Indonesia's currency was pinned at a more-than-three-month low on Thursday, as investors put further pressure after its central bank stayed pat on interest rates a day earlier and hinted at focusing on strengthening the rupiah leading to fewer chances of policy easing.

Indonesian rupiah at three-month low; Asian stocks drop on Russia-Ukraine tensions

Indonesian assets were steady on Wednesday after the country's central bank stayed pat on monetary policy as expected, while investors across emerging Asia exercised caution ahead of artificial intelligence major Nvidia's quarterly results.

Indonesian rupiah, stocks steady after cenbank holds rates; other Asian assets muted

Emerging Asian stock markets rallied on Tuesday, with Bangkok and Manila trading higher on expectations of rate cuts in the near future, while Singapore stocks hit a 17-year high.

EM stocks rally; Manila, Bangkok up on rate-cut bets

Equity markets in Taiwan were pinned at an over two-week low on Monday on expectations around a moderation in October exports from the country and potential risks surrounding a hike in tariffs by the incoming Republican administration in the US.

Taiwan stocks plunge as export growth seen moderating; EM currencies muted

Asian currencies found some support on Friday after a volatile week, with the Singapore dollar and Thai baht creeping higher, while Malaysia's ringgit held its ground despite a slowdown in growth in the third quarter.

Asian currencies find support after volatile week, ringgit steady

Asian currencies extended losses on Thursday, pressured by the greenback surging to a one-year high on momentum triggered by Donald Trump's election victory while emerging market stocks traded lower on an uncertain economic outlook.

Currencies, stocks tumble as dollar surges on Trump trade momentum 

The ringgit was the major loser on Wednesday among broadly muted emerging Asian peers, as Malaysia's third-quarter economic growth appeared set to have lost pace, reflecting a fall in mining output.

Ringgit at three-month low as GDP growth forecast to slow; forex tepid

Capital flows into emerging markets (EM) such as Malaysia are expected to remain volatile going into 2025, amid potentially renewed investor interest towards US assets following the recent presidential election won by Donald Trump, said UOB.

Foreign portfolio flows into EMs could be negatively impacted if Trump "follows through with the tariffs pledged during his campaign" such as 10% blanket ex-China import tariffs, the bank said in a note.

Expect volatile capital flows into Malaysia with Trump presidency, says UOB

Indonesia has prepared scenarios to anticipate the impact of potential policies from US president-elect Donald Trump, a finance ministry official said on Friday.

The head of the ministry's fiscal policy agency, Febrio Kacaribu, said the scenarios were designed not only to mitigate negative impacts, but also to find opportunities under a Trump administration.

He did not provide further details.

Indonesia preparing scenarios to anticipate Trump's policies

Emerging market currencies and stocks suffered broad losses on Wednesday after a US election win by Republican Donald Trump sent the dollar sharply higher and raised the spectre of fresh trade barriers.

Emerging market stocks, currencies take a hit as Trump wins US election

Philippine stocks rallied on Tuesday after the country's quickening inflation signalled a sustained cycle of policy easing, while most emerging Asia currencies were muted ahead of the US presidential election.

Manila stocks jump on rate cut hopes; currencies muted as US election looms

From Mexico City to Shanghai, traders whipsawed by a volatile year are preparing for a fresh political jolt: a US presidential election that’s threatening to upend global trade and potentially roil the economic outlook across the developing world.

Election angst grips emerging markets after traders cut risk

Most Asian currencies rose on Monday, as the dollar skidded at the start of a crucial week dominated by the US presidential election, the Federal Reserve policy meeting, and a slew of inflation reports from Asian economies.

Asian currencies, stocks rise ahead of US election, Fed meeting

Stocks in Singapore and South Korea led declines among Asian equities on Wednesday, with investors cautious ahead of the hotly contested US election next week, while currencies also trended lower with the dollar at a three-month peak.

Singapore, South Korea stocks at the helm of decline in Asian equities

Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.

Chinese AI pioneer Baidu posts biggest sales fall since 2022

Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.

Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

UBS has seen weak European growth hit companies it lends to, CFO Todd Tuckner said on Thursday, with the bank facing a 2024 credit loss expense of some 150 million Swiss francs (US$170 million or RM757.72 million) in its personal and corporate banking business.

UBS flags 'sluggish' Europe growth as it takes US$170m credit hit

(Nov 21): Emmanuel Macron’s ill-fated June gamble on snap elections has plunged French businesses into prolonged gloom, clouding the president’s seven-year effort to transform the country into a hub for investment.

Business confidence unexpectedly fell one point in November to 96 a...

French business’s election gloom casts long shadow over outlook

Sales of previously owned US homes rose in October by the most since earlier this year, as buyers took advantage of a dip in mortgage rates in the previous month.

Contract closings increased 3.4% from a month earlier — the most since February — to a 3.96 million annualised rate, according to data released on Thursday by the National Association of Realtors (NAR).

US existing-home sales rose in October after mortgage-rate drop

Europe will suffer in case of a fresh trade war with the US, and could face a recession coupled with high inflation, Cypriot central bank Governor Christodoulos Patsalides said on Thursday.

Trade war could leave Europe in recession with high inflation, ECB policymaker warns

(Nov 21): Target Corp. investors are losing patience with the retailer’s turnaround plan.

Target cut its full-year profit outlook Wednesday after a disappointing quarter, sending shares down more than 20%. Executives said shoppers are spending less on nonessential items like clothe...

Target’s slow rebound frustrates investors

Alibaba Group will integrate its domestic Chinese and international e-commerce platforms into a single business unit run by one leader for the first time, the company said in a stock exchange filing on Thursday.

Alibaba combines e-commerce arms to tackle growing competition

Ukraine said Russia fired what appeared to be an intercontinental ballistic missile (ICBM) at the city of Dnipro on Thursday, in what would be the first use in war of a weapon designed to deliver long-distance nuclear strikes.

Russia fires what appears to be intercontinental ballistic missile at Ukraine, says Kyiv 

Wall Street's main stock indexes were mixed in choppy trading on Thursday as Alphabet weighed on the market, while investors also focussed on AI-heavyweight Nvidia's upbeat quarterly results and forecast.

Wall Street mixed after Nvidia results; Alphabet weighs

Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.

Petronas Chemicals' outlook gloomy, analysts warn amid mounting joint venture losses

IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.

Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.

IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

Sime Darby Property Bhd (KL:SIMEPROP) is working urgently with authorities to help resolve the recurring flood incidents in Bandar Bukit Raja, said managing director Datuk Seri Azmir Merican.

Tackling floods in Bandar Bukit Raja a top priority, says Sime Darby Property

Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.

Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;

Mah Sing unveils M Aspira sales gallery in Taman Desa

China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.

Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.

Starbucks said to consider selling stake in Chinese business

Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.

Sime Darby Property seeks more assets generating recurring income

The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).

Bestinet's contract extension for foreign worker system could cost govt at least RM3.2b — PAC

Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

India's Adani Group sees US$30b in value wiped off after US indictments 

Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.

All in all, the listing would offer investors up to a 26% stake in the company.

Northern Solar Holdings signs underwriting agreement with M&A Securities

EIGHTEEN months after its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on...

Cover Story: Untangling the second 5G network puzzler 

KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;

Zetrix-related services to continue to boost MyEG’s earnings — analysts

China has found gold reserves worth 600 billion yuan (US$82.9 billion or RM370.9 billion) in central Hunan province, state outlet Xinhua news said on Thursday.

China finds US$83b worth of gold reserves in Hunan 

Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.

Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

THE award of the second 5G network to U Mobile on Nov 1 has kicked up a storm. Four bids were submitted, from CelcomDigi, Maxis, U Mobile and TM. Maxis, for instance, once widely seen as the frontrunner, is seeking to talk to the Malaysian Communications and Multimedia Commission (MCMC) on what e...

Cover Story: Will the second 5G network benefit Malaysians with lower prices and better service?

KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.

Analysts raise forecasts after Hap Seng Plantations’ quarterly results beat expectations

Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).

MSM Malaysia continues to bleed for the second consecutive quarter

Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.

The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).&nbsp; DFIL itself is 75.53% owned by Atlan.

Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

In his first global meetings since Donald Trump was reelected to lead the US, Chinese President Xi Jinping went on a diplomatic offensive, hedging against expected new tariffs and preparing to exploit potential future rifts between Washington and its allies.

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