<div class=newsTextDataWrapInner>KUALA LUMPUR (Aug 16):&nbsp;Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday:</div>

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Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday

FBM KLCI up 0.68% to 1,623.90 on Aug 16, 2024

The US dollar rose on Tuesday after President-elect Donald Trump said he would impose tariffs on products coming into the United States from Mexico, Canada and China, as investors braced for policies that could set the stage for trade spats.

In an initial knee-jerk reaction to Trump's comments, the dollar jumped more than 2% against the Mexican peso and hit a four-and-a-half-year high against its Canadian counterpart.

Dollar rises after Trump tariff vows jolts Canada and Mexico

Leong Hup International Bhd’s (KL:LHI) net profit for the third quarter came in flat despite lower revenue, mainly due to lower tax expenses.

Leong Hup 3Q profit flat despite lower revenue, declares 1.45 sen dividend

UK authorities fined Macquarie Bank Ltd’s British unit £13 million (RM72.82 million) after a London trader on the firm’s metals desk was able to book fictitious trades to conceal their losses for almost two years.

Macquarie fined by UK after metals trader books false trades

Malaysia Airports Holdings Bhd’s (MAHB) (KL:AIRPORT) net profit more than doubled in its third quarter from a year earlier fuelled by higher passenger volumes.

Net profit for the three months ended Sept 30, 2024 (3QFY2024) grew to RM210.37 million or 11.74 sen per share, compared with RM94.76 million or 4.82 sen per share in the same period last year, MAHB’s bourse filing showed.

MAHB's 3Q net profit surges more than two-fold on higher passenger volumes

Greatech Technology Bhd (KL:GREATEC) announced on Tuesday that its third quarter net profit has halved on foreign exchange losses.

Greatech's 3Q profit halves as forex loss weighs

YTL Power International Bhd (KL:YTLPOWR) saw its net profit for the first quarter ended Sept 30, 2024 (1QFY2025) fall 44.5% compared to the previous year’s corresponding period due to a decline in the group’s power generation business.

YTL Power’s 1Q net profit down 44.5% on decline in power generation business

Oil prices edged higher in early trade on Tuesday after falling in the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil's risk premium.

Brent crude futures LCOc1 rose 15 cents, or 0.21%, to US$73.16 a barrel as at 0705 GMT, while US West Texas Intermediate crude futures CLc1 were at US$69.09 a barrel, up 15 cents, or 0.22%.

Oil steadies amid possible Middle East ceasefire

The Ministry of Finance announced on Tuesday that it has decided to register MyData Informatica Sdn Bhd and One Future Solutions Sdn Bhd as new credit reporting agencies.

MOF announces MyData Informatica and One Future Solutions as new credit reporting agencies

A US Senate panel on Tuesday criticised rising airline fees for seat assignments and luggage and will call air carrier executives to testify on Dec 4.

US Senate panel criticises rising airline seat fees, will call execs to testify

Sime Darby Property is Malaysia’s top developer

Penang Development Corporation (PDC) has rejected an RM818 million bid by a tripartite consortium led by IJM Corporation Bhd (KL:IJM) to develop the Batu Kawan Industrial Park 2 in Penang, Free Malaysia Today (FMT) reported.

Penang Development Corp rejects RM818 mil bid by IJM-led consortium to develop Batu Kawan industrial park — report

Malayan Banking Bhd (KL:MAYBANK), the country’s largest bank by assets, on Tuesday reported that its quarterly net profit rose 7.6% from a year earlier, as non-interest income growth offset a decline in net interest income.

Maybank's 3Q net profit edges up 7.6% as non-interest income rise offsets decline in interest revenue

President-elect Donald Trump on Monday pledged big tariffs on the US' three largest trading partners — Canada, Mexico and China — detailing how he will implement campaign promises that could trigger trade wars.

Trump vows new Canada, Mexico, China tariffs that threaten global trade

Aluminium products manufacturer Winstar Capital Bhd has launched the prospectus for its ACE Market initial public offering (IPO), aiming to raise up to RM25.88 million to purchase new machinery and equipment to expand its manufacturing capacity.

Winstar Capital launches ACE Market IPO at 35 sen per share to raise RM26 mil

Shares of Hong Leong Industries Bhd (KL:HLIND) hit a new record high on Tuesday, after the motorcycle assembler reported a surge in quarterly profits.

Hong Leong Industries shares hit new all-time high amid surge in 1Q profit

Six years since the financial woes of Lembaga Tabung Angkatan Tentera (LTAT) and Boustead Holdings Bhd came to light, there is still no firm plan in place to nurse either entity back to health.

Alternative Views: LTAT’s obsession with Boustead remains a puzzle

The Public Accounts Committee (PAC) has found that Mara Incorporated Sdn Bhd (Mara Inc) purchased&nbsp;overvalued properties in London and Australia&nbsp;in&nbsp;2013 and 2014.

Mara Inc bought overvalued properties in London and Melbourne — PAC

Malaysia's national electricity utility Tenaga Nasional Bhd (KL:TENAGA) is owed more than RM1 billion in arrears from over 600,000 accounts at the end of September which have been disconnected.

Tenaga is owed more than RM1 bil from over 600,000 accounts in arrears

Shares of MBM Resources Bhd (KL:MBMR) broke another new record high on Tuesday, as the company declared a special dividend following better-than-expected results.

MBM Resources' shares touch new highs on special dividend; analysts wary of further upside

The Federation of Investment Managers Malaysia (FIMM) recently reprimanded three former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for breaching FIMM’s Consolidated Rules and Code of Ethics.

In a statement on Tuesday, the federation said a former UTS consultant at CIMB Bank Bhd, Nur Syuhaida Rozaidi, was found violating Paragraph 3.1 of FIMM’s Code and Rule 4.2.1 of the Consolidated Rules.

FIMM reprimands former consultants for misconduct

Youth and Sports Minister Hannah Yeoh Tseow Suan disagreed with the notion that her autobiography titled&nbsp;Becoming Hannah: A Personal Journey&nbsp;had caused uneasiness among Muslims, as the book had been read by Muslims and non-Muslims alike, and added that the Home Ministry had not banned her book.

Hannah Yeoh: My autobiography did not cause uneasiness among Muslims

Shares of Petronas Dagangan Bhd (KL:PETDAG) rose on Tuesday after the fuel retailer reported a jump in quarterly profits that exceeded market expectations.

Petronas Dagangan's shares rise after better-than-expected quarterly results

The dollar rallied on Tuesday while European shares fell after US President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China.

Dollar up, European stocks come under fire as Trump vows tariffs

Shares of Gas Malaysia Bhd (KL:GASMSIA) rose on Tuesday and flirted with their all-time highs after the natural gas distribution company reported record earnings that came in above consensus expectations.

Gas Malaysia shares flirt with all-time highs; analysts warn of weaker outlook after record earnings

Pharmaniaga Bhd (KL:PHARMA) on Tuesday reported that it has turned around in the third quarter thanks to higher sales and the reversal of penalty charges from the government.

Pharmaniaga turns around in 3Q, expects strong close to 2024

China's electric vehicle giant BYD said it will launch a new generation of blade batteries in 2025, Chinese state media CGTN reported on Saturday.

BYD says it will launch new generation of blade batteries next year

Eastern &amp; Oriental Bhd (KL:E&amp;O) on Tuesday declared a special dividend, even as the property developer’s net profit only edged up slightly in the second financial quarter from a year earlier.

E&O declares special dividend of one sen, 2Q net profit up 2.2%

Neither the US nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after US President-elect Donald Trump threatened to slap an additional 10% tariff on all Chinese imports when he takes office on Jan 20.

'No one will win a trade war,' China says after Trump tariff threat

Hyundai Motor will start a strategic partnership with Inokom for the automotive assembly of several new models in Malaysia next year through an investment worth RM2.16 billion.

This investment includes efforts to upgrade Inokom's existing assembly capacity to meet Hyundai's automotive needs.

Hyundai to invest RM2.16 bil in Malaysia through strategic partnership with Inokom

Analysts are positive on IJM Corporation Bhd’s (KL:IJM) investment in JRL Group Holdings Ltd, as the move is expected to strengthen its presence in the UK construction sector. &nbsp;