In today’s edition of Evening 5, the fallout that Serba Dinamik continues as almost half of its board resigns. Meanwhile, the wheels have been set in motion for a hybrid Parliament sitting to be held in the third quarter.</div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: Serba Dinamik’s directors resign, share price tanks

US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.

Biden calls ally Japan ‘xenophobic’ along with China, Russia

LONDON (May 2): Shell on Thursday reported first-quarter adjusted earnings of US$7.7 billion, sharply beating expectations, on the back of strong oil trading and higher refining margins.

The oil major announced it will repurchase a further US$3.5 billion of its shares over the next thre...

Shell beats expectations with US$7.7b first-quarter profit

theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.

GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

Matrix Concepts has unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban.

NEWS: Matrix Concepts unveils phase 2 of Resort Villa

Asian stocks and US futures rose on Thursday after the Federal Reserve downplayed risks of an interest rate hike, while the yen was bumpy after another burst of suspected intervention from Japan.

Asian stocks rise as Fed tamps down hike fears; yen leaps

South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.

Nvidia supplier SK Hynix says HBM chips almost sold out for 2025

Amazon.com Inc chief executive officer Andy Jassy made comments to the media in 2022 that violated federal labour law, a US National Labor Relations Board judge ruled Wednesday.

Amazon CEO’s comments violated labour law, labour board judge rules

The Monetary Authority of Singapore has appointed Transport Minister Chee Hong Tat as a board member from June 1, broadening his experience in the finance industry.

Singapore central bank names transport minister Chee to board

Terraform Labs Pte and co-founder Do Kwon, after being found liable for fraud by a New York jury last month, told a judge they shouldn’t have to pay the US$5.3 billion (RM25.3 billion) fine requested by US regulators because most of the firm’s stablecoins were sold overseas.

Terraform Labs calls US$5.3b SEC fraud-fine bid unjustified

The Hong Kong Monetary Authority (HKMA) kept its base rate charged through the overnight discount window unchanged at 5.75% on Thursday, tracking a decision by the US Federal Reserve to keep rates steady.

Hong Kong central bank keeps key rate unchanged, tracks Fed decision

US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.

Microsoft to invest US$2.2 bil in Malaysia over next four years on cloud, AI

Apex Securities Bhd has recommended investors to “subscribe” to ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value of 42 sen by pegging financial year 2025 (FY2025) forecast core earnings per share of 3.2 sen to price-earnings (PE) of 13 times (75% potential upside from IPO price).

Apex Securities advises investors to subscribe to ACE Market-bound Farm Price with fair value of 42 sen

Shares of Bursa Malaysia Bhd climbed to its highest in more than three years after the stock exchange operator reported better-than-expected results that prompted at least two analyst upgrades.

Bursa Malaysia climbs to over three-year high after above-view 1Q

Elon Musk’s latest cost-cutting victims: Summer interns.

Tesla Inc is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in.

Tesla interns say offers are getting revoked weeks before their start date

Luno, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia, expands its coin offerings with the launch of Cosmos (ATOM) and Polkadot (DOT).

Luno launches two new digital assets

Shares of Duopharma Biotech Bhd surged more than 9% during early trade on Thursday following news of the pharmaceutical company securing supply contracts worth RM578.09 million in total.

Duopharma Biotech surges over 9% after RM578m contract news

US stocks closed mixed on Wednesday after the Federal Reserve (Fed) left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured.

S&P 500, Nasdaq end lower after Fed rate decision, Powell press conference

Feytech Holdings Bhd's initial public offer (IPO) on Main Market of Bursa Malaysia is offering&nbsp;252.94 million shares at 80 sen apiece.&nbsp;

Feytech Holdings aims to raise over RM201 mil from Main Market IPO at 80 sen apiece 

Latest data signalled further downbeat trends across the Malaysian manufacturing sector at the start of the second quarter of 2024.

In a statement on Thursday, S&amp;P Global Market Intelligence said that while demand remained generally subdued, there were slight indications that firms were on an upward trajectory, as firms scaled back production at a softer rate amid a slower reduction in new order inflows.

Overall manufacturing conditions in Malaysia ease to lesser extent, says S&P Global

Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;

Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

Asian stocks and US futures rose on Thursday after the Federal Reserve downplayed risks of an interest rate hike, while the yen was bumpy after another burst of suspected intervention from Japan.

Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Kumpulan Ikram Sdn Bhd that owns the Infrastructure University Kuala Lumpur.

Protasco gets offer from HK firm to buy its university unit

Governments rarely correct deteriorating public finances until they meet some form of debt market disturbance, but the retreat of central banks from sovereign bond markets may eventually set the scene for a showdown.

Bond markets face struggle to surf 'Treasury tsunami'

DBS Group Holdings Ltd’s chief executive officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.

DBS CEO Gupta sees another record year after posting better than expected 1Q earnings 

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue.

Westports' 1Q net profit rises 11% as container revenue climbs

The Federal Communications Commission (FCC) is moving to prevent Huawei, ZTE and other foreign companies deemed to pose US national security concerns from certifying wireless equipment, officials told Reuters on Wednesday.

US moves to bar Huawei, other Chinese telecoms from certifying wireless equipment

The US Federal Reserve (Fed) held interest rates steady on Wednesday and signalled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.

Fed leaves rates unchanged, flags 'lack of further progress' on inflation

ExecuJet MRO Services Malaysia, a subsidiary of luxury business aircraft maker Dassault Aviation, inaugurated its new maintenance, repair and overhaul (MRO) facility at Subang Airport on Thursday.

Dassault Aviation's MRO unit ExecuJet expands in Malaysia with new facility at Subang Airport

Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary US customers and a slower-than-expected economic recovery in China.

Starbucks shares hit two-year low as China, US demand clouds outlook

Alphabet Inc paid Apple Inc US$20 billion (RM95.45 billion) in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.