The tech-heavy Nasdaq slid more than 2% on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address artificial intelligence (AI)-related concerns, with a recovery in oil prices further adding to market unease.

Wall Street sinks as Nasdaq falls over 2% on AI cost worries

Mortgage rates fell for the first time in nine weeks, providing little comfort to sellers facing the slowest US housing market in at least 25 years.

US mortgage rates decline for first time in nine weeks, to 7.32%

The Ministry of Finance (MOF) said Bank Simpanan Nasional, a statutory body under its purview, has paid RM13.52 million in claims to victims of a fake investment scheme run by a former employee at its Kuching branch.

BSN has refunded 92.9% of claims in Kuching investment scam — MOF

US Treasuries surged — sending the US 10-year yield back below 5% — as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence (AI).

US 10-year yield falls below 5% as investors flock to safe havens

Malaysia must strengthen gas supply security, invest in infrastructure and prepare for future demand to maintain a reliable and competitive energy system amid geopolitical uncertainty.

MyGAS 2026: Securing Malaysia’s gas future amid global uncertainty 

The Ministry of Finance (MOF) will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption, with the funds also aimed at strengthening Lembaga Tabung Haji’s (TH) cash flow.

MOF to inject RM1 bil into Urusharta Jamaah for sukuk redemption in 2027

The US Treasury Department on Thursday proposed new regulations to bar large institutional investors from buying up single-family homes, the latest step in the process to implement the most controversial section of the sweeping bipartisan housing law passed this summer.

Treasury unveils rules banning large investors from buying homes

Taiwan’s stock exchange will shut on Friday as Typhoon Champi approaches the island, bringing heavy rainfall and strong winds and prompting authorities to shut offices and schools in capital city Taipei.

Taiwan’s US$5 tril stock market to close on Friday as Typhoon Champi nears

Student safety, TVET development and social protection for industrial trainees were among the key issues raised on the final day of the policy-stage debate on the Supply (Budget) Bill 2027 on Thursday.

School safety, TVET direction among key issues in final day of Budget 2027 debate

The Women, Family and Community Development Ministry (KPWKM) will reveal the findings of a study on bullying conducted through the National Population and Family Development Board (LPPKN) as early as this week or next week.

Bullying study findings to be revealed soon — Nancy Shukri 

A financially-distressed Chinese property developer will sell its massive hotel complex in Hong Kong to Malaysia’s ParkCity Group for some RM1.4 billion.

Massive Hong Kong hotel complex to be sold to Malaysian developer for RM1.4 bil

The appellate court has unanimously ruled that the Inland Revenue Board (IRB) has to return tax collected on compensation from properties or land that are forcefully acquired by the authorities.

IRB must return tax collected on compensation from forcefully acquired property, says appellate court

Zetrix AI Bhd (KL:ZETRIX) said no payment default has occurred under its RM2 billion sukuk, as the trustee is scheduled to meet sukuk holders on Friday (Oct 23) to discuss a proposed resolution to a breach involving managing director Wong Thean Soon’s shareholding.

Zetrix AI sukuk holders to meet on Oct 23 to discuss covenant breach, no payment default yet 

KUALA LUMPUR (Oct 22): A former deputy religious affairs minister has urged the government to look into the financial health of Urusharta Jamaah Sdn Bhd (UJSB), the company set up by the government in 2018 to take over Tabung Haji's troubled assets.&nbsp;

Datuk Ahmad Marzuk Shaary (PN-P...

Former deputy religious affair minister wants scrutiny of UJSB's financial health, cite NexG disposal 

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

Zetrix AI, RHB Bank, TSH Resources, RedPlanet, Aizo Group, BMS, Harbour-Link, Jati Tinggi, TNB, Kerjaya Prospek, Exsim Hospitality, Pavilion REIT and Foodie Media

TSH Resources Bhd (KL:TSH) has responded to queries from the Singapore Stock Exchange (SGX) over recent forest and peatland fires in Indonesia, denying that its plantation operations contributed to the transboundary haze.

TSH Resources responds to SGX queries over Indonesian fires, haze, denies operational links

Temasek Singapore president Png Chin Yee is set to join the board of CapitaLand Investment Ltd, while chairman Miguel Ko is retiring from the real estate asset manager.

Singapore’s CapitaLand adds Temasek executive to board

A consortium led by Jati Tinggi Group Bhd (KL:JTGROUP) has secured a RM568.2 million contract from Tenaga Nasional Bhd (KL:TENAGA) for a transmission main intake substation in Paka, Terengganu.

Jati Tinggi-led consortium bags RM568.2 mil TNB contract in Terengganu 

Norway's US$2.3 trillion (RM9.4 trillion) sovereign wealth fund said it had been "slightly cautious" on the equity markets and some of the larger Big Tech companies after it reported a loss of 278 billion crowns for the third quarter on Thursday.

Norway wealth fund slightly cautious on equities, tech companies

Meridian Bhd (KL:MERIDIAN) said trading in its shares will be suspended from Oct 30 after Bursa Malaysia Securities rejected the company's fifth application for more time to submit a regularisation plan.

The financially distressed property developer added that it faces delisting on Nov 3 unless it appeals by Oct 29.

Meridian to be suspended on Oct 30, faces delisting after latest bid to delay regularisation plan rejected

Aizo Group Bhd (KL:AIZO) said its RM36.79 million sewage system upgrading subcontract in Terengganu will not proceed after the project owner cancelled the main contract awarded to its contractor.

Aizo's RM37m sewage subcontract terminated, faces potential claims

The Ministry of Finance (MOF) will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption, with the funds also aimed at strengthening Lembaga Tabung Haji’s (TH) cash flow.

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

FBM KLCI up 0.37% to 1,608.14 on Oct 22, 2026  

Huawei Technologies Co has secured a 15 billion yuan (US$2.25 billion or RM9.2 billion) loan from Chinese banks, according to a person familiar with the matter, as spending on chips to power artificial intelligence related projects soars.

Huawei gets US$2.3 bil offshore loan as chip spending soars — Bloomberg

The tech-heavy Nasdaq slid more than 2% on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address artificial intelligence (AI)-related concerns, with a recovery in oil prices further adding to market unease.

THE energy transition is no longer just an environmental imperative but a question of energy security. As Malaysia seeks to attract investment in energy-intensive industries such as data centres and semiconductor manufacturing, securing reliable, competitively priced and low-carbon power is becom...

Bankability, not capital, is the hurdle in energy transition

East Asia is bracing for the latest in a string of powerful storms fuelled by El Nino, with Typhoon Champi disrupting flights and threatening heavy rainfall as it tracks towards Taiwan.

Typhoon Champi nears Taiwan as El Nino supercharges season

It has been almost four months since the LRT Shah Alam line officially started operating. Some commuters have since taken to social media to voice their woes, not about the train service itself but about the lack of surrounding infrastructure.

In Malaysia, stepping off a train line does...

The walkability gap around Malaysia’s train stations

The High Court on Thursday dismissed an application to hold the entire civil suit proceedings over the fatal stabbing of a schoolgirl in Bandar Utama, Petaling Jaya, last year in camera, ruling that the public would benefit from knowing what transpired.

Court dismisses bid to hold Bandar Utama schoolgirl-stabbing civil suit in camera

Demand for Indian billionaire Mukesh Ambani's US$3.2 billion Jio Platforms IPO swelled to more than five times the shares on offer on Thursday, and the retail portion of the country's biggest ever stock offering was fully subscribed.

The offering is the first by Ambani's Reliance Industries in 20 years and a key part of the billionaire's long-term vision to transform the group from an oil-to-chemicals company into a broader consumer, retail and technology business.

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