Business

Malaysia to 'seriously' look into expanding settling foreign trade payments in local currencies

KUALA LUMPUR: Malaysia will "seriously" explore using local currencies with trading partners to mitigate volatile foreign exchange risks, Prime Minister Datuk Seri Anwar Ibrahim said.

Markets

Profit-taking drags FBM KLCI lower despite positive global cues

KUALA LUMPUR: The FBM KLCI opened lower on Friday as investors locked in profits following recent gains, despite positive cues from Wall Street and easing geopolitical tensions in the Middle East.

Forex

Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar today, recovering from yesterday's sharp decline amid cautious market sentiment following the US Federal Reserve's (Fed) latest policy decision.

Markets

Trading ideas: WCT, Top Glove, SunCon, EcoWorld, Binastra, LFG, BCM Alliance, Swift Energy, KHPT

KUALA LUMPUR: WCT Holdings Bhd, Top Glove Corp Bhd, Sunway Construction Group Bhd (SunCon), Eco World Development Group Bhd (EcoWorld), Binastra Corp Bhd, Lianson Fleet Group Bhd (LFG), BCM Alliance Bhd, Swift Energy Technology Bhd and KHPT Holdings Bhd are among the stocks to watch on Friday.

Commodities

Oil dips as US-Iran deal takes effect

Oil dipped as the US and Iran's interim peace deal took effect and a flurry of tankers began transiting the Strait of Hormuz, paving the way to restart the flow of millions of barrels shut in by the conflict.

Corporate News

Sum Technology jumps on ACE Market debut

Sum Technology Bhd has posted a strong start on its ACE Market debut, opening at 40 sen – a premium of 12 sen, or 42.9% – over its initial public offering (IPO) price of 28 sen.

Insight

SPACs are back, thanks to Wall Street’s mega-IPO frenzy

Special-purpose acquisition companies (SPACs) are making a comeback.

Energy

Jakarta faces 20 million tonnes of coal shortfall

State electricity firm PT Perusahaan Listrik Negara (PLN) is short of 20 million tonnes of coal to meet its annual operational needs, even as the government has ordered producers to supply 190 million tonnes to shore up stocks, Energy and Mineral Resources Minister Bahlil Lahadalia says.

Corporate News

Canada’s US$43bil submarine choice: S. Korean or German make

South Korea's naval ambitions are facing their most significant overseas test yet as Hanwha Ocean vies for a deal that could be worth up to US$43bil.

Property

Chinese policies deliver uptick in property sales

The traditional spring home-buying season, which typically peaks in March and April, stretched into May this year as policy support and targeted demand in first-tier cities drove a notable pickup in sales, helping to restore market expectations, experts say.

Markets

Analysts upbeat on Chinese A-shares upward cycle 

Analysts expect a slower but more sustained market uptrend for China equities, supported by the economy's resilience, a more market-friendly policy backdrop, attractive valuations, improving corporate earnings and the prospect of fresh capital inflows.

Economy

S’pore growth forecast nudged down to 3.5%

Private-sector economists expect Singapore's economy to expand by 3.5% in 2026, just a tad weaker than their previous forecast of 3.6%, on slower growth in private consumption – a measure of spending by households on goods and services.

Corporate News

Walmart to revamp Beijing store presence

Walmart is reported to be planning a recalibration of its physical retail presence in Beijing through the introduction of a new generation of smaller-format stores, signalling a strategic shift in response to the country's rapidly evolving retail landscape.

Markets

Largest Brazil credit manager buys into debt selloff

Itau Asset Management is increasing holdings of corporate debt across sectors including utilities, fitness chains and car rental companies, taking advantage of wider spreads that followed a bout of turmoil in Brazil's credit market.

Insight

Trillion-dollar meme stocks are here. Be ready

During the Covid-19 pandemic, meme mania swept through the United States stock market, short-squeezing and shuttering high-profile hedge funds.

Markets

Billions in SpaceX IPO trades rattle ETFs

A series of unusual multibillion-dollar flows has rippled through the exchange-traded fund (ETF) market in the past week, suggesting major investors are using a contentious method to get exposure to the initial public offering (IPO) of SpaceX.

Energy

Trump’s govt to pay US$765mil to scrap four wind leases

The Trump administration says it will pay US$765mil to power project developer Invenergy to terminate four wind leases off the coasts of New York, California and Maine.

Corporate News

Aramco seeks billions of dollars, plans to sell assets

Saudi Aramco is considering the sale of a stake in its sulphur business, three sources with knowledge of the matter tell Reuters, extending a strategy of tapping its infrastructure assets to raise tens of billions of dollars.

Economy

Fed holds rates steady, officials split over hikes

US Federal Reserve (Fed) officials have left interest rates unchanged and are split over whether they expect to raise rates this year.

Markets

Default shakes a US$80bil corner of Muni Market

More than two decades after Wall Street started pumping out a new type of bonds – those backed by the legal-settlement payments governments receive from cigarette companies – one batch has finally been driven into a default.