<div class=newsTextDataWrapInner><p>(Nov&nbsp;7):&nbsp;The Nasdaq 100 Index climbed to its first record since July in the wake of the US presidential election, which&nbsp;added&nbsp;to the year’s powerful bull market in megacap tech stocks.</p></div>

<div class=newsTextDataWrapInner><p>The index rose 2.7% on Wednesday, its biggest one-day gain since Aug 8, and closed at an all-time high. It is now up 24% in 2024, and up 16% off an August low. The day’s gain came as investors bet the results of the election would result in a more favourable regulatory backdrop, though big tech has performed well throughout 2024 amid a boom in artificial intelligence (AI).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Results this earnings season have reinforced the bull case for technology megacaps, with Alphabet Inc and Tesla Inc both seeing pronounced&nbsp;rallies&nbsp;following their&nbsp;reports. Amazon.com Inc hit a&nbsp;record&nbsp;of its own on Wednesday, and also recently reported strong results.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“So far I am encouraged, because it seems like fundamentals remain intact,” said Jim Awad, a senior managing director at Clearstead Advisors. “The market has been wanting to see that there is a benefit from all the spending on AI, and these reports indicate that it is so. I think the rally will continue, and if you have any sort of long-term investment horizon, you need to be in these names.”</p></div>

<div class="pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-desc="" data-rel="ceolightbox" href="//myassets.theedgemalaysia.com/pics/2024/20241107Nasdaq.png"><img alt="" src="//myassets.theedgemalaysia.com/pics/2024/20241107Nasdaq.png" /></a></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Isabelle Francis</em></p></div>


The Nasdaq 100 Index climbed to its first record since July in the wake of the US presidential election, which added to the year’s powerful bull market in megacap tech stocks.

Nasdaq 100 hits record as Big Tech extends climb after election

The Indonesian arm of Malaysia-based home improvement retailer Mr DIY Group (M) Bhd (KL:MRDIY) shook off a wobbly start to rise on its stock market debut on Thursday.

Indonesian arm of Mr DIY climbs on market debut

Prime Minister Datuk Seri Anwar Ibrahim on Thursday hosted an official luncheon in honour of visiting Turkmenistan President Serdar Berdimuhamedow at Seri Perdana here.

Anwar hosts luncheon for Turkmenistan president

THE general perception is that PLUS Malaysia Bhd is sitting on a lucrative toll concession. But Datuk Amran Hafiz Affifudin, managing director of UEM Group Bhd, tells The Edge that such a perception is different from reality.

“Sometimes people on the outside think that it [PLUS highway ...

Cover Story: PLUS’ concession not as lucrative as perceived, says UEM Group MD

(Dec 19): Bitcoin sank below US$100,000 (RM450,441) as part of a wider retreat in speculative investments, after the US Federal Reserve signalled greater caution about the scope for future interest-rate reductions.

Bitcoin tests US$100,000 after Fed spurs worst drop since September

THERE has been speculation for the past few weeks that healthcare support services and property and facility solutions provider UEM Edgenta Bhd (KL:EDGENTA) will be taken private by its 69.14% parent company UEM Group Bhd, the infrastructure arm of Khazanah Nasional Bhd.

“I cannot comme...

Cover Story: Depressed valuation sparks speculation about UEM Edgenta

The Hong Kong Monetary Authority (HKMA) on Thursday cut its base interest rate charged via the overnight discount window by 25 basis points to 4.75%, tracking a move by the US Federal Reserve.

Hong Kong central bank cuts interest rate tracking Fed move, banks follow

The Inland Revenue Board (IRB) is urging all taxpayers who have participated in the Special Voluntary Disclosure Programme (PKPS) 2.0 to make full payment according to the instalment schedule set, on or before Dec 31.

IRB reminds taxpayers PKPS 2.0 instalment payments due by Dec 31

Oil prices fell in Asian trade on Thursday after the US Federal Reserve signalled it would slow the pace of interest rate cuts in 2025, which could slow economic growth and reduce fuel demand.

Oil retreats on demand concerns after Fed signals slower easing ahead

UEM Group Bhd, the wholly-owned infrastructure arm of Khazanah Nasional Bhd, has been silent for a long time.

Some in the diversified group say the last time it gave an interview to the media was when Datuk Mohd Izzaddin Idris was at the helm. He left in October 2018, after holding the ...

Cover Story: Sleeping Giant UEM Group Stirs

PUTRAJAYA (Dec 19): A bill to amend the Education Act 1996 to make compulsory education up to secondary school level, is expected to be tabled in the Dewan Rakyat in February next year, said Education Minister Fadhlina Sidek.

Fadhlina: Bill on compulsory education until secondary school for tabling in Parliament in February next year

<p>Datin Seri Rosmah Mansor has been granted a full acquittal in her RM7.1 million money-laundering and tax evasion case.&nbsp;</p>


Rosmah acquitted in RM7.1m money-laundering and tax evasion case

<p>The Indonesian arm of Malaysia-based home improvement retailer Mr DIY Group (M) Bhd (KL:MRDIY) shook off a wobbly start to rise on its stock market debut on Thursday.</p>


<p>Asian stocks slipped and the dollar was perched near a two-year high on Thursday after the US Federal Reserve cautioned it would ease the pace of rate cuts in the coming year, while the Bank of Japan (BOJ) kept rates steady, as expected.</p>


Asian stocks slide after Fed flags slower rate cuts, BOJ stands pat

<p>Shares of YTL Corporation Bhd (KL:YTL) and its associate YTL Power International Bhd (KL:YTLPOWR) soared in early trade on Thursday, a day after YTL Power said the Malaysian Anti-Corruption Commission (MACC) has cleared the group of any wrongdoing in the 1BestariNet project.</p>


YTL Corp, YTL Power soar in early trade after MACC clears subsidiary of wrongdoing in 1BestariNet project

<p>NEW YORK (Dec 19) :&nbsp;Federal&nbsp;Reserve chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to&nbsp;stockpile&nbsp;large amounts of bitcoin.</p>


Powell says Fed cannot hold bitcoin, not seeking to change that

<p>KUALA LUMPUR (Dec 19): Aluminproducts maker Winstar Capital Bhd (KL:WINSTAR) rose 40% on its ACE Market trading debut on Thursday.</p>


Winstar Capital rises 40% on ACE Market debut

<p>Shares of Malaysian Resources Corporation Bhd (KL:MRCB) slipped to a four-month low in early trade after the group was said to have withdrawn from the Berjaya Group-led consortium vying for the Kuala Lumpur-Singapore high-speed rail (HSR) project.</p>


MRCB slips to four-month low after group was said to have withdrawn from HSR-bidding consortium

<p>The costly truth about US government shutdowns: They don’t save taxpayers a dime.</p>


Trump, Musk threaten government shutdown. Here’s what that costs

<p>KUALA LUMPUR (Dec 19): Datin Seri Rosmah Mansor has pronounced the court’s decision to acquit her of all 17 charges in her money-laundering and tax evasion case as “justice”.</p>


Rosmah celebrates acquittal: ‘This is what i call justice’

<p>(Dec 19):&nbsp;A look at the day ahead in Asian markets.</p>


Fed's 'hawkish cut' slams markets, BOJ up next

<p>WASHINGTON (Dec 18):&nbsp;The US central bank lowered interest rates on Wednesday, but&nbsp;Federal Reserve chair Jerome Powell said more reductions in borrowing costs hinge on further progress in lowering stubbornly high inflation, remarks that showed policymakers are beginning to reckon with the prospects for sweeping economic change under an incoming Trump administration.</p>


Fed lowers rates but sees fewer cuts in 2025 due to stubbornly high inflation

<p>High Court judge Wan Muhammad Amin Wan Yahya has taken over a civil suit against former prime minister Datuk Seri Najib Razak's wife, Datin Seri Rosmah Mansor, and a Singaporean woman, Shabnam Naraindas Daswani, involving the purchase of luxury goods using funds allegedly diverted from 1Malaysia Development Bhd (1MDB).</p>


Third judge takes over 1MDB's US$346 mil suit against Rosmah and Singaporean woman

<p>(Dec&nbsp;19) :&nbsp;The Federal Reserve’s waning enthusiasm for rate cuts jarred US markets on Wednesday, sending stocks lower and pushing Treasury yields and the dollar sharply higher. It was the worst loss for the S&amp;P 500 on the day of a rate decision since 2001.</p>


S&P 500 sees worst Fed day since 2001; yields up

<p>BENGALURU (Dec 18): Micron Technology&nbsp;forecast quarterly revenue and profit below Wall Street estimates on Wednesday, sending shares lower as weak demand for consumer-centric products such as personal computers and smartphones impacts the chipmaker's business.</p>


Micron shares tumble as quarterly forecast signals sluggish consumer demand

<p>(Dec&nbsp;19) :&nbsp;The US Federal Reserve did what markets expected on Wednesday. But that didn’t stop investors from dumping risk assets in droves.</p>


Wall Street pros say fears of fewer Fed cuts sparking selloff

<p>(Dec 19):&nbsp;Global investors are looking to Southeast Asia for some shelter, as they brace for uncertainties surrounding Donald Trump’s trade policies, boosting prospects for the region’s stocks in the coming year.</p>


Southeast Asian stocks to offer shelter amid Trump threat — analysts

<p>Analysts expect Scientex Bhd (KL:SCIENTX) to see better earnings from the property division moving forward, which will offset any shortfall and challenges at its packaging manufacturing segment.</p>


Analysts expect Scientex's property division to see better earnings amid challenges at packaging segment

<p>KUALA LUMPUR (Dec 19): Sekretariat Gerak Gempur Media Sosial Rakyat (SGGMSR), together with representatives from 20 non-governmental organisations (NGOs),&nbsp;lodged a police report on Wednesday (Dec 18) against Tun Dr Mahathir Mohamad regarding the Batu Puteh case.</p>


NGO lodges police report against Tun M over Batu Puteh case

<p>The Bank of Japan (BOJ) kept interest rates unchanged on Thursday but one dissenting board member's proposal to push up borrowing costs showed the bank remains on track to tighten policy early next year.</p>


BOJ keeps rates steady, hawkish board member dissents

<p>Property developer Mah Sing Group Bhd (KL:MAHSING) has acquired 5.99 acres of land in Taman Pelangi, Johor, from S P Setia Bhd (KL:SPSETIA) for RM156.8 million to develop a premium serviced apartment project.</p>
