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TOKYO (Reuters): Japanese trading house Sumitomo Corp is assuming under its earnings forecast for the year to March 2022 that no profits will be made from its telecommunications business in Myanmar because of political instability, an executive said on Friday (May 7).
KUALA LUMPUR: Bursa Malaysia is likely to trade in cautious mode next week as investors will be focusing on the release of Malaysia’s first-quarter 2021 (Q1 2021) gross domestic product (GDP) next week.
BRUSSELS (Reuters): The European Union and India will agree to revive stalled free-trade negotiations at a virtual summit on Saturday (May 8) while also seeking closer cooperation to combat climate change, as concerns about China bring Brussels and New Delhi closer.
HAINAN (Global Times): Hainan, the tropical resort destination known as China's Hawaii, is on track to become the biggest duty-free market in the world in the next two years, a report released on Friday (May 7) showed.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to undergo a technical correction next week after its strong rally recently.
U.S. investors who had been betting the Fed would raise rates as early as the end of next year abruptly retreated from those positions on Friday after a disappointing April employment report and now see the earliest the Fed might tighten roughly two years away.
NEW YORK: Oil edged up slightly on Friday even as the COVID-19 crisis in India worsened, and prices notched a second weekly gain against the backdrop of optimism over a global economic recovery.
NEW YORK/LONDON: Commodity prices jumped, the dollar slid to a two-month low and major global equity indexes scaled record peaks on Friday after weak U.S. jobs data for April tamped down fears that a booming economy would spark inflation and higher interest rates.
A feeling of deja vu took over the Malaysian market this week with the implementation of a third movement control order (MCO), which lent to the selling pressure on equities and a sharp retreat in the FBM KLCI.