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Public Bank's late surge lifts KLCI above 1,700

KUALA LUMPUR: Public Bank's late surge pushed the FBM KLCI above the key 1,700 level on Tuesday after staying in the red most of the day in line with key Asian markets.

Labuan Corp receives RM12m building

LABUAN: Labuan Corporation (LC) today received a RM12 million five-storey commercial building, which will help the local authority to generate revenue for its coffers.

China to remain Malaysia's largest trading partner

KUALA LUMPUR: China will likely remain as Malaysia's largest trading partner, looking at the current trend, said Deputy International Trade and Industry Minister Ong Kian Ming.

China economy to stabilise without aggressive stimulus

HONG KONG: China’s more than $13 trillion economy will likely stabilize in the second half of 2019 without the need for aggressive stimulus, according to Goldman Sachs Group Inc. Chief Economist Jan Hatzius.

S. Korean economy gets fiscal spending lift

SEOUL: South Korea's economy expanded at the fastest pace in three quarters in the last three months of 2018 as a jump in government spending juiced up construction and investment, though weak exports cast a cloud over the outlook for growth.

"Increased fiscal spending towards the year end has cushioned the blow to exports, as shipments of chips and electronic products are falling," a central bank official said.

Asian shares, US stock futures dented by growth worries(Update)

SYDNEY: Asian shares and U.S. stock futures slipped on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, drifting away from a recent seven-week top.  Losses were led by Chinese shares, with the blue-chip index off 0.6 percent. Hong Kong's Hang Seng index was down 0.4 percent and Australia's main share index faltered 0.5 percent.  Japan's Nikkei, which had opened firmer, was flat. U.S. stock futures, which offer an indication of how Wall Street will open, were down about 0.5 percent.

IMF fears trade war and weak Europe could trigger sharp global slowdown

DAVOS, Switzerland: The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020 due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilize a slowing global economy.

nternational Monetary Fund (IMF) Managing Director Christine Lagarde gives a press conference on IMF World Economic Outlook ahead of the World Economic Forum (WEF) annual meeting on January 21, 2019 in Davos, eastern Switzerland.

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