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Asian markets edge up

TOKYO: Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. The index had declined 0.4 percent the previous day as plunging oil prices heightened anxiety about the outlook for broad demand and global growth.  Australian stocks rose 0.15 percent while Japan's Nikkei shed 0.5 percent.  All the same, stock market gains in Asia were limited after Wall Street extended their recent decline.

CIMB Research cuts earnings forecast for KL Kepong

KUALA LUMPUR: CIMB Equities Research cut its earnings forecasts for Kuala Lumpur Kepong’s (KLK) FY19-20F by 28%-36% to reflect lower crude palm oil (CPO) and palm kernel (PK) price assumptions.

CIMB Equities Research cut its earnings forecasts for Kuala Lumpur Kepong’s (KLK) FY19-20F by 28%-36% to reflect lower crude palm oil (CPO) and palm kernel (PK) price assumptions.

Scientex to make MGO for packaging firm Daibochi

PETALING JAYA: Scientex Bhd will launch a mandatory general offer (MGO) for Daibochi Bhd to expand the flexible packaging business after proposing to acquire a controlling 42.41% stake for RM222.50mil in a share swap.

Scientex managing director Lim Peng Jin said the synergistic merger would create a formidable regional giant from Malaysia with extensive resources to compete globally, offering an integrated range of flexible packaging solutions to a larger client base.

Ringgit extends slide on US Fed hike and oil prices

KUALA LUMPUR: The ringgit continued its downtrend against the US dollar in the early session today as expectations of an interest rate hike by the US Federal Reserve (Fed) next month hampered demand for the local note.

PublicInvest maintains forecasts on IOI on the back of weaker earnings

KUALA LUMPUR: PublicInvest research maintained its earnings forecasts on IOI Corp Bhd on the back of the announcement that the planter's core net profit of RM174.9mil was 36.5% weaker year-on-year due to softer earnings contribution from both plantation and resource-based segments.

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