The FBM KLCI tumbled more than 1% when markets closed on Thursday (May 12) while Bursa Malaysia’s Technology index was worst hit among the bourse’s 30 gauges as forecast-beating US inflation dented world markets which are seen taking cue from anticipation of US interest rate hikes to fight rising consumer prices.

KLCI tumbles, technology gauge worst hit as US inflation dents sentiment

Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a market value of about 11.72 trillion Norwegian kroner (about RM5.66 trillion) reported a sharp drop in its Malaysian government bond investments at 6.58 billion Norwegian kroner as at Dec 31, 2021 from 11.34 billion Norwegian kroner a year earlier, according to latest updates by the Norwegian central bank’s asset management unit.

Sharp drop in Norway oil fund's investment in Malaysian government bonds

Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a market value of about 11.72 trillion Norwegian kroner (about RM5.66 trillion), had invested in 146 Bursa Malaysia-listed companies as at Dec 31, 2021.

World’s largest sovereign wealth fund raises ownership in BCorp, Genting Malaysia, PetChem; cuts Bursa, Top Glove, Serba Dinamik

At a glance, Supermax Corp Bhd appears to be accelerating its share share buyback as the rubber glove maker’s major rivals Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd halted their stock repurchase at a time when global glove demand is seen normalising from a Covid-19 outbreak-driven rise as vaccine-driven progress generates optimism that the outbreak will be curbed.

Supermax’s Bursa Malaysia filings show that Supermax, which resumed its share buyback on February 28, 2022 following a hiatus since January 22, 2021, has been buying back more shares in March 2022 and April 2022.

Supermax accelerates share buyback as major glove rivals halt stock repurchase

Genting Bhd's 52.7%-owned subsidiary Genting Singapore Ltd said on Sunday (May 1, 2022) the latter's former president and chief operating officer Tan Hee Teck has been appointed as the chief executive officer of Genting Singapore with effect from Sunday.

Genting Singapore appoints Tan Hee Teck as CEO

Top Glove Corp Bhd, the world’s largest rubber glove manufacturer by production capacity, said the price of crude oil-based nitrile or synthetic rubber is expected to reverse its downtrend in line with higher crude oil prices.

Top Glove expects raw material prices to rebound

Bank Negara Malaysia (BNM) said on Thursday (April 28) that the Malaysian government's planned new issuance of a seven-year RM5 billion worth of Malaysian Government Securities (MGS) was overbidden after receiving 398 bids valued at RM10.98 billion from investors.

BNM: Malaysia's new RM5b MGS issue overbidden

Holders of tranche one of Eastern & Oriental Bhd's subsidiary Tanjung Pinang Development Sdn Bhd's RM1.5 billion Islamic bonds or sukuk have rejected a special resolution proposed by Tanjung Pinang Development in December 2021, according to the bond's facilitating agent RHB Investment Bank Bhd on Thursday (April 21, 2022).

E&O subsidiary Tanjung Pinang Development's special resolution rejected by Islamic bondholders under RM1.5b scheme

RAM Holdings Bhd's wholly-owned subsidiary RAM Sustainability Sdn Bhd said durian planter PLS Plantations Bhd is establishing a starting point for its environmental, social, and governance (ESG) journey by subjecting itself to the rigours of a sustainability rating and positioning that transparency is a priority even though it points to PLS’ high ESG risk profile.

Durian planter PLS establishes ESG journey starting point

The value of Malaysia’s imports surpassed the RM100 billion mark for the first time ever in March 2022 after growing 29.9% to RM104.9 billion from RM80.8 billion a year earlier as the nation’s export and total trade value climbed to record highs, according to the Department of Statistics Malaysia (DOSM) on Monday (April 18).

DOSM: Malaysia's import value surpassed RM100b for first time in March 2022

The People’s Bank of China (PBOC) ramped up its verbal pushback against the rally in long-term government bonds, warning of a reversal and hinting that a mismatch between market prices and the economic outlook will be corrected.

PBOC warns of rally in long-end government bonds

The US Federal Trade Commission (FTC) voted Tuesday to adopt a near-total ban on non-compete provisions that prohibit workers from switching jobs within an industry, a rule the Chamber of Commerce vowed to immediately challenge in court.

FTC issues worker non-compete ban as chamber lawsuit looms

In the third and fourth instalments of our four-part series on the economy, we are focusing on mission-based policy packages that Malaysia can embark on to realise our vision of Malaysia Madani. As a recap, the first article — “Taking a systems approach to fuel subsidies” (Issue 1515, March 18) —...

My Say: Mission Madani: Now is not the time to work in silos

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.

Sunway Putra Hotel KL commences refurbishment of its lobby

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.

PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

Shares of construction and engineering contractor Crest Builder Holdings Bhd climbed on Wednesday after bagging a RM486 million condominium project in Mont Kiara.

Crest Builder rises 6% after bagging RM486m condominium project

BMI, a Fitch Solutions company, holds a cautious but positive outlook for consumer spending in Malaysia over 2024, as the economic recovery feeds through to strong real consumer spending growth over the full year.

BMI holds a cautious but positive outlook for consumer spending in Malaysia over 2024

US defence contractor L3Harris Technologies Inc will cut 5% of its workforce this year as part of a cost saving measure, CEO Chris Kubasik said in an email to employees seen by Reuters on Tuesday.

US defence contractor L3Harris to cut 5% of workforce to save costs, email shows

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.

Wall Street closes higher as investors digest earnings, megacap outlook

Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

Tesla to accelerate launch of cheaper cars after sales miss

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Stocks gear up for Big Tech earnings; yen touches multi-year lows

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&amp;P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

Censof observing technical breakout, says RHB Retail Research 

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

Mergers and acquisitions (M&amp;A) activities fell to the lowest in a decade in 2023. According to the “Global M&amp;A Report” published by Bain &amp; Co, the total M&amp;A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

(April 24): JPMorgan Chase CEO Jamie Dimon said the U.S. economy was booming and consumer spending continued to be resilient.

The U.S. economic boom is "unbelievable," Dimon told the Economic Club of New York on Tuesday. "Even if we go into recession, the consumer's still in good shape,...

JPMorgan CEO Dimon says US economy is booming

RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

YBS International set to resume uptrend, says RHB Retail Research 

Digital payments company Block Inc, formerly known as Square, has finished the development of its Bitcoin mining chip as chief executive Jack Dorsey continues to advocate for a more accessible and decentralised system — an effort he’s championed since 2021.

Jack Dorsey’s block finishes development of Bitcoin mining chip

Shares of construction and engineering contractor Crest Builder Holdings Bhd climbed on Wednesday after bagging a RM486 million condominium project in Mont Kiara.

This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.

Xi’s armada is winning the battle for energy in South China Sea

Tesla&nbsp;said it will lay off 6,020 employees in Texas and California ahead of its quarterly results on Tuesday when CEO Elon Musk is expected to outline the electric-vehicle (EV) maker's strategy to combat slowing demand and falling margins.

Tesla to cut more than 6,000 jobs in Texas, California, notices show

International Business Machines Corp (IBM) is in advanced talks to acquire software company HashiCorp Inc, according to people with knowledge of the matter.

Chong Jin Hun

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