Datuk Seri Abdul Wahid Omar.
Energy
Brent crude was 0.04% higher at US$51.54 per barrel at 3.30pm.
Forex
The ringgit gains 0.30% to 4.3278 versus the US dollar at 3.36pm.
Top foreign stories
Australia’s RBA holds rates at 1.50%, worried about wages: Australia’s central bank held rates steady for a ninth straight month on Tuesday in a widely expected decision as it sought to balance the risk of busting a debt-fuelled property bubble against subdued inflation and wages growth. The Reserve Bank of Australia (RBA) kept rates at a record low 1.5%, following easings in August and May last year. — Reuters
Fitch: China’s capital controls to hamper yuan internationalisation: China’s steps to control capital outflows and lingering expectations of further yuan depreciation are likely to impede the pace of yuan internationalisation, which has lost momentum over the last two years, international ratings agency Fitch said. — Reuters
Infosys plans to hire 10,000 US workers after Trump targets outsourcing firms: India-based IT services firm Infosys Ltd said it plans to hire 10,000 US workers in the next two years and open four technology centres in the United States, starting with a centre this August in Indiana, the home state of US Vice-President Mike Pence. — Reuters
Fed set to leave interest rates unchanged, may hint at June hike: The US Federal Reserve is expected to hold interest rates steady at its meeting this week as it pauses to parse more economic data but may hint it is on track for an increase in June. — Reuters
China April factory growth slows to weakest in 7 months: China’s factory sector lost momentum in April, with growth slowing to its weakest pace in seven months as domestic and export demand faltered and commodity prices fell, a private survey showed on Tuesday. The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) fell to 50.3 in April, missing economist forecasts’ of 51.0 and a significant decline from March’s 51.2. — Reuters
Top local stories
Global sukuk issuance at US$22.2b in Q1: Global sukuk issuance reached US$22.2 billion, as at end-March, slightly down from US$24.1 billion a year earlier, with Malaysia maintaining its leadership by accounting for 38.5% of the total issuance, says Ram Ratings. — Bernama
Wahid urges more listings of Islamic financial institutions on Bursa: The listing of more Islamic financial institutions on Bursa Malaysia is needed to boost the Islamic fund and wealth management industry going forward. The Permodalan Nasional Bhd (PNB) group chairman Tan Sri Abdul Wahid Omar said this would also strengthen Malaysia’s position as a global hub for such funds. — Bernama
DNex eyes double-digit revenue and profit growth: Dagang NeXchange Bhd (DNEX) is eyeing double-digit growth in revenue and profits this year driven mainly by its IT and e-services business, as well as from the growing power business. — Bernama
Foreign net buying on Bursa stretches for 12 consecutive weeks: There was an influx of foreign liquidity into Bursa last week despite it being a 4-day trading week, according to MIDF Research. The research house said foreign buying of equity listed in the open market (excluding off market deals) surged to RM1.45bil net. — StarBiz
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