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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.

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.

Google suspends some business with Huawei after Trump blacklist

NEW YORK (Reuters): Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday (May 19), in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world.

A menu displaying icons for Huawei's App Gallery application and Google Play Store application on a Huawei P20 Pro smartphone. - Bloomberg

US says it may scale back some Huawei trade restrictions

NEW YORK: The U.S. Commerce Department may soon scale back restrictions on Huawei Technologies after a recent blacklisting made it nearly impossible for the Chinese company to purchase goods made in the United States, a department spokesperson said on Friday.

The Commerce Department may issue a temporary general license to allow time for companies and people who have Huawei equipment to maintain reliability of their communications networks and equipment, the spokesperson said

FBM KLCI finds its footing at 1,600

REVIEW: As a fresh chapter in the US-China trade war saga unfolded, global markets swung along on high speculative interest.