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Markets
Japan's Nikkei rises as investors weigh Iran conflict outlook, Fed decision
TOKYO: Japan's Nikkei share average rose on Wednesday as investors weighed prospects for an end to the Middle East conflict and awaited the U.S. Federal Reserve's policy decision.
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Commodities
Oil slides on Iran supply prospects as traders wait on Warsh
SINGAPORE: Tumbling crude prices on news that Iranian fuel may soon hit global markets promised inflation relief and pushed bond yields lower on Wednesday, while stocks and currencies were quieter ahead of Kevin Warsh's debut meeting as Federal Reserve chair.
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Corporate News
ESG-ready Malaysian businesses better positioned to penetrate EU market, says GRI
KUALA LUMPUR: Malaysian companies equipped with strong environmental, social and governance (ESG) practices and reporting standards will likely have a distinct competitive advantage and access to business opportunities in the European Union (EU) and other international markets, a sustainability reporting expert said today.
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Aviation
Airbus confirms cancellation of AirAsia X order for 15 A330-900 aircraft
KUALA LUMPUR: Airbus has confirmed that AirAsia X's order for 15 Airbus A330-900 aircraft has been cancelled by mutual agreement between the two parties.
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Forex
Dollar on the defensive ahead of first Fed decision under Warsh
SINGAPORE: The dollar eased on Wednesday ahead of the Federal Reserve's first policy decision under Chair Kevin Warsh, with lingering optimism over an interim U.S.-Iran peace deal underpinning risk appetite and dampening demand for the U.S. currency.
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Economy
Singapore's May exports rise bigger-than-expected 38.4% y-o-y, boosted by AI demand
SINGAPORE: Singapore's non-oil domestic exports rose by 38.4% in May from a year earlier, data showed on Wednesday, as robust AI-related demand boosted exports of integrated circuits, disk media products and PCs.
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Economy
Japan's exports beat forecast in May on strong chip demand
TOKYO: Japan's exports rose for a ninth straight month in May, data showed on Wednesday, as solid semiconductor-related demand continued to offset a blow from major supply disruptions caused by the U.S.-Israeli war with Iran.
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Commodities
Oil hits 3-month low on Hormuz reopening hopes
Oil prices fell about 5% for a second day in a row to a three-month low on Tuesday as details emerged of an interim deal to end the war in the Middle East and reopen the Strait of Hormuz, including an agreement to allow Iran to sell oil.
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Markets
Nasdaq, S&P 500 slip while Dow hits record close
The Nasdaq Composite and the S&P 500 finished lower on Tuesday under pressure from technology stocks, while the Dow Jones Industrial Average marked its second straight record close and SpaceX rallied to become the fifth-most valuable US company.
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Corporate News
Optimistic outlook for Kerjaya Prospek Group
Analysts are mostly positive on Kerjaya Prospek Group Bhd's resilient growth, given the property developer's capability to expand its client portfolio, with contract replenishment remaining on track.
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Markets
Investor confidence surges in state fund
State asset fund Danantara's inaugural international bond offering, which was three times oversubscribed, reflects growing confidence in Indonesia's economic outlook and the fund's investment strategy, according to Danantara chief executive officer Rosan Roeslani.
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Economy
Indonesian exporters face rising credit risks, Fitch warns
Local commodity exporters are facing heightened credit risks as new regulations mandate single-door export arrangements through state-owned PT Danantara Sumberdaya Indonesia (DSI), a subsidiary of state asset fund Danantara, according to a Fitch Ratings report.
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Economy
Iran deal eases fears for South Korea’s export-driven economy
The United States and Iran's agreement to end their war and reopen the Strait of Hormuz raises hopes in export-dependent South Korea of a normalisation of global energy supplies and a resumption in shipments by vessels stranded for months in the Persian Gulf.
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Markets
Stricter rules for corporate bond issuance
The government has introduced a new regulatory framework governing private corporate bond offerings in the domestic market and bond issuance in overseas markets, with stricter requirements on the use of proceeds and greater accountability for issuers.
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Economy
Thailand eyes 2026 GDP forecast revision as war risks cool
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas says an end to the Middle East war would be a strongly positive signal for both the global and Thai economies, as the world would move into recovery mode.
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Corporate News
Sino-Pakistani tyre maker makes landmark debut in Pakistan
A joint Sino-Pakistani tyre manufacturer debuted on the Pakistan Stock Exchange (PSX), a move that market participants described as the first listing by a Chinese-invested company on the country's bourse and a milestone in the integration of industrial and financial cooperation between China and Pakistan.
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Corporate News
Sum Technology profit growth trajectory intact
ACE Market-bound Sum Technology Bhd's earnings growth is expected to gain traction, given the group's niche positioning within the cleanroom and mission-critical engineering space, says MBSB Research.
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Insight
How realistic is tokenised real estate in Malaysia?
"Tokenisation will transform real estate and make it liquid. It will democratise home ownership forever!"
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Commodities
Wall Street majors cut oil forecasts on deal to reopen Hormuz Strait
Wall Street's biggest banks are cutting their oil price forecasts for the coming quarters, as optimism grows over a revival of Middle East crude output following an interim deal to reopen the Strait of Hormuz.
