Latest
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Thailand
Thai protesters use emoticons to stay ahead of police
BANGKOK (Bloomberg): In Thailand's democracy, emoticons and retweets are becoming the new ballots.
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Forex
Ringgit rebounds as US stimulus hopes fuel appetite
KUALA LUMPUR: The ringgit rebounded to open higher versus the US dollar today, as the greenback retreated amidst uncertainties surrounding the country’s COVID-19 fiscal stimulus.
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Nation
Water supply restored in 83% of affected areas, says Air Selangor
KUALA LUMPUR (Bernama): Water supply in 1,077 areas or 83% of the total 1,292 areas that experienced water supply disruption when Phase 1, 2, 3 and Rantau Panjang of the Sungai Selangor Water Treatment Plants (LRA) were forced to close operation last Monday has been fully restored as of 6am Wednesday (Oct 21).
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Analyst Reports
AmInvest Research keeps Buy on HLFG, FV RM17.20
KUALA LUMPUR: AmInvestment Research is retaining its Buy on Hong Leong Financial Group (HLFG) with an unchanged fair value of RM17.20/share based on sum-of-parts valuation.
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Stock on the Move
Quick take: Nylex adds 5% on technical buy
KUALA LUMPUR: Nylex (M) Bhd’s rose over 5% in early trade Wednesday following a technical buy call from PublicInvest Research.
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Stock on the Move
Quick take: Handal Energy rises 8% on new contract
KUALA LUMPUR: Shares in Handal Energy Bhd rose over 8% in early trade after announcing a new contract from Mubadala Petroleum’s entity MDC Oil & Gas Ltd.
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Economy
Thai central bank chief to tackle uneven recovery
New governor looks at measures to boost economy
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Economy
Thailand’s leaders can’t afford confrontation
ANTI-GOVERNMENT marchers have been gathering across Thailand in defiance of a state of emergency, and their list of demands now stretches to include reining in the powerful monarchy. Prime Minister Prayuth Chan-Ocha has indicated he wants to talk. He could do with listening, too.
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Economy
Internet economy helps sustain growth in China
Beijing accelerates industrial transformation despite pandemic
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Corporate News
Doubling of RBI bond-buying suggests no move to direct financing
MUMBAI: The Reserve Bank of India’s decision to double secondary market bond purchases and its preference for a soft yield-control policy suggest Governor Shaktikanta Das plans to keep the government’s borrowing program afloat without breaking the monetary taboo of direct financing.
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Corporate News
Rising glove prices spell good news for Kossan
PETALING JAYA: The higher average selling price (ASP) of rubber gloves during the Covid-19 pandemic has analysts upbeat about Kossan Rubber Industries Bhd’s earnings.
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Economy
BlackRock braces for major restructuring
NEW YORK: BlackRock Inc says that the scale of restructuring needs globally could exceed the previous peak that followed the 2008 global financial crisis.
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Auto
How will Tan Chong’s microbus fare?
No clarity yet on deal to distribute King Long buses in Vietnam
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Economy
Further easing likely Down Under in October
SYDNEY: Australia’s central bank discussed the possibility of further monetary easing at its October board meeting, including cutting the cash rate towards zero and buying longer-dated government bonds, minutes of its most recent meeting showed on Tuesday.
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Banking
UBS lines up US$1.5bil for share buybacks
ZURICH: UBS Group AG posted better-than-expected third-quarter profit and set aside US$1.5bil for share buybacks next year as chief executive officer Sergio Ermotti prepares to hand over to Ralph Hamers.
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Corporate News
More Aussie QE threatens source of yield for Japan investors
SDYNEY: Japan’s record-buying spree of Australian bonds may cool off with the Reserve Bank of Australia (RBA) mulling an expansion of its quantitative easing programme.
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Economy
China biggest foreign investor in manufacturing for fourth year
KUALA LUMPUR: China remains Malaysia’s largest foreign investor in the manufacturing sector for the fourth consecutive year since 2016, with 32 foreign direct investments (FDIs) amounting to US$452.43mil (RM1.87bil) approved in the first six months of 2020.
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Banking
RHB Bank completes senior sukuk murabahah issuance
KUALA LUMPUR: RHB Bank has completed its first issuance of Senior Sukuk Murabahah worth RM300mil in nominal value under the sukuk murabahah programme.
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Economy
Never-ending Brexit sends traders to far-flung market corners
LONDON: As Brexit sends hedging costs soaring again, strategists are recommending a slew of less crowded ways to trade the never-ending political drama.
