Asian stocks were set to rebound Friday as concerns over stretched artificial-intelligence valuations eased, putting the region on course for its first gain this week after a four-day slide.

Asian stocks set for gains as tech selloff eases

Indonesia faces a potential ejection from global stock indexes after MSCI Inc. said the country no longer merits emerging-market status, escalating the threat of foreign investor flight as concerns deepen over market integrity.

MSCI weighs downgrade of Indonesia to remove from global indexes

Wall Street staged a comeback after losses driven by concerns about the sustainability of the artificial-intelligence trade that has powered the bull market in stocks.

Stock buyers step in to power Wall Street rebound

KUALA LUMPUR (Oct 15): The Retirement Fund Incorporated's (KWAP) RM750 million allocation under Budget 2027 represents a planned commercial investment for Projek Vista Kampus across six selected universities, with the investment intended to generate sustainable long-term returns for the retiremen...

KWAP's RM750 mil campus project a planned commercial investment for long-term returns

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

Zetrix AI, Bus Cap, Sunway, AWC, CTOS Digital, Kimlun Corp, CelcomDigi, Vestland, HeiTech Padu, Duopharma Biotech, Mycron Steel, HCK Capital, JAKS Resources, Citaglobal, PJBumi

Norway-registered SEA1 Offshore Rederi AS has ceased to be a substantial shareholder in loss-making Propel Global Bhd (KL:PGB), after disposing of 49.23 million shares in the oil and gas services group.

SEA1 Offshore ceases to be substantial shareholder in Propel Global

Philippine authorities said a politician from Marawi City in the country's southern island of Mindanao had allegedly chartered the Malaysia-based private jet involved in a bid to fly over half a tonne of meth from Laos to the Philippines, Bernama reports.

Mindanao politician funded private jet in Laos drug bust, say Philippine authorities

A total of 13,743.15 tonnes of vehicle battery waste classified under scheduled waste code SW103 were generated nationwide between 2021 and 2025, according to the Ministry of Natural Resources and Environmental Sustainability (NRES).

A total of 13,743 tonnes of battery waste generated nationwide from 2021 to 2025

Malaysia is stepping up efforts to achieve its US$30 billion bilateral trade target with Thailand in 2027 through improved border infrastructure, cross-border financing and trade facilitation measures under Budget 2027, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Amir Hamzah said bilateral trade reached RM85.08 billion in the first seven months of 2026, compared with RM66.95 billion in the same period last year, while trade along the Bukit Kayu Hitam-Sadao corridor totalled RM27 billion in the first half of this year.

Malaysia steps up efforts to achieve US$30 bil trade target with Thailand

Malaysia should continue fiscal consolidation, broaden its tax base and improve subsidy targeting to strengthen its resilience to future economic shocks, according to the International Monetary Fund (IMF).

IMF Asia and Pacific Department director Krishna Srinivasan said Malaysia and Brunei were the two Asean countries exporting energy and benefiting from the recent energy shocks.

Malaysia should broaden tax base, improve subsidy targeting to withstand future shocks — IMF

Philippine authorities said a politician from Marawi City in the country's southern island of Mindanao had allegedly chartered the Malaysia-based private jet&nbsp;involved in a bid to fly over half a tonne of meth from Laos to the Philippines, Bernama reports.

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

Of the 19 Bursa Malaysia-listed firms dropped by audit firm TGS TW PLT last month, 13 have since announced replacements, with interior design outfit Adnex Group Bhd (KL:ADNEX) being the latest to fill the vacancy.

Thirteen of 19 firms dropped by TGS TW have named replacements; most opted for Kudos SBC

JAKS Resources Bhd (KL:JAKS) has proposed to place out up to 10% of its total issued shares to third-party investors to be identified to raise an estimated RM40.71 million for debt repayment and working capital.

JAKS Resources plans RM40.71m placement to raise funds for debt repayment, working capital

Labuan Corporation (LC) has appointed entrepreneur Jeffrey Lim Tau Hoong as chief executive officer of its wholly-owned investment subsidiary, Invest Labuan Sdn Bhd (ILSB), effective Thursday.

Jeffrey Lim appointed Invest Labuan CEO

A witness who had filed a police report against the director and producer of the banned film “Mentega Terbang” in 2023 testified in court on Thursday that the movie had not shaken her faith as a Muslim despite having watched the movie in its entirety.

Witness says 'Mentega Terbang' did not lead her astray despite previously claiming the movie would lead Muslims to do so

KUALA LUMPUR (Oct 15): The Retirement Fund Incorporated's (KWAP) RM750 million allocation under Budget 2027 represents a planned commercial investment for Projek Vista Kampus across six selected universities, with the investment intended to generate sustainable long-term returns for the retiremen...

Duopharma Biotech Bhd (KL:DPHARMA) said on Thursday its wholly owned unit has secured exclusive rights to distribute Taiwan-based Enimmune Corp's hand, foot and mouth disease (HFMD) vaccine in Malaysia, Singapore and Brunei, subject to regulatory approval in the three countries. &nbsp;

Duopharma Biotech unit secures HFMD vaccine distribution rights in Malaysia, Singapore and Brunei

Bank Negara Malaysia (BNM) will start collecting data from banks, insurers and payment firms automatically through application programming interfaces (APIs) in late 2028, replacing the reporting system it has used since 2012.

Bank Negara to replace 14-year-old reporting system with API-based data collection from late 2028

Vestland Bhd (KL:VLB) has secured a contract worth RM225.07 million to undertake river widening and related flood mitigation works in Kelantan.

Vestland bags RM225 mil river widening job in Kelantan

Citaglobal Bhd (KL:CITAGLB) has proposed a capital reduction of RM255 million to wipe out its accumulated losses and create retained earnings to enable a share buyback.

Citaglobal proposes RM255m capital reduction and share buyback

The Nasdaq fell to near one-month lows on Thursday, weighed by a worsening sell-off in AI-linked stocks on fears rising interest rates could impact artificial-intelligence investments, and fresh data pointing to building US price pressures.

Nasdaq slides to near one-month low as AI rout deepens

HCK Capital Group Bhd (KL:HCK) is kicking off construction of the first phase of its RM1.8 billion e.Sentral SmartCity development in Shah Alam, Selangor, by awarding a RM220 million construction contract to Alphazen Contract Sdn Bhd.

The entire 10-acre mixed-use development, which is touted to combine smart-living technology with direct access to nature, is located in Damansara West, HCK Capital’s bourse filing showed on Thursday (Oct 15).

HCK Capital kicks off works on RM1.8 bil e.Sentral SmartCity with award of RM220 mil construction contract

In his Budget 2027 speech, Prime Minister Datuk Seri Anwar Ibrahim announced RM1.2 billion in investments by Khazanah Nasional and KWAP to help local semiconductor companies move into higher-value segments, including an investment fund involving Khazanah and the Selangor state government. Separately, Khazanah and InvestPenang will establish a RM100 million Strategic Investment Fund to support semiconductor and advanced manufacturing companies in their early stages of growth. These commitments signal support for domestic industrial upgrading. Yet the speech offers no explicit focus or dedicated measures for precision machining and outsourced semiconductor assembly and testing (OSAT) — two critical pillars of Malaysia’s semiconductor ecosystem that deserve greater attention in the country’s industrial strategy.

Opinion: Budget 2027 — Malaysia must back its semiconductor backbone before the window closes

Indian billionaire Mukesh Ambani's Jio Platforms IPO is fairly valued, leaving room for a listing-day pop, analysts said, with future gains linked to the company's ability to monetise its large telecom customer base to sell digital and AI services.

The firm, a part of Reliance Industries, is seeking a valuation of US$108.3 billion from its US$3.2 billion IPO, which will be India's biggest. The share sale will open on October 21 and the shares are expected to start trading on October 28.

Ambani's Jio set for listing pop, analysts say ahead of record IPO

Astaka Padu Sdn Bhd and Kimlun Corporation Bhd (KL:KIMLUN) are extending their partnership to jointly develop the RM450 million gross development value&nbsp;Amora Serviced Residence (ASR) in Johor Bahru.

Astaka Padu, Kimlun partner to develop RM450 mil serviced apartment project in JB

Malaysia will continue to use diplomatic channels and Asean mechanisms to address the transboundary haze issue with Indonesia through a phased approach that prioritises its people's interests and health, without jeopardising bilateral relations, said Foreign Minister Datuk Seri Mohamad Hasan.

Malaysia has no plans to take legal action or issue diplomatic note over haze — Mohamad Hasan

Corporate governance in Malaysia is entering an enhanced phase. As Malaysia moves towards the forthcoming 2026 revision of the Malaysian Code on Corporate Governance (MCCG), attention is moving beyond boards and directors to the wider governance ecosystem, including the role and accountability of company secretaries.

The shift is significant. In a recent speech, the Securities Commission (SC) Chairman said consultations for MCCG 2026 highlighted the need to strengthen the competence, capabilities and professionalism of company secretaries.&nbsp;

Corporate governance beyond the boardroom

Malaysia should continue fiscal consolidation, broaden its tax base and improve subsidy targeting to strengthen its resilience to future economic shocks, according to the International Monetary Fund (IMF).

IMF Asia and Pacific Department director Krishna Srinivasan said Malaysia and Brunei were the two Asean countries exporting energy and benefiting from the recent energy shocks.

The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.

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