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Malaysian tech stocks down after US blacklists Huawei

PETALING JAYA: Technology counters on Bursa Malaysia are feeling the heat following the escalation of trade tensions between the United States and China with restrictions imposed by the Trump-led administration against China’s telecommunication giant Huawei.

DWL Resources Q3 net loss narrows

PETALING JAYA: DWL Resources Bhd’s net loss narrowed to RM1.5mil for the third quarter (Q3) ended March 31, 2019, from RM2.3mil in the corresponding quarter last year, thanks to lower losses in its ceramic, construction and property development segments.

In its filings with Bursa Malaysia, DWL said the decrease in its revenue was mainly due to lower contribution from its ceramic segment. This was partially offset by an increase of revenue from its construction segment, while there was none in the corresponding quarter last year.

MCMC issues M&A guidelines for telecoms sector

PETALING JAYA: The telecoms industry regulator, the Malaysian Communications and Multimedia Commission (MCMC), has issued a set of guidelines on mergers and acquisitions (M&As) that will prohibit entities from lessening the level of competition in the marketplace and it can take action against the companies if breaches are found.

MCMC chairman Al-Ishsal Ishak said: “While M&As can allow our companies to achieve efficiency through greater scale and scope, as well as gain access to new technologies and markets, they can also serve to reduce competition and result in market dominance."

Selling of IHH pushes KLCI into the red

KUALA LUMPUR: Foreign selling of key stocks including IHH Healthcare and Genting in afternoon trade on Tuesday pushed the FBM KLCI into the red though Tenaga and RHB Bank help provided some support.

KLCI rises as US eases restrictions on Huawei

KUALA LUMPUR: The FBM KLCI put on 3.96 points to 1,609.32 following a pick-up in regional momentum as Washington eased trade restriction on China's Huawei.

Tech stocks under pressure after Nasdaq slump

KUALA LUMPUR: Tech-related stocks fell in early Tuesday trade, following the overnight slump of the Nasdaq on growing worries about the fallout from the US imposed curbs last week on China's Huawei.