Steep weekly falls on Wall Street pressured Asian shares on Monday. - EPA
Energy
Brent crude was 1.15% higher at US$47.51 per barrel at 3.47pm.
Forex
The ringgit up 0.36% to 4.0132 versus the US dollar at 3.55pm.
Top foreign stories
NYSE sees double-digit Asian IPOs through 2017, with focus on tech: The New York Stock Exchange sees technology companies driving a revival in new Asian listings and expects double-digit IPOs through the end of 2017 from the region, says the exchange’s global head of capital markets Garvis Toler. New listings should start picking up pace in the next months after a slow first half of the year, he says, — Reuters
ANZ reviews Asian retail banking operations: Australian and New Zealand Banking Group (ANZ) is reviewing its retail operations in Asia as it continues to “reshape” its institutional products and services in a bid to slash costs and boost returns, a senior executive said. — Reuters
‘Grumpy hold-outs’ could sink Bitfinex recovery plan after Bitcoin theft: Crypto-currency exchange Bitfinex’s plan to impose losses on all its trading clients for the theft by hackers of US$72 million in Bitcoin rests on two flawed pillars, according to lawyers. — Reuters
Thai Airways Q2 loss narrows as fuel expenses drop: Thai Airways International Pcl cut its losses for the second quarter, helped by a decline in fuel expenses and gains from an ongoing restructuring programme at the flag carrier. The state-controlled carrier made a net loss of 2.92 billion baht (US$84.15 million) for the April-June quarter, versus a 12.8 billion baht loss a year earlier. — Reuters
William Hill rejects revised 888-Rank approach: British bookmaker William Hill said on Monday it had rejected a revised takeover proposal from rivals 888 Holdings and Rank Group, saying it continues to undervalue the group. — Reuters
Japan’s economic growth fizzles out in second quarter: Japan’s economy stalled in the April-June quarter, data showed on Monday, missing market forecasts and rekindling worries about the government’s faltering bid to stoke a recovery. Growth in the world’s third largest economy was flat at zero on-quarter, falling below economists’ expectations for a modest 0.2% expansion, as weak exports and a fall in business spending dented activity. — AFP
Top local stories
Palm oil buyers hold off mending ties with Malaysia plantation giant IOI: Leading global buyers of palm oil are holding off on mending business ties with Malaysian plantation giant IOI Group despite an industry watchdog’s decision to reinstate the producer’s green certification. — Reuters
Sime Darby to develop REIT platform: Sime Darby Bhd
plans to develop a real estate investment trust (REIT) to generate resilient and recurring income stream, starting with the reverse takeover of Saizen REIT. — StarBiz
IGB sells Renaissance KL Hotel to Ventura for RM765m: IGB Corporation Bhd unit Great Union Properties Sdn Bhd is selling the Renaissance Kuala Lumpur Hotel to Ventura International Sdn Bhd for RM765mil as it unlocks its business assets at a favourable price. IGB said it expects to make a gain of RM85mil net of tax for financial year ending Dec 31, 2017. - StarBiz
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