South Korea's impeached prime minister told parliament on Thursday that "everyone" in a hastily arranged meeting of ministers expressed concerns about President Yoon Suk Yeol's martial law plan before he announced it on Dec 3.

South Korea's impeached prime minister says cabinet expressed concerns over martial law plan

The director-general of the World Trade Organization (WTO) said new tariffs announced by the US along with those introduced at the start of the year could lead to a contraction of around 1% in global merchandise trade volumes in 2025.

WTO says tariffs could bring contraction of 1% in global merchandise trade volumes

Suppliers to Apple Inc are following the iPhone maker lower on Thursday, as the Trump administration’s tariff announcement spurs widespread selling.

Apple is seen as especially vulnerable to the tariffs given it counts China as a major manufacturing hub, and Trump’s country-specific levies included a sharp hike on China.

Apple suppliers tumble as tariffs hit iPhone supply chain

Fitch Ratings downgraded China’s sovereign rating on concerns over weakening finances and rising public debt, just one day after the US imposed higher tariffs on the country. 

The cut takes China’s long-term foreign currency default rating to "A" from "A+" with a stable outlook, Fitch said in a statement on Thursday. China’s Finance Ministry responded with a strong rebuke, describing the decision as biased and not reflective of reality.

Fitch cuts China rating on weakening finances, debt concerns

Wall Street economists said the US risks a recession this year and inflation could return to pandemic levels following the Trump administration’s announcement of major tariffs on global trading partners.

Economists slash US growth, boost inflation forecasts on tariffs

Heavyweight technology stocks led a broad selloff on Wall Street on Thursday after President Donald Trump's sweeping tariffs on major trade partners ignited fears of an all-out trade war and raised the risk of a global economic recession.

Wall Street plunges as Trump tariffs trigger recession fears

World cocoa and coffee prices fell on Wednesday as investors fretted that President Donald Trump's move to slap punishing tariffs on US imports would damage chocolate and coffee demand in the world's top consumer of the products.

Coffee and cocoa slide as Trump tariffs spark demand worries

The US stock market is down almost 10% since President Donald Trump’s inauguration, marking the worst 10-week start under a new president since George W Bush in 2001 during the height of the dot-com selloff.

Trump’s second term brings worst stock market start since 2001

French President Emmanuel Macron urged companies to pause investments in the US after President Donald Trump announced tariffs on the European Union (EU) and other regions.

France’s Macron urges EU companies to pause US investments

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

Mayu Global, Tuju Setia, Iskandar Waterfront City, TNB, HHRG

The revival in small caps expected from Donald Trump’s America First agenda instead turned into a rout for shares in companies whose fortunes are most closely tied to the US economy.

The Russell 2000 Index plunged as much as 6.6% on Thursday and is now down more than 20% from its all-time high reached in late 2021.

Russell hits bear market with small caps buffeted by tariff wave

Malaysia’s semiconductor companies are not out of the woods even as the industry is exempted from the latest broad-ranging tariffs imposed by the US.

Malaysia's semicon firms brace for future US action after dodging tariffs

Microsoft Corp has pulled back on data centre projects around the world, suggesting the company is taking a harder look at its plans to build the server farms powering artificial intelligence and the cloud.

Microsoft pulls back on data centres from Chicago to Jakarta

The Federation of Malaysian Manufacturers (FMM) has issued a stark warning regarding the US' decision to impose a 24% reciprocal tariff on Malaysian exports from April 9, saying it could lead to significant reduction in export volumes, job losses and supply chain disruptions affecting both Malaysian producers and US-linked multinational operations here.

Malaysian manufacturers sound alarm over US tariff, call for strategic govt action

Steel products maker Mayu Global Group Bhd (KL:MAYU) said its executive director Tan Kim Hee has been detained by the police.

He was held by Bukit Aman police on April 2 to assist in an ongoing investigation, said the group, formerly known as Atta Global Group Bhd, in a bourse filing.

Mayu Global executive director Tan Kim Hee detained by police

The Malaysian Rubber Glove Manufacturers Association (Margma) has called on the government to consider "emergency support measures" to help the industry weather the impact of the sweeping new duties imposed by the US.

Rubber glove makers urge govt to consider emergency support measures amid US tariffs

Rebuilding US infrastructure: Our picks of steel stocks. Read more in the Apr 7 edition of The Edge Malaysia Weekly. Pick up from the newsstands or subscribe at https://theedgemalaysia.com/subscription

Rebuilding US infrastructure: Our picks of steel stocks

US President Donald Trump signed an executive order on Wednesday that closes a trade loophole known as 'de minimis' that has allowed low-value packages from China and Hong Kong to enter the United States free of duties.

Trump signs order ending 'de minimis' duty-free treatment for low-value parcels from China

Heavyweight technology stocks led a broad selloff on Wall Street on Thursday after President Donald Trump's sweeping tariffs on major trade partners ignited fears of an all-out trade war and raised the risk of a global economic recession.

Loss-making LYC Healthcare Bhd’s (KL:LYC) chief financial officer (CFO) Chong Sook Peng has resigned, with effect from May 30, 2025.

LYC Healthcare CFO resigns a little over a year into service

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI down 0.5% to 1,518.91 on April 3, 2025

Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term.

Vietnam, slapped with 46% tariffs, said it would set up a task force and Thailand's prime minister said she would pursue negotiations to try to reduce the 37% rate her country faces - far greater than the 11% it had expected.

Southeast Asian nations, among hardest-hit by Trump tariffs, seek talks

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

Eight Opec+ countries unexpectedly agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day (bpd) in May, a decision that prompted oil prices to extend earlier sharp losses.

Opec+ unexpectedly speeds up oil output hikes, oil drops

Newly-listed HI Mobility Bhd (KL:HI) has secured a RM134.94 million contract to operate an intracity bus service in Johor Bahru, under the government’s Stage Bus Service Transformation programme.

Newly-listed HI Mobility secures RM134 mil bus services contract from APAD

Builder Tuju Setia Bhd (KL:TJSETIA) has bagged a contract worth RM264.07 million for the construction of serviced apartments in Cheras, Selangor.

Tuju Setia bags RM264 mil job from MKH to build serviced apartments

(April 3):&nbsp;Coffee in the US risks getting even more expensive as President Donald Trump’s sweeping tariff measures hit Vietnam, one of its biggest suppliers, with hefty levies.

US coffee drinkers face pricier cup as tariffs hit key supplier Vietnam

The safety of a liveable home is a higher priority than legal action for residents in the aftermath (two days) of the gas pipeline fire on April 1, said deputy chairman of the Putra Harmoni Residents Association, Francis Koh.

Gas pipeline fire: 'Home safety first, too early for legal action', says residents' association

Loss-making Iskandar Waterfront City Bhd (KL:IWCITY) said it has been given a six-month extension until Sept 23 to submit its regularisation plan.

Iskandar Waterfront City gets six-month extension to submit regularisation plan

Businesses around the globe on Thursday faced up to a future of higher prices and reduced access to the world's largest market after US President Donald Trump confirmed their worst fears by&nbsp;instituting broad tariffs worldwide.

Trump's tariffs to push up costs and curb exports for companies

Sarawak will officially designate gas corridors under the Sarawak Gas Roadmap (SGR) as a precautionary measure to prevent incidents like the recent gas pipeline explosion in Jalan Putra Harmoni, Putra Heights, Subang Jaya.

Ju-min Park & Jack Kim