China reiterated the need to prevent one-sided moves in the yuan, as a resurgent dollar and poor risk sentiment pressure currencies across Asia.

The nation will “resolutely” put the yuan back on track when traders place lopsided bets and it’ll also attempt to avoid excessive volatility, the People’s Bank of China (PBOC) said in a report on its social media account on Thursday.

China restates need for steady yuan amid fragile confidence

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

Mystery stock crash in China cement maker linked to margin call

The US must take "decisive" action to protect electric vehicles (EVs) from subsidized Chinese competition, US Trade Representative Katherine Tai said on Wednesday as she completes a review of Trump-era China tariffs and considers President Joe Biden's call for higher tariffs on imports of Chinese steel.

Tai told a US Senate Finance Committee hearing that the US needed to create a level playing field for US workers and that Biden's call for higher "Section 301" tariffs on Chinese steel imports means that "we are in very, very advanced stages of our interagency work, and I expect that we will come to conclusion very soon."

US trade chief calls for 'decisive' action to shield EV sector from China

The International Monetary Fund's executive board has backed a key change to give it more freedom to support countries in crisis even if debt renegotiations with big creditor governments like China are still ongoing.

The proposal is aimed at reforming what the IMF calls its Lending Into Official Arrears (LIOA) policy, a framework that determines if and when it can lend to a country that owes money to another IMF-member nation.

IMF moves to blunt Chinese debt deal delays with lending policy change

Executives at Dutch computer chip equipment maker ASML on Wednesday said they expect demand from Chinese customers to remain strong, representing "in the ballpark" of 20% of the company's order backlog.

ASML executives say they expect continuing strong sales in China

Taiwan's homegrown submarine programme will remain on track, the defence minister said on Wednesday, after the head of the programme resigned due to what he said were unfair attacks against him and the military.

Taiwan submarine project chief quits, ministry says plans to proceed

Wu Huazhan's Chinese television factory used to impose minimum orders to manage production efficiently. Times are now so bleak, it will take any order.

At Chinese trade fair, exporters despair their goods are 'as cheap as cabbage'

China is urging banks and financial institutions to increase credit support to the advanced manufacturing sector, as part of efforts to become a powerhouse in goods from electric vehicles and wind turbines to aerospace components and semiconductors.

China urges financial institutions to boost credit for advanced manufacturing

China’s airlines flew a record number of people in the first quarter (1Q), amid government efforts to boost the nation’s tourism sector and strong demand for holidays at home.

China air travel hits fresh record in 1Q on Lunar New Year boost

China's central city of Zhengzhou has asked residents to sell their second-hand homes to a local state-owned company and buy new ones instead, in a bid to reduce new-home inventories and boost the local property sector.

Chinese city Zhengzhou tells state-owned company to buy second-hand homes to reduce new housing inventories

China’s rapidly expanding petrochemicals industry is making life increasingly difficult for producers in Asia’s next-biggest exporter of the building blocks for making plastics.
 
Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut.

China’s growing plastics dominance is squeezing out Asian rivals

China's economy grew faster-than-expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt.

China's 1Q GDP growth solid but March data shows feeble demand

New home prices in China fell at their fastest pace in more than eight years in March as the debt woes of major property developers continued to drag on demand and the economic outlook.

China's new home prices decline at fastest pace since 2015

China's Baidu said on Tuesday its artificial intelligence (AI) chatbot “Ernie Bot” has garnered more than 200 million users as it seeks to remain China’s most popular ChatGPT-like chatbot amid increasingly fierce competition.

Baidu's AI chatbot 'Ernie Bot' attracts more than 200 million users

Hong Kong Exchanges and Clearing (HKEX) will develop an in-house derivatives platform that will offer 24-hour trading and new products as it aims to boost its standing as a financial hub, the bourse operator said on Thursday.

Bourse operator HKEX to develop new derivatives platform to bolster investments

WHILE Malaysia-listed companies were seen to be improving their balance sheet position in 2023, the number of perpetual bond issuances rose during the year, data compiled by The Edge show.

At least 28 public-listed companies have outstanding perpetual bonds — also known as perpetuals or...

Cover Story: Perpetual bonds still garnering interest     

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.

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

KUALA LUMPUR (April 18): Malaysian civil society group Bersih, or the Coalition for Clean and Fair Elections, has criticised the deputy public prosecutor’s (DPP) office for not objecting to former prime minister Datuk Seri Najib Razak’s application to bar the media from covering his judicial review leave application, where he sought to be placed under house arrest for the duration of his jail sentence.

Bersih criticises DPP for not objecting to media ban in Najib’s house arrest bid

Huawei Technologies Co released its latest series of smartphones on Thursday, sustaining its momentum after the breakthrough Mate 60 device helped erode Apple Inc.’s dominance in China’s high-end segment.

Huawei unveils new phone lineup to ramp up pressure on Apple

THE last few years have seen multiple challenges that tested the financial resilience of companies, from Covid-19 to the post-pandemic commodity and inflation shocks, which in turn spurred interest rate hikes that indirectly skewed global currency exchange trends.

The surprising good ne...

Cover Story: More PLCs have stronger balance sheets than before pandemic

Taiwanese chipmaker TSMC posted a 9% rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.

TSMC's first quarter profit rises 9%, beats forecasts

The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.

PJD Link concessionaire says project remains viable, studying realignment

Abu Dhabi's largest Islamic bank is in talks to buy a minority stake valued at around US$1.1 billion (RM5.3 billion) in Indonesia's top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into a fast-growing market in Southeast Asia.

Abu Dhabi Islamic Bank in talks to buy US$1.1b stake in Indonesian lender — Reuters

WeWork Inc founder Adam Neumann has made a fresh push to buy back the firm even as it seeks hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, FT reported on Thursday.

Adam Neumann moves to buy back WeWork as it seeks funds to exit bankruptcy — FT 

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

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).

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

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.

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

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.

Google fires workers protesting US$1.2b Israeli contract

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.

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

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.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

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.

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

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).

Stop buying gold ETF as prices may correct — Philip Capital

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.

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

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Asian stocks mixed as soaring dollar pauses

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.

S&P 500 suffers its longest slide since January

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;

Bursa mixed at midday break, key index up

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.

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

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

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.

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

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