<div class=newsTextDataWrapInner>FLASH:&nbsp;Malaysia's February inflation at 4.5% on year — Statistics Department</div>
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FLASH: Malaysia's February inflation at 4.5% on year — Statistics Department
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Malaysia's February inflation at 4.5% on year — Statistics Department

China’s economy likely grew at its weakest pace in six quarters, prompting Beijing to roll out a swath of stimulus measures in late September to draw a line under the slowdown. 

Data on Friday is set to show the economy expanded 4.5% in the third quarter from a year ago, according to economists surveyed by Bloomberg. That would be the least since March 2023, though it should keep expansion for the first nine months at 4.9%, in line with Beijing’s annual goal of around 5%.

China’s economy likely grew at weakest pace in six quarters

Bitcoin bulls are setting their sights again on the record highs reached in March with optimism building around riskier assets and the looming US election. 

“After six months of price consolidation this year, the stage is set for a perfect storm in favour of bitcoin and other crypto assets,” wrote Blockforce Capital’s Brett Munster. He cited a rise in global liquidity, including from China, which has been offering a raft of stimulus measures in recent days in an attempt to boost its economy.

Bitcoin approaches US$70,000 with speculators eyeing record highs

The winding-up session of the debate and voting on the Constitution (Amendment) Bill 2024 concerning citizenship will be the highlight of Thursday's Dewan Rakyat session.

Home Minister Datuk Seri Saifuddin Nasution Ismail is expected to wind up the debate on the Bill.

Winding-up, voting on bill regarding citizenship focus in Parliament for the day

Energy firms TotalEnergies, Qatar Energy, Petroliam Nasional Bhd (Petronas), Cybele Energy, Delcorpand International Group Investment have reached agreements with Guyana over terms of production sharing deals to explore five oil and gas offshore blocks, the country's Energy Ministry said on Wednesday.

Petronas among companies reaching agreements to explore Guyana's offshore O&G blocks

MORNING CALL: 17/10/24

The Toyota Tour continues to solidify its role as a cornerstone in Malaysian golf, not only for professional athletes but also for the future stars of the sport. This commitment is exemplified by the Toyota Tour Elite Junior Programme 2024, an initiative that is rapidly becoming a vital pipeline for the country’s emerging golf talent.

Toyota Tour Elite Junior Programme 2024: A Midway Milestone in Nurturing Future Golf Champions

Equities in Asia braced for early gains after Wall Street closed higher, helped along by a rotation out of mega-cap tech and into economically sensitive shares including smaller companies.

Shares in Australia and equity futures for Japan and Hong Kong all edged higher. An index of US-listed Chinese companies rose almost 1% on Wednesday in a sign the country’s equities may bounce after two daily declines as investors digest support measures for the country’s second-largest economy.

Asian stocks set to advance amid US small-cap rally

Traders exited Nasdaq-100 futures at the fastest pace this year on Tuesday as shares of chipmakers slid following ASML Holding NV’s surprise announcement lowering its 2025 guidance.

Open interest — or the size of outstanding positions — in the contracts sank by US$5.7 billion (RM24.5 billion) notional value, according to data compiled by Bloomberg, the biggest drop in 2024 and dwarfing the average daily change.

Nasdaq 100 futures holdings shrink by US$6b after ASML chip selloff

Stock traders kept driving a rotation out of the megacaps that have powered the bull market and into other corners of Wall Street.

Economically sensitive shares outperformed, with the Russell 2000 of smaller firms hitting the highest in almost three years. Most big techs fell, though Nvidia Corp jumped 3.1%. An equal-weighted version of the S&P 500 — where the likes of Apple Inc carry the same heft as Dollar Tree Inc — beat the US benchmark. That gauge is less impacted by the largest companies — providing a glimpse of hope the rally will broaden out.

Stock rotation lifts small caps to three-year high

ASML Holding NV chief executive officer Christophe Fouquet said he expects a slow chip market recovery to extend “well into 2025”, following disappointing third-quarter earnings that sparked a broad sell-off across the semiconductor industry.

ASML CEO sees slow chip recovery extending ‘well into 2025’

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

AAX, Capital A, Crescendo, Infoline Tec, Pappajack, Fajarbaru Builder, WCT, Econpile, LFE Corp, Gamuda, Aizo, Radiant Globaltech

The federal government's debt stood at RM1.227 trillion as of the end of June 2024, according to the Ministry of Finance (MOF).

Federal govt debt stands at RM1.23 tril as of end-June 2024 — MOF

Infoline Tec Group Bhd (KL:INFOTEC) and Pappajack Bhd (KL:PPJACK) have received approval from the Securities Commission Malaysia (SC) to transfer their listings from the ACE Market to the Main Market of Bursa Malaysia.

Infoline Tec, Pappajack secure SC nod for Main Market transfer

ASML Holding NV chief executive officer Christophe Fouquet said he expects a slow chip market recovery to extend “well into 2025”, following disappointing third-quarter earnings that sparked a broad sell-off across the semiconductor industry.

Equities in Asia braced for early gains after Wall Street closed higher, helped along by a rotation out of mega-cap tech and into economically sensitive shares including smaller companies.

Shares in Australia and equity futures for Japan and Hong Kong all edged higher. An index of US-listed Chinese companies rose almost 1% on Wednesday in a sign the country’s equities may bounce after two daily declines as investors digest support measures for the country’s second-largest economy.

The Dow regained some lost ground on Wednesday although the S&amp;P 500 and the Nasdaq stumbled, dragged lower by declines in megacap technology stocks, while the broader market gained from upbeat quarterly earnings from banks, notably Morgan Stanley.

Wall Street mixed as megacap tech stocks fall; banks gain

Vietnam has estimated the cost of building a new railway linking it with China's Yunnan province at 179 trillion dong (US$7.2 billion or RM30.9 billion), state media reported on Wednesday.

Vietnam estimates cost of new railway link with China at US$7.2b

Stock traders kept driving a rotation out of the megacaps that have powered the bull market and into other corners of Wall Street.

Economically sensitive shares outperformed, with the Russell 2000 of smaller firms hitting the highest in almost three years. Most big techs fell, though Nvidia Corp&nbsp;jumped 3.1%. An equal-weighted version of the S&amp;P 500 — where the likes of Apple Inc&nbsp;carry the same heft as Dollar Tree Inc&nbsp;— beat the US benchmark. That gauge is less impacted by the largest companies — providing a glimpse of hope the rally will broaden out.

Delivery delays from planemakers Airbus and Boeing are "massively frustrating" and are not yet getting better, the head of the global airline body IATA said on Wednesday.

Airbus, Boeing aircraft delivery delays not improving, IATA head says

Traders exited Nasdaq-100 futures at the fastest pace this year on Tuesday as shares of chipmakers slid following ASML Holding NV’s surprise announcement lowering its 2025 guidance.

Open interest — or the size of outstanding positions — in the contracts sank by US$5.7 billion (RM24.5&nbsp;billion) notional value, according to data compiled by Bloomberg, the biggest drop in 2024 and dwarfing the average daily change.&nbsp;

US import prices fell by the most in nine months in September amid a sharp decrease in the cost of energy products, pointing to a benign inflation outlook that keeps the Federal Reserve (Fed) on course to continue cutting interest rates.

Cheaper energy products depress US import prices in September

Energy firms TotalEnergies, Qatar Energy,&nbsp;Petroliam Nasional Bhd (Petronas),&nbsp;Cybele Energy, Delcorpand International Group Investment&nbsp;have reached agreements with Guyana&nbsp;over&nbsp;terms of production sharing&nbsp;deals&nbsp;to&nbsp;explore five oil and gas offshore blocks, the country's Energy Ministry said on Wednesday.

The winding-up session of the debate and voting on the Constitution (Amendment) Bill 2024 concerning citizenship will be the highlight&nbsp;of Thursday's Dewan Rakyat session.

Home Minister Datuk Seri Saifuddin Nasution Ismail is expected to wind up the debate on the Bill.

Bitcoin bulls are setting their sights again on the record highs reached in March with optimism building around riskier assets and the looming US election.&nbsp;

“After six months of price consolidation this year, the stage is set for a perfect storm in favour of bitcoin and other crypto assets,” wrote Blockforce Capital’s Brett Munster. He cited a rise in global liquidity, including from China, which has been offering a raft of stimulus measures in recent days in an attempt to boost its economy.

The Toyota Tour continues to solidify its role as a cornerstone in Malaysian golf, not only for professional athletes but also for the future stars of the sport. This commitment is exemplified by the Toyota Tour Elite Junior Programme 2024, an initiative that is rapidly becoming a vital pipeline for the country’s emerging golf talent.