Malaysia stays open to Chinese firms in 5G network rollout, says Fahmi

Most Asian currencies, stocks advance as US debt bill approved

CGS-CIMB lifts the construction and materials sector to ‘overweight’ from ‘neutral’

Slower US job, wage gains expected in May

'Relentless' heatwaves scorch southern China, test power grids

Now seen as an AI stock, SoftBank is set for its best week in three years

Chanel adds new Hong Kong retail space as tourists return

Debt holders of Brazilian retailer Americanas to rebuff recovery plan

US imposes sanctions on companies tied to Sudan forces as fighting rages

PwC contracts frozen by US$191b Australian pension fund

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

Malaysia's corporate profits disappoint on slowing demand, with little help from China reopening

HLIB Research says Velesto's valuations have become inflated

Kenanga Research projects CY2023 FBM KLCI earnings to contract by 1.2%

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

Ringgit rises against US dollar in early session on June 2

Biden trips and falls during graduation ceremony, recovers quickly

Australia raises minimum wage by 5.75% as living costs surge

Global equities rise, US yields fall after debt ceiling bill advanced

Malaysia will remain a free market and allow mobile-phone carriers to decide whether to work with Chinese equipment makers including Huawei Technologies Co during the rollout of the second 5G network, said Communications and Digital Minister Fahmi Fadzil.

SoftBank Group Corp is on track for the best weekly gain since March 2020 as analysts and investors become more bullish on its potential as an artificial intelligence (AI) stock.

The shares rose as much as 6% on Friday (June 2), and are poised for a jump of about 18% on the week. Jefferies provided the latest spark, upgrading SoftBank to buy from hold, saying it is a “likely beneficiary” of the frenzy in recent stocks following Nvidia Corp’s bullish sales forecast last month.

Chanel rented a two-floor shop in Hong Kong’s prime shopping area Causeway Bay, signing one of the biggest leases since the pandemic.

The luxury brand committed to a three-year lease for the ground-level retail space at Capitol Centre starting in mid-May, according to government records.

Australia’s largest pension fund AustralianSuper has frozen all future contracts with PricewaterhouseCoopers as it assesses the fallout of the embattled accounting firm’s tax advice scandal.

Investors across Asia earmarked China’s ballooning levels of municipal borrowing as the region’s number one financial risk this year in a survey that ranked their biggest concerns.

China local government financing vehicles, or LGFVs, were the most frequently cited top risk in a Bloomberg survey of 53 economists, money managers and strategists at financial institutions ranging from sovereign wealth funds to banks and pensions.

Investors zero in on China local debt blowup as top risk in Asia

Russia’s main security service accused a US intelligence agency of hacking several thousand iPhones, including devices belonging to Russian nationals and others linked to diplomatic missions and embassies in the country.

Russia accuses US intelligence of hacking thousands of iPhones

Apple Inc is working on plans to expand and revitalize its retail chain, aiming to push deeper into China and other parts of Asia while overhauling established locations in the US and Europe.

Apple plans major retail push with new stores across China, US

Federal Reserve officials are signaling they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report.

Governor Philip Jefferson, a centrist who’s nominated to be vice chair and who often echoes Chair Jerome Powell’s views, said Wednesday that skipping an increase would give policymakers time to assess data but not preclude future tightening

Fed signal for rate pause takes pressure off hot jobs report

Stocks rose, with investors in a more optimistic mood after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes.

Miners and media companies led gains as European equities looked to snap three days of declines. The advance echoed a move higher in Asian stocks, where markets got an initial boost from some encouraging economic data out of China.

Stocks rise on debt-deal optimism, Fed pause talk

Asian leaders accustomed to straddling the US-China divide are increasingly nervous that tensions between the world’s two superpowers could spiral toward conflict, with a series of decisions on both sides making it harder for Beijing and Washington to find common ground.

Bloomberg

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