Markets

Asian stocks rise as AI capex ramps up, oil at six-week highs

SINGAPORE: Asian stocks rose on Thursday after U.S. technology firms outlined significant capital spending plans that are likely to benefit chipmakers in the region, while the escalating war in the Middle East pushed oil prices to six-week highs.

Corporate News

Nestle beats Q2 organic sales expectations, forms waters joint venture

LONDON: Nestle on Thursday posted slightly better than expected second-quarter organic sales growth and said it expects to raise around 3 billion euros ($3.43 billion) from a joint venture with investment firm Platinum Equity for its waters and premium beverages business.

Corporate News

Betamek's 1Q net profit jumps on higher sales volume

KUALA LUMPUR: Betamek Bhd registered a net profit of RM8.25mil in its first financial quarter ended June 30, 2026, as compared to RM5.39mil in the year-ago quarter as it achieved a higher quarterly sales volume from major customers.

Corporate News

Westports records higher net profit of RM360.9mil in 2Q, div of 14.98c/share

KUALA LUMPUR: Westports Holdings Bhd is expecting overall container throughput to be about the same as in the previous year, as it anticipates a gradual recovery in energy supply to pre-crisis levels.

Banking

Maybank, CGIF ink MOU to strengthen Asean+3 local currency capital markets

KUALA LUMPUR: Maybank and Credit Guarantee and Investment Facility (CGIF) have signed a memorandum of understanding (MoU) to strengthen and deepen local currency capital markets in ASEAN+3 markets (Southeast Asia, China, Japan and South Korea).

Markets

Japan's Nikkei rises as chip shares gain, BOJ's rate hike prospects weigh

TOKYO: Japan's Nikkei share average rose on Thursday, as chip-related stocks tracked their U.S. peers higher overnight, but prospects for an early rate hike from the Bank of Japan limited gains.

Economy

Australia jobs blow past expectations in June, cements bets of another rate rise

SYDNEY: Australian employment surged past all expectations in June, data showed on Thursday, in a sign of economic resilience that had markets wagering another hike in interest rates would be needed to restrain inflation.

Taxation

Tax management an integral part of corporate governance - IRB

KUALA LUMPUR: Tax management has become an integral part of corporate governance strategy as more companies place greater emphasis on tax compliance, risk management, and transparency in their business operations, the Malaysian Inland Revenue Board (IRB) said today.

Markets

Weak rebound on FBM KLCI as oil prices surge

KUALA LUMPUR: A lacklustre opening on Bursa Malaysia reflected the growing unease in global markets as oil prices surged overnight while the US tech sector slumped amid concerns over excessive spending.

Forex

Ringgit eases against US$, tracks major currencies

KUALA LUMPUR: The ringgit eased against the US dollar in the early session, tracking other major currencies, as the domestic unit is likely to stay cautious amid lingering West Asia tensions that further disrupt global oil and gas flows.

Economy

South Korea economy expands 0.6% q-o-q in Q2, better than expected

SEOUL: South Korea's economy grew faster than market expectations in the second quarter, driven by a semiconductor export boom that offset a decline in construction investment, advanced estimates from the Bank of Korea showed on Thursday.

Corporate News

Trading ideas: Maxis, Velesto, AME, Orkim, GDB, MyNews, OCR, Prestar, MTT, Focus, United Plantations, Eco-Shop, CTOS, UOA REIT

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

Corporate News

Tabung Haji becomes substantial shareholder in Focus Point

KUALA LUMPUR: Lembaga Tabung Haji (TH) has emerged as a substantial shareholder in Focus Point Holdings Bhd after acquiring 570,000 ordinary shares in the optical retail chain operator on July 21.

Commodities

Oil settles at six-week high on Mideast tensions

Oil prices settled at their highest since June 11 on Wednesday on mounting supply concerns as hostilities continued to escalate between the US and Iran, while threats to shipping by the Iran-backed Houthi militia in Yemen further boosted prices.

Markets

Wall St dips as oil, tech earnings take focus

The Nasdaq led Wall Street lower on Wednesday with a mixed performance from technology stocks, as investors waited for key earnings reports to gauge the health of a market rally fed by enthusiasm for artificial intelligence.

Insight

An intelligence-based governance transition

WHAT if the next major investment loss is not caused by a lack of due diligence – but by a lack of independent challenge?

Economy

Danantara will have shut down 250 SOEs by end of July: Prabowo

State asset fund Danantara will have closed 250 state-owned enterprises (SOEs) by the end of July under its consolidation drive, President Prabowo Subianto says.

Corporate News

Samsung Display set to take OLED top spot

Samsung Display is on course to overtake LG Display in the mid-to-large organic light emitting diode (OLED) market by revenue in the third quarter, taking the lead for the first time as South Korean manufacturers hold onto a display segment Chinese competitors have yet to break into.

Banking

Seoul ponders regulation on how long bank chiefs can stay

South Korea's financial authorities are considering capping financial holding company chairs at two three-year terms, a governance overhaul that could reshape leadership succession at the country's biggest banking groups and reignite debate over regulators' role in corporate governance.

Economy

Milestone Czech food shipment lands in Vietnam

The first official shipment of pork products from the Czech Republic arrived in Vietnam on Tuesday, marking a new milestone in trade relations between the two countries.