<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on August 12, 2024 - August 18, 2024</span></p></div><div><img alt="" class="gallery-items" data-high-res-src="//myassets.theedgemalaysia.com/pics/2024/TEM1536-infographic_theedgemalaysia.jpg" src="" /></div>

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On Aug 5, stock markets around the world were sent into a tailspin as the Nikkei 225 plunged 12.4%, or 4,451.28 points, in a single trading day. The malaise spread across Asian equity markets, and the local benchmark FBM KLCI was not spared either, tumbling 74.57 points, or 4.63%, and giving up gains made over the past three months.

Six stock market crashes that every investor should know about

Hong Leong Asset Management Bhd, the fund management arm of Hong Leong Financial Group Bhd (KL:HLFG), on Friday announced the appointment of Chue Kwok Yan as its chief executive officer.

Hong Leong Asset Management names Chue Kwok Yan as CEO

KUALA LUMPUR (Sept 13): Strong demand kept airlines’ load factor above pre-Covid levels as seen in the recently concluded second quarter of 2024 (2Q2024), according to MIDF Research.

Strong demand keeps airlines’ load factor above pre-Covid levels — MIDF

A proposed minimum wage increase will raise the Malaysian plantation sector’s operating cost and push the companies to spend more on automation, Public Investment Bank said.

Proposed minimum wage hike could raise palm oil companies' costs, spur automation push

Well, that’s settled. In the US, Vice-President Kamala Harris has not only secured the Democrats’ nomination for the presidential elections coming up, but she has also chosen a running mate whom, by many accounts, seems a fine choice. Early indications are that Republican candidate Donald Trump a...

My Say: What the West frequently gets wrong about China

The Malaysian Aviation Commission (Mavcom) announced on Friday the appointment of Datu Wong Hee Sieng as a new member of the commission effective Aug 16.

Mavcom welcomes Wong Hee Sieng as new member of commission

China’s bond traders defied signs of intervention to push sovereign yields to a record low, setting up the stage for a showdown with authorities seeking to tame the blistering debt rally.

China's bond yields sink to record low with intervention in focus

Chinese appliance giant Midea Group Co is poised to raise US$4 billion (RM17.28 billion) in its Hong Kong listing in an enlarged deal that will be priced at the top of the marketed range, people familiar with the matter said, in a show of demand for the city’s biggest share sale in three years.

Midea poised to raise US$4b in Hong Kong listing

(Sept 13): Crop trader Olam Agri Holdings Ltd has raised its takeover offer for Namoi Cotton Ltd, just two days after independent directors at the Australian producer recommended a rival bid from Louis Dreyfus Co BV.

Bidding war heats up as Olam raises offer for Namoi Cotton

Malaysia’s goal of boosting investments in its growing technology export sector is unlikely to be affected by the results of the US election, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul confident Malaysia's tech boom will withstand US election ripples

Op Global: 392 victims of sexual exploitation screened, 13 believed to be victims of sodomy — IGP

<p>Bina Darulaman Bhd (KL:BDB) has announced the resignation of Messrs KPMG PLT as its external auditor.</p>


KPMG resigns as Bina Darulaman’s auditor, less than four months after reappointment

<p>AirAsia X Bhd (KL:AAX) is one step closer to its planned acquisition of the aviation business of Capital A Bhd (KL:CAPITALA), which will pave the way for its parent company to be lifted out of its Practice Note 17 (PN17) status.</p>


AAX gets Bursa's nod for listing of shares related to acquisition of Capital A's aviation business

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


CCK, Ecobuilt, RHB Bank, Green Packet, Chin Hin, NCT Alliance, Fiamma, Binastra, Hibiscus Petroleum, IOI Properties, ITMAX, MN Holdings, Reservoir Link Energy

<p>Asian equities were set to advance on Friday after a fourth day of gains on Wall Street as the latest batch of economic data did little to dissuade investors about the trajectory of anticipated Federal Reserve (Fed) rate cuts.</p>

<p>Equity futures in Japan, Australia and Hong Kong climbed, with each rising by less than 1% in a sign of muted risk appetite.</p>


Asian stocks set to rise as yen holds to rally

<p>Former deputy minister Datuk Dr Mashitah Ibrahim has filed a defamation suit against the Malaysia International Humanitarian Organisation and two office bearers of the non-governmental organisation (NGO).</p>


Former deputy minister sues NGO for defamation over human trafficking claims

<p>A rally that’s already added over US$1.3 trillion (RM5.6 trillion) to the S&amp;P 500 this week powered ahead as the latest economic data did little to alter bets on a series of Federal Reserve (Fed) rate cuts.</p>


Wall Street up as S&P 500’s rally tops US$1.3 tril this week

<p>Shares of Poh Huat Resources Holdings Bhd (KL:POHUAT) fell to an 11-month low on Friday, after the furniture company reported weaker-than-expected quarterly results.</p>


Poh Huat shares down to 11-month low after disappointing quarterly results

<p>The European Commission said on Thursday it had received offers from electric vehicle makers in China for minimum import prices into the European Union as a way of avoiding tariffs, but had rejected all of them.</p>


EU rejects minimum price offers from Chinese EV exporters

<p>Blue-chip companies are spending more money on US dollar bond interest payments, and even Federal Reserve (Fed) rate cuts this year won’t immediately reverse the trend.</p>


Companies’ interest costs to keep rising, even with rate cuts

<p>Malaysia’s goal of boosting investments in its growing technology export&nbsp;sector is unlikely to be affected by the results of the US election, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


<p>As Hong Kong’s&nbsp;commercial property slump&nbsp;drags on, Chinese state money has emerged as one of the few pillars of support.&nbsp;</p>

<p>Chinese firms have become active buyers in the city’s flailing real estate market, snapping up shopping malls and offices as local and international investors pull back. While deal sizes are smaller than during Hong Kong’s&nbsp;heyday six years ago, the purchases underscore the financial hub’s ever-increasing reliance on Chinese money.</p>


Hong Kong’s battered property market lures Chinese state buyers

<p>The US federal budget deficit surged in August with one month to go until the end of the fiscal year as higher interest costs continued to weigh on the overall balance.</p>


US budget gap reaches US$1.9 tril as fiscal year nears end

<p>Microsoft Corp&nbsp;said it’s building an alternative for cybersecurity companies that now utilise the deepest layer of its operating system after a flawed update from CrowdStrike Holdings Inc&nbsp;triggered a global information technology (IT)&nbsp;meltdown.</p>


Microsoft, cyber firms pursue changes after CrowdStrike outage

<p>Clues on when the European Central Bank (ECB) will next cut interest rates were in short supply on Thursday, with president Christine Lagarde and colleagues awaiting data on how drastically the economy is deteriorating — and how that will shift inflation.</p>


Lagarde offers no help on rate cuts as ECB waits for answers

<p>Institutional investors, which have traditionally made up private debt’s largest pool of money, are no longer a source of growth for the US$1.70 trillion (RM7.34 trillion) industry.</p>


Private debt looks for growth as traditional capital flatlines

<p>A wall of debt, a financing crunch and plummeting building values are looming over commercial real estate,&nbsp;menacing&nbsp;investors and banks, but Goldman Sachs Asset Management is a buyer.</p>


Goldman likes the commercial real estate debt that others fear

<p>The United Steelworkers (USW) union said it will not be bullied into accepting Nippon Steel Corp’s last-ditch efforts to win over workers for its takeover of US Steel Corp, calling the US$14.1 billion (RM60.9&nbsp;billion) acquisition a “doomed deal” and pledging to fight any foreign ownership of the company.&nbsp;</p>


US Steel deal ‘doomed’, says union ‘steadfast’ in opposition to takeover by Nippon Steel

<p>An Indian antitrust investigation has found US e-commerce giant Amazon and Walmart's Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, according to confidential reports seen by <em>Reuters</em>.</p>


India probe finds Amazon, Walmart's Flipkart breached antitrust laws

<p>China outspent the US almost nine-to-one on infrastructure projects around the world over eight years, according to a government watchdog report that highlighted the challenge Washington faces as it vies for influence against Beijing in poorer countries.</p>
