Markets

Wall St set for lower open; jobs data, Middle East conflict in focus

Wall Street was poised to open slightly lower on Thursday after a moderate rise in jobless claims sparked worries about the health of the labor market, while cautious investors kept an eye on the

Economy

US weekly jobless claims rise moderately

WASHINGTON: The number of Americans filing new applications for unemployment benefits rose marginally last week, but Hurricane Helene's rampage in the U.S. Southeast and strikes at Boeing and ports could distort the labor market picture in the near term.

Corporate News

Levi Strauss shares fall on sluggish holiday quarter forecast

LEVI Strauss' shares slumped about 11% in premarket trading on Thursday after it forecast tepid holiday quarter revenue as the denim maker grapples with weak demand from retailers with consumers paring back spending.

Corporate News

Singapore-listed DFI acquires land under compulsory acquisition in Kedah

PETALING JAYA: Singapore-listed Duty Free International Ltd (DFI) has announced its compulsory land acquisition of several plots of land lots in Kedah.

Corporate News

Japan’s NH Foods ceases to be substantial shareholder in Lay Hong

PETALING JAYA: Japan’s NH Foods Ltd has ceased to be a substantial shareholder in poultry company, Lay Hong Bhd.

Forex

Ringgit weakens against greenback amid escalating geopolitical risks

KUALA LUMPUR: The ringgit ended lower on Thursday against the US dollar as the greenback strengthened on the back of heightened uncertainties on the geopolitical front.

Corporate News

Sungei Bagan revises acquisition deal with Kuchai Development, excludes RM7.68mil land

KUALA LUMPUR: Sungei Bagan Rubber Company (Malaya) Bhd has clarified that the transfer of agricultural land in Semenyih, Selangor, which was initially part of its acquisition deal with Kuchai Development Bhd, has been entirely excluded from the agreement signed on Dec 29, 2023

Corporate News

DS Sigma gets SC nod for transfer to Main Market

KUALA LUMPUR: DS Sigma Holdings Bhd has obtained approval from the Securities Commission (SC) for its transfer to the Main Market of Bursa Malaysia Securities Bhd.

Property

Tropicana’s Edelweiss development achieves 100% take-up rate

KUALA LUMPUR: Tropicana Corp Bhd’s award-winning Tropicana Gardens, an integrated and transit-oriented development (TOD) at Tropicana Indah, celebrated 100% take-up and topping off milestone for Edelweiss Serviced Residences, SOFO and Shoppes.

Banking

Maybank and Bank of Hangzhou collaborate to boost cross-border services and digital innovation

PETALING JAYA: Malayan Banking Bhd (Maybank) and the Bank of Hangzhou of China have tied up to enhance customer services and support cross-border business initiatives.

Markets

FBM KLCI reverses early losses, climbs 2.24 points

KUALA LUMPUR: The FBM KLCI swung between gains and losses throughout the day before closing firm on Thursday.

Commodities

Gold retreats as dollar firms ahead of key U.S. economic data

GOLD extended declines on Thursday, pressured by a stronger dollar, while investors were cautious ahead of key U.S. economic data that might provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.

Business

Budget 2025 to focus on economic sector and continue with structural reform agenda

KUALA LUMPUR: Malaysia’s Budget 2025 will prioritise the economic sector by continuing with the structural reform agenda, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Auto

Proton retains second place as Malaysian car sales dip in September

PETALING JAYA: National carmaker Proton recorded sales of 11,269 units (both domestic and international) in September to bring its year-to-date (YTD) total sales volume to 112,758 units.

Markets

China’s sudden stock rally sucks money from rest of Asia

A strong rebound in Chinese stocks is set to trigger a shift in global portfolios as some investors rush to catch the rally.

Corporate News

Pertama Digital reassures investors after stock plunged 30%

KUALA LUMPUR: Pertama Digital Bhd (PDB) is unaware of the reasons behind the recent dip in its stock prices, but assures stakeholders that it remains strong and well-positioned for sustainable growth, according to executive director Sabri Ab Rahman.

Banking

BNM: Domestic financial markets remain resilient amid global volatility

KUALA LUMPUR: Domestic financial market conditions have remained orderly despite heightened volatility in global financial markets during the second and third quarters of 2024, according to Bank Negara Malaysia (BNM).

Energy

Oil climbs on prospects of wider MidEast war, ample supply caps gains

SINGAPORE: Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook.

Forex

Malaysian ringgit, Thai baht lead Asia FX lower on Mideast tensions

ASIAN emerging market currencies extended steep losses on Thursday, led by the Malaysian ringgit and Thai baht, after escalating tensions between Iran and Israel continued to sustain safe-haven demand for a resurgent dollar.

Markets

Asian shares retreat from 32-month top, Japan rallies as rate risk eases

SYDNEY: Asian shares retreated from a 32-month peak on Thursday as the sizzling rally in Hong Kong took a breather, while Japan's Nikkei jumped as the risk of further tightening in monetary policy this year faded.