Commodities

Gold ticks up, US inflation data in focus

GOLD prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance.

Markets

Autoris makes its debut with 10 sen premium over its 10 sen IPO price

KUALA LUMPUR: Autoris Group Holdings Bhd, which specialises in loss adjusting services for both motor and non-motor segments, saw its shares rise during its debut on the Bursa Malaysia’s LEAP Market today.

Banking

China c.bank kicks off 500 bln yuan swap facility to aid stock market

HONG KONG/SHANGHAI: China's central bank said on Thursday it would start accepting applications from financial institutions to join a newly created funding scheme, initially worth 500 billion yuan ($70.62 billion), to aid the capital market.

Analyst Reports

Hartalega to benefit from US tariffs revision on Chinese glove makers

KUALA LUMPUR: Hartalega Holdings Bhd is expected to benefit from the recently announced upward United States (US) tariff revision on Chinese glove makers moving forward.

Economy

Asean-BAC outlines initiatives for 2025, including Asean IPO - Nazir Razak

VIENTIANE: The ASEAN Business Advisory Council (ASEAN-BAC) has outlined several key initiatives that will be highlighted during Malaysia's chairmanship next year, including an initial public offering (IPO) framework for the 10-member bloc.

Corporate News

Norway wealth fund ends observation of Supermax, two others

Norway's sovereign wealth fund has ended observation of Supermax, two years after placing the Malaysian medical glove maker under watch over allegations that the company contributes to human rights violations.

Economy

Anwar: Good governance, clear policy drive Malaysia's economic growth

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said the recent positive economic developments in Malaysia were the result of better governance, together with clear policy formulation, especially in the industrial, digital transformation, energy and semiconductors sectors.

Analyst Reports

Analysts positive on Guan Chong's growth prospects following Ivory Coast acquisition

KUALA LUMPUR: Guan Chong Bhd's shares rose in early trade Tuesday after the company announced plans to acquire a 25% stake in Transcao Côte d'Ivoire, a cocoa processing firm based in Ivory Coast.

Markets

Bursa Malaysia opens higher following positive lead from Wall Street

KUALA LUMPUR: A strong performance on Wall Street overnight provided a positive lead, boosting market sentiment and lifting Bursa Malaysia at the opening today.

Forex

Ringgit opens lower as US signals gradual approach to cutting interest rates

KUALA LUMPUR: The ringgit opened lower against the US dollar as the minutes of the US Federal Reserve (Fed) meeting showed Fed officials were divided on whether to cut interest rates by half a point in September, implying smaller cuts going forward, said an analyst.

Corporate News

Trading ideas: Kumpulan Kitacon, Tropicana, LBS Bina, Key Asic, Guan Chong, Skyworld

KUALA LUMPUR: Stocks to watch on Thursday include Kumpulan Kitacon Bhd, Tropicana Corp Bhd, LBS Bina Group Bhd, Key Asic Bhd, Guan Chong Bhd and Skyworld Development Bhd.

Commodities

Oil prices fall on swelling US crude inventories

Oil prices fell on Wednesday after US data showed rising crude inventories, but losses were limited by the risk of Iranian supply disruptions caused by the Middle East conflict and Hurricane Milton in the US.

Markets

S&P 500 and Dow score record closing highs

Wall Street stocks advanced on Wednesday with the S&P 500 and the Dow scoring record closing highs after the release of Federal Reserve meeting minutes and ahead of September inflation data and the earnings season.

Corporate News

BFood to open Paris Baguette shops in Brunei, Thailand

Berjaya Food Bhd (BFood), via Berjaya Food International, has entered into a master franchise agreement to introduce and operate Paris Baguette stores in Brunei and Thailand.

Corporate News

Press Metal likely to record higher FY25 earnings

Press Metal Aluminium Holdings Bhd is expected to face challenges in the second half of the year (2H24) before charting commendable earnings growth in the financial year 2025 (FY25).

Corporate News

US tariff positions Hartalega for a profit upsurge

Hartalega Holdings Bhd stands to benefit from the impending 50% import tariff by the United States on China-made gloves by 2025, given its large revenue exposure to the US market.

Forex

Ringgit one of the best performing currencies globally

The ringgit was one of the best-performing currencies globally in the third quarter of this year (3Q24), strengthening 14.4% against the US dollar and 11.4% on a year-to-date basis, says Bank Negara’s Financial Markets Committee (FMC).

Corporate News

Ringgit strength against yuan a boon for MR DIY

Concerns with MR DIY Group (M) Bhd centred around its increasing market saturation seem to have dissipated and there are a few catalysts to spur growth.

Corporate News

3REN to raise RM31mil from IPO

3REN Bhd, an automation solutions and engineering services provider, is looking to raise RM30.8mil through a public issue of 110 million new ordinary shares at an issue price of 28 sen per share under its initial public offering (IPO) prospectus launched yesterday.

Corporate News

IOIProp aims for over RM5bil in FY25 launches

IOI Properties Group Bhd (IOIProp) plans to launch over RM5bil worth of properties in the financial year ending June 30, 2025 (FY25), surpassing FY24’s RM4.49bil of residential, commercial and industrial product launches.