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Aeon Credit up on news of securing money-lending licence

PETALING JAYA: Trading in Aeon Credit Service (M) Bhd shares rose to a high of RM15.90 yesterday following news that the group had obtained a money-lending licence from the Housing and Local Government Ministry.

Aeon Credit chief strategy officer Ajith Jayaram told StarBiz that the money-lending licence approval would enable the company to market its products and services to a greater number of customers, on top of its current patrons

Asian stock markets mixed

PETALING JAYA: Asian markets were mixed in trading for most of yesterday following news of Brexit uncertainties in the United Kingdom.

Market swing: A woman walking past an electronic board showing the Hang Seng Index outside a Hong Kong bank at noon yesterday. Asian markets are mixed as poor Japanese data and worries about global growth put a damper on trading. — AP

London, NY, HK no longer immune to the housing slump

NEW YORK: In the years since the financial crisis, global cities like London, Hong Kong and New York appeared to defy housing-market cycles, thanks to a concentration of financial jobs and the self-fulfilling belief that they offered investors a safe haven.

ZhongAn forms online insurance tie-up with Grab

KUALA LUMPUR: ZhongAn Online P&C Insurance Co Ltd’s subsidiary ZhongAn Technologies International Group Limited (ZA International) and Grab Holdings Inc will form a joint venture (JV) to enter the digital insurance distribution business in South-East Asia.

ZhongAn is the first Internet-based insurer in China while Grab is South-East Asia’s leading online-to-offline mobile platform.

Bull market is coming back

TOKYO: A less aggressive posture from the world’s central banks and moves by Chinese authorities to support economic growth will assure a rebound in equities from the US to China, according to veteran economist Allen Sinai.

KLCI closes lower on selling of Tenaga, Public Bank

KUALA LUMPUR: Bursa Malaysia stayed in the red throughout Wednesday on lacking of strong rerating catalysts while selling of Tenaga Nasional and Public Bank sent the FBM KLCI into the red.