Brent crude was 0.33% lower to US$62.95 per barrel at 3.12pm.
Ringgit down 0.04% to 4.1932 versus the US dollar at 3.21pm.
Top foreign stories
Wilmar pushes China listing to 2019: Robert Kuok controlled Wilmar International is now looking to list its China unit on the Shanghai Stock Exchange in the second half of 2019, eight years after the initial listing plan was first announced. — Reuters
Oil markets cautious as rising US output undermines Opec supply cuts: Oil prices fell on Tuesday as the prospect of further rises in US output undermined ongoing Opec-led production cuts aimed at tightening the market. Brent crude futures were at US$62.94 per barrel at 0415 GMT, down 22 cents, or 0.35%, from their last close. — Reuters
China’s economy cools as govt curbs hit factories, property and retailers: China’s economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution. Data on Tuesday pointed to moderating growth over the next few quarters, with year-on-year industrial output gain of 6.2% in October missing analysts’ estimates of a 6.3% rise, and below a 6.6% increase in September. — Reuters
Noble Group shares drop to lowest since 1999 after co-CEO quits: Shares in Singapore-listed Noble Group on Tuesday tumbled to their lowest in nearly two decades, after Jeffrey Frase resigned as co-chief executive officer. Noble Group Ltd’s shares on Tuesday slumped as much as 12.7% to S$0.192 (US$0.1411), their lowest since May, 1999. — Reuters
German economy powers on as trade, investments drive Q3 growth: Germany’s economy powered ahead in the third quarter thanks to buoyant exports and investments, data showed on Tuesday, as it cemented its role as the euro zone’s growth engine. Seasonally adjusted gross domestic product (GDP) rose by 0.8% on the quarter, stronger than the consensus forecast of in a Reuters poll of 0.6%, — Reuters
Top local stories
KWAP to allocate more money for foreign deals: The Retirement Fund Inc or KWAP aims to lift the overseas portion of its investment portfolio to as much as 15% from 12%, as the US$30 billion pension fund looks to boost performance while domestic returns slow, chief executive Wan Kamaruzaman Wan Ahmad told Reuters. With RM125 billion (US$29.83 billion) worth of assets under management, a 3 percentage point increase means a shift of US$900 million into foreign deals, a Reuters calculation showed. — Reuters
AirAsia chief says IPOs of Indonesia, Philippines units on course: AirAsia group CEO Tan Sri Tony Fernandes says the initial share sale plans of the Indonesia and Philippines units are proceeding well. He said the IPO for the Indonesia carrier is possible by year’s end or next year. Fernandes said there were no regulatory hurdles to the Philippine IPO, which will likely happen in mid-2018. — StarBiz
Malaysian and Dutch JV on big data business: Malaysia Infocomm Foundation and Xomnia B.V. of the Netherlands signed a framework cooperation agreement on Monday to set up a joint venture company in Malaysia specialising in the big data business. Infocomm founder Datuk Mohd Radzi Abd Latif said the joint-venture company would be set up within a year to create 20,000 data analysts and 2,000 data scientists by 2020. — Bernama
New additionss to MSCI Malaysia Index: Nestle (Malaysia), Press Metal Aluminium and SP Setia have been included into MSCI Malaysia Index with effect from Nov 30, giving a boost to the companies as they will be under the radar of global fund managers. In its November 2017 semi-annual index review for the MSCI Equity Indexes, MSCI said that under its MSCI Small Cap Index it had included Eco World International, George Kent, Hengyuan and Petron Malaysia. — StarBiz
Mudajaya unit to raise up to RM245m green SRI Sukuk: Mudajaya Group Bhd unit Sinar Kamiri Sdn Bhd has proposed to raise up to RM245mil green SRI Sukuk Wakalah to finance the construction of a solar photovoltaic energy generating facility of 49MWac in Sungai Siput, Perak. — StarBiz