<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 11): The FBM KLCI extended its losses in early trade today, dragged by losses at key index-linked banking stocks.</p></div>

<div class=newsTextDataWrapInner><p>At 9.05am, the FBM KLCI fell 4.70 points to 1,773.62.</p></div>

<div class=newsTextDataWrapInner><p>The top losers included Fraser &amp; Neave Holdings Bhd, Public Bank Bhd, Hong Leong Industries Bhd, Globetronics Technology Bhd, CIMB Group Holdings Bhd, Malayan Banking Bhd, Bursa Malaysia Bhd and Hartalalega Holdings Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Asian stocks moved gingerly on Monday as a weekend G7 summit fanned trade conflict fears after U.S. President Donald Trump backed out of a joint communique in a blow to the group's efforts to show a united front, according to Reuters.</p></div>

<div class=newsTextDataWrapInner><p>Trump's reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling, it said.</p></div>

<div class=newsTextDataWrapInner><p>JF Apex Securities Research in a market preview said US markets rose on Friday but gains were capped by fears of trade tensions ahead of the G-7 summit.</p></div>

<div class=newsTextDataWrapInner><p>It said that earlier, European stocks declined on concerns on world trade prior to the G-7 meeting in Canada.</p></div>

<div class=newsTextDataWrapInner><p>“On the local bourse, the FBM KLCI dropped 7.49 points to 1778.32 points.</p></div>

<div class=newsTextDataWrapInner><p>“Following the mixed performance in the US and Europe, the FBM KLCI is expected to hover below the resistance of 1800 points,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (June 11): The FBM KLCI extended its losses in early trade today, dragged by losses at key index-linked banking stocks.

At 9.05am, the FBM KLCI fell 4.70 points to 1,773.62.

The top losers included Fraser & Neave Holdings Bhd, Public Bank Bhd, Hong Leong Indus...

KLCI extends loss as banks drag

Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.

State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.

Indonesia tells state firms to refrain from buying dollars

Kimlun Corporation Bhd has bagged a construction contract worth RM150 million for a serviced apartment development project in Johor Bahru.

In a bourse filing on Thursday, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd received the award as the main contractor for the Aliva Mount Austin residential project from Astaka Development Sdn Bhd, a subsidiary of Singapore-listed Astaka Holdings Limited.

Kimlun bags RM150 mil contract for residential construction project in Johor

Parti Bersatu Sabah (PBS) and Parti Solidariti Tanah Airku (STAR) on Thursday signed a memorandum of understanding (MOU) aimed at, among other things, further strengthening the Gabungan Rakyat Sabah (GRS) coalition.

Leading parties ink MOU to strengthen Gabungan Rakyat Sabah ahead of polls

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and Special Financial Zone (SFZ) in Forest City can spur Johor’s economy to outpace that of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

Chinese technology giant Huawei started selling two models of its highly anticipated, high-end Pura 70 smartphone series on Thursday that many analysts expect to contain an advanced China-made chip like its Mate 60 handset.

The Pura series developed by the Shenzhen-headquartered company has advanced cameras and is known for its sleek design, while the Mate series emphasises performance and business features.

Huawei starts sales of new Pura 70 smartphone to crowds amid chip scrutiny

(April 18): The world of chocolate is facing such immense cocoa shortages that the wild trading lured an unlikely player — Pierre Andurand, a hedge-fund manager best known for his bets on oil.

Why the world of chocolate is in crisis

Datuk Seri Dr Zambry Abdul Kadir, the Kuala Kubu Baharu by-election machinery coordination co-chairman for the unity coalition, said its candidate would be deemed to represent the unity government rather than any particular party per se.

Kuala Kubu Baharu by-election: Candidate to represent unity govt rather than any particular party, says Zambry

The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength.

Labour market resilience, which is driving the economy, together with elevated inflation have led financial markets and some economists to expect that the Federal Reserve could delay cutting interest rates until September. A few economists doubt that the US central bank will lower borrowing costs this year.

US weekly jobless claims remain at low level

Healthcare digitalisation and financing reform remain the priorities of the Ministry of Health (MOH) aimed at strengthening and improving the healthcare system across the country.

Healthcare digitalisation, financing reform remain MOH's priorities, says Dzulkefly

Wall Street's main indexes eyed a higher open on Thursday as chip stocks rebounded, while investors awaited commentary from Federal Reserve officials to ascertain the outlook for interest-rate cuts.

Micron Technology rose 1.6% after a report that the memory-chip maker is set to get more than US$6 billion in grants from the US Commerce Department to help pay for domestic chip factory projects.

Wall St set for higher open as chip stocks bounce back after selloff

<p>The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).</p>


Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

<p>Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.</p>


Malaysia Airlines, AirAsia and Batik Air cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

<p>The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.</p>


Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

<p>Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.</p>


Google fires workers protesting US$1.2b Israeli contract

<p>The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.</p>


Singapore loses ‘world’s best airport’ crown to Qatar

<p>Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).</p>


Stop buying gold ETF as prices may correct — Philip Capital

<p>Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.</p>


Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

<p>Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.</p>


Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

<p>Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.</p>


Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

<p>Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.</p>


Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

<p>Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.</p>


Musk apologises for ‘incorrectly low’ Tesla severance packages

<p>KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.</p>


OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

<p>KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.</p>


Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

<p>Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).</p>

<p>This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.</p>


MBSB proposes 3.5 sen dividend for FY2023

<p>Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.</p>


Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

<p>When Iraq fired dozens of Scud missiles on Israel in early 1991, the US implored then prime minister Yitzhak Shamir not to respond. Shamir said he had to act. After days of late-night calls, high-level visits and long Cabinet meetings, Israel stood down and the US led a 42-nation alliance that defeated Iraq in what became the Gulf War.</p>


Israel caught between hitting Iran and heeding allies

<p>Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;</p>


Bursa mixed at midday break, key index up

<p>Bursa Malaysia Bhd’s wholly-owned Bursa Carbon Exchange (BCX) will hold its inaugural auction of renewable energy certificates (RECs) on June 25 to support Malaysia’s energy transition plans and corporates’ net-zero aspirations.</p>


Bursa to hold auction of maiden RE certificates on June 25

<p>The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.</p>


Malaysian Bar: Legal challenge against AG's decision to drop charges against Zahid is not academic

<p>Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.</p>
