, he will give the nation's state oil company broad freedom to reshape its portfolio while seeking to bring more private investment into sectors dominated by the state-controlled oil producer, according to one of his energy advisers.

Corporate News

Chevron sharpens US Gulf focus with asset sale

Chevron is exploring the sale of some of its older oil and gas assets in the US Gulf, the company has confirmed to Reuters, part of an effort to focus on high-growth developments in the region.

Corporate News

Meta boosts bet on AI with capex plan, stocks

Meta Platforms Inc has boosted its capital spending outlook and announced plans for a new class of non- voting stock, escalating its already-stratospheric bet on artificial intelligence (AI).

Corporate News

Petra Energy poised for earnings recovery

Petra Energy Bhd has finally turned a corner, according to MBSB Research.

Economy

Suahasil opposes civil servant salary payments via cooperatives

Salary payments for civil servants will continue to be made via bank transfer under the current mechanism, Finance Minister Suahasil Nazara has said, following a proposal to channel salaries via President Prabowo Subianto's flagship Red and White Cooperatives programme.

Corporate News

Danantara completes land acquisition in Mecca

State asset fund Danantara, through its investment holding company PT Danantara Investment Management, has completed the acquisition of 4.4 ha of land in Mecca, Saudi Arabia, expanding its investment in the holy city's hospitality sector for developing an integrated complex to serve Muslims travelling for haj and umrah (minor haj), including Indonesian pilgrims.