SYDNEY/SAN FRANCISCO/BENGALURU (Oct 23): Sales of Apple's first folding phone, the iPhone Duo, began on Friday, with market watchers betting on whether the device can reinvent the small foldables market just like the iPhone did for smartphones.

Apple launches into foldable market as iPhone Duo sales begin

YOUR DAY AHEAD: Oct 23, 2026

Here's a heads up on what to look out for today.

YOUR DAY AHEAD: Oct 23, 2026 

Investors are navigating a crowded mix of narratives, from geopolitical tensions and supply chain disruption to energy price volatility, inflation uncertainty and the continuing debate over AI. Yet beneath the noise lies a constructive backdrop, supported by resilient economic growth and strong corporate earnings across regions, especially in the US.

Accelerating AI adoption powers further upside for global markets

(Oct 23): Oil held its biggest gain in about a week as intensifying attacks on Saudi Arabia stoked fears of supply disruptions.

Oil holds biggest gain in week as Saudi attacks fan supply risks

Asian stocks were set to extend losses Friday, tracking a slump on Wall Street as a rout in technology giants and escalating Middle East hostilities drove investors toward the safety of bonds.

Asian stocks to slide on tech rout, bonds rally

(Oct 23): The Trump administration is seeking to restrict American investment in Chinese biotechnology companies, potentially complicating financial ties at a time when US drugmakers are increasingly turning to China for new medicines.

US proposes curbs on investment in Chinese biotech firms

(Oct 23): Wall Street shunned stocks as a technology rout and Middle East risks drove investors to the safety of bonds, reducing bets on another Federal Reserve rate hike in 2026.

Stocks fall as AI jitters ease bets on Fed hikes

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%

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

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 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

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.

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

Asian stocks were set to extend losses Friday, tracking a slump on Wall Street as a rout in technology giants and escalating Middle East hostilities drove investors toward the safety of bonds.

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 

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

The Pentagon plans to buy at least 850 additional Lockheed Martin Corp F-35 fighter jets, in what would be the biggest contract in the programme’s quarter-century history that signals the stealth warplane will remain a major part of the US arsenal for many years.

US agrees to buy at least 850 more F-35 fighter jets from Lockheed 

(Oct 23):&nbsp;The Trump administration is seeking to restrict American investment in Chinese biotechnology companies, potentially complicating financial ties at a time when US drugmakers are increasingly turning to China for new medicines.

Here's a heads up on what to look out for today.

The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has unveiled the SCALE Action Plan for 2027, outlining five strategic priorities to address long-standing structural challenges faced by micro, small and medium enterprises (MSMEs).

Minister Steven Sim said the action plan comprises five strategic priorities, which make up the acronym SCALE, namely S - SME Redefinition, C - Cash Flow Protection, A - AI for MSMEs, L - Local Content Requirement, and E - Easing MSME Financing.

SCALE Action Plan 2027 to tackle MSME structural challenges — Steven Sim

(Oct 23):&nbsp;Wall Street shunned stocks as a technology rout and Middle East risks drove investors to the safety of bonds, reducing bets on another Federal Reserve rate hike in 2026.

(Oct 23):&nbsp;Oil held its biggest gain in about a week as intensifying attacks on Saudi Arabia stoked fears of supply disruptions.

American Airlines Group Inc cut its full-year outlook again and issued a wide range for its fourth-quarter loss target, highlighting how the industry is struggling to predict its performance amid persistently high fuel prices.

American Airlines cuts outlook again, sees higher fuel bill this year

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

The number of Americans filing new claims for unemployment benefits dropped to near 57-year lows last week, pointing to low layoffs and labour market stability.

US weekly jobless claims near 57-year lows

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.

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.&nbsp;

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.

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