Markets

FBM KLCI falls for third day, weighed down by Tenaga, YTL stocks

KUALA LUMPUR: The FBM KLCI tumbled for the third consecutive day on Thursday, weighed down by losses in Tenaga Nasional, YTL Power and YTL Corp, amid weaker regional markets.

Energy

Oil prices climb as geopolitical tensions outweigh US inventories

SINGAPORE: Oil prices climbed on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine outweighed the impact of a bigger-than-expected increase in U.S. crude inventories.

Forex

Indonesian rupiah at three-month low; Asia stocks drop on Russia-Ukraine tensions

INDONESIA's currency was pinned at a more-than-three-month low on Thursday, as investors put further pressure after its central bank stayed pat on interest rates a day earlier and hinted at focusing on strengthening the rupiah leading to fewer chances of policy easing.

Economy

PM Anwar: Value of Malaysian business ventures in Vietnam exceeds US$13bil

KUALA LUMPUR: Malaysian business ventures in Vietnam have exceeded US$13 billion (US$1=RM4.47) in value, according to Prime Minister Datuk Seri Anwar Ibrahim.

Corporate News

Bank Rakyat issues inaugural RM500mil Asean sustainability SRI sukuk

KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), via Imtiaz Sukuk II Bhd, has issued its maiden RM500 million ASEAN Sustainability SRI (Sustainable and Responsible Investment) Sukuk.

Energy

China to beef up offshore wind power

CHINA is speeding up efforts to build a complete offshore wind power industry chain that will eventually benefit all players involved, said industry experts.

Corporate News

Dyson dials back Malaysia hairdryer operations, redeploys staff

DYSON Ltd. is dialing back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.

Corporate News

Starbucks considers selling stake in Chinese business, Bloomberg News reports

STARBUCKS is exploring options for its Chinese operations, including the possibility of selling a stake in the business to a local partner, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

Markets

Asian stocks stutter as Nvidia's forecast disappoints

SINGAPORE: Asian equities fell on Thursday after AI darling Nvidia disappointed investors with slower revenue growth expectations, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump's policies.

Commodities

Oil prices edge up on geopolitical tensions; higher-than-expected US inventories cap gains

SINGAPORE: Oil prices rose marginally on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine countered the impact from a bigger-than-expected increase in U.S. crude inventories.

Corporate News

KAB registers strong growth in sustainable energy segment

KUALA LUMPUR: Kinergy Advancement Bhd (KAB) recorded strong underlying growth in the sustainable energy segment (SES) in the third-quarter ended Sept 30, 2024, and is looking towards larger-scale projects across Asean.

Corporate News

Sime Darby Property aims for balanced sales contribution from industrial, residential segments

KUALA LUMPUR: Sime Darby Property Bhd (SDP) aims to achieve a more balanced sales contribution between its industrial and residential high-rise segments, said group managing director Datuk Seri Azmir Merican.

Corporate News

India's Adani Group sees US$22bil in value wiped off after US indictments

SHARES of Adani Group companies lost about $22 billion in market value in early trade on Thursday after U.S. prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Markets

PETRONAS Chemicals lifts KLCI amid broader market weakness

KUALA LUMPUR: The FBM KLCI retraced earlier losses on the back of buying interest in PETRONAS Chemicals, despite otherwise weak market sentiment.

Corporate News

Northern Solar inks underwriting agreement with M&A Securities

KUALA LUMPUR: Northern Solar Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia.

Cryptocurrency

Bitcoin breaks US$95,000 for first time on optimism over Trump crypto plans

SINGAPORE: Bitcoin's march toward $100,000 made further ground on Thursday as investors bet a friendlier U.S. regulatory approach to cryptocurrencies under President-elect Donald Trump will unleash a boom era for the asset class.

Forex

Ringgit opens lower against greenback on cautious sentiment

KUALA LUMPUR: The ringgit opened lower against the US dollar today, as investors remain cautious about the outlook for the Federal Reserve (Fed) rate cuts in the near term, said an analyst. 

Markets

FBM KLCI stays below 1,600 after muted Wall St performance

KUALA LUMPUR: Malaysia's stock benchmark hovered just under the 1,600 mark on Thursday after ceding the psychological support in the previous session.

Corporate News

Trading ideas: E&O, Johor Corp, Amway, PetChem, SD Guthrie, Hextar industries, Sime Property,Perdana, Sports Toto, Hap Seng, MYEG

KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.

Commodities

Oil prices settle down on strong US supply

Oil prices settled lower on Wednesday after US crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine.