Toshiba shareholders agreed to split off its NAND flash memory business.
Energy
Brent crude was 0.14% higher to US$55.88 per barrel at 3.34pm.
Forex
Ringgit down 0.04% to 4.2290 versus the US dollar at 3.45pm.
Top foreign stories
Nippon Life in talks to buy majority of MassMutual Japan unit: Japan’s biggest private-sector life insurer, Nippon Life Insurance Co, is in talks to buy a majority stake in US-based MassMutual Financial Group’s Japan unit, sources said on Thursday. — Reuters
Australian retailers hit by worst sales decline in 4-1/2 years: Australian retailers suffered their worst decline in sales since early 2013 as debt-laden consumers tightened their purse strings, slashing spending on food, furniture and clothing, an outcome that bodes poorly for third-quarter economic growth. Data from the Australian Bureau of Statistics showed retail sales dropped 0.6% in August, confounding expectations for a 0.3% increase. — Reuters
Poll: Brexit worries to keep Britain’s FTSE in limbo: Britain’s blue chip FTSE 100 index will move little for the rest of the year and only drift higher in 2018, lagging Europe as uncertainties over Brexit negotiations bite investor sentiment, a Reuters poll showed on Thursday. Market participants see the FTSE moving little in the coming three months, finishing 2017 at 7,456 points. It closed at 7,468 on Tuesday. — Reuters
European stocks to face central bank test after strong 2017: European shares are set to end 2017 with close to double-digit gains, supported by a recovery in economic growth and corporate earnings, but the pace is likely to slow as the European Central Bank moves to cut its massive stimulus. — Reuters
Earnings, economic optimism to drive East Asian stocks higher: East Asia’s stock market bull run is expected to continue for the rest of this year and into next, driven by optimism about economic growth and better company earnings, a Reuters poll showed, bucking concerns that shares remain expensive. — Reuters
Bain Capital aims to list Toshiba chip unit in 3 years: US private equity firm Bain Capital LP on Thursday said it aims to list Toshiba Corp’s chip unit on the Tokyo Stock Exchange within three years, to cash in its investment after leading an US$18 billion acquisition of the business. — Reuters
IEA: Efficiencies helped households save up to 30% on energy bills in 2016: Improvements in energy efficiency helped households worldwide save between 10% and30% of their annual energy budget last year, the International Energy Agency (IEA) said in a report on Thursday. — Reuters
Top local stories
Rehda sees risks, currency issues weighing on property market: Real Estate and Housing Developers Association, Malaysia (Rehda) says risks, currency issues and the global environment challenges continue to weigh on the property sector. “Developers continue to hold back on launches and buyers are not buying although there is demand,” said president Datuk Fateh Iskandar Mohd Mansor. — StarBiz
Bison ventures into Japanese food, bakery in RM35.7m JVs: Bison Consolidated Bhd has entered into joint ventures with Japanese firms Gourmet Kineya Co Ltd and Ryoyu Baking Co Ltd to produce and sell ready-to-eat food and bakery products. Bison would have 51% equity interest in both JVs, in which it will invest RM35.7mil. — StarBiz
Liow: E-commerce boom will put Malaysia on global ligistics map: The evolvement of e-commerce sector will put Malaysia on track as a leading Asean logistics hub which will place it on the global logistics map, said Transport Minister Datuk Seri Liow Tiong Lai. Liow said world class infrastructure such as the Digital Free Trade Zone, the KLIA Aeropolis, new sea ports and rail connectivity would be significant catalysts for the logistics industry. — Bernama
September palm oil stockpiles highest since Feb 2016: Palm oil stockpiles in Malaysia likely rose for a third month in September to the highest level since February 2016, lifted by increasing production in the world’s second-largest grower. Inventories advanced 3.1% to 2 million tonness from August, a survey showed, up 29% from a year ago. — Bloomberg
FSPB launches guidance notes to code of ethics: The Financial Services Professional Board (FSPB) has launched the Guidance Notes to the Code of Ethics for the Financial Services Industry to instil a culture of professionalism in the industry through the development and advocacy of professional and ethical standards. — StarBiz
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