Stock Market & Investment News
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Asian shares hit 7-week low as China doubles down on zero-Covid
HONG KONG: Asian shares tumbled to their lowest in seven weeks on Friday and the dollar stood tall as investors globally shunned riskier assets over fears that higher U.S. interest rates and China’s reinforcement of its zero-COVID policy could hit growth hard. Read full story
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Oil rises, defying stock market falls as supply concerns persist
SINGAPORE: Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. Read full story
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Assessment for digital banks in line with the law, no plans to issue more licences
KUALA LUMPUR: Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd Yunus, in an exclusive interview with Bernama, shares more details on the assessment and selection of the five consortia for digital bank licences. Read full story
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FBM KLCI slumps to 7-week low
KUALA LUMPUR: The FBM KLCI slumped to its lowest in over seven weeks on Friday led by losses at key index-linked stocks including Kuala Lumpur Kepong (KLK), Petronas Dagangan (PetDag) and Press Metal. Read full story
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Proton sales slump in April on chip supply issues
KUALA LUMPUR: Perusahaan Otomobil Nasional Bhd (Proton) remains cautious on its production capacity amid chip supply issues and pressure from rising costs in the global car industry, said Proton Edar chief executive officer Roslan Abdullah. Read full story
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Ringgit reverses gains against US dollar
KUALA LUMPUR: The ringgit reversed yesterday’s gains and ended lower against the US dollar on Friday, tracking other Asian currencies as the risk aversion wave by equities as well as higher US Treasury yields saw investors pile into US dollars. Read full story
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TA Investment declares distribution for three funds
KUALA LUMPUR: TA Investment Management Bhd (TAIM) has declared a total of 8.5 sen income distributions for three funds. Read full story
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Favelle Favco secures orders worth RM55mil
KUALA LUMPUR: Favelle Favco Bhd (FFB) has secured four contracts worth RM55mil for the supply of cranes. Read full story
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Megat Zaharuddin resigns as Sapura Energy director
KUALA LUMPUR: Sapura Energy Bhd’s independent and non-executive director Tan Sri Megat Zaharuddin Megat Mohd Nor has resigned from his post. Read full story
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Focus Point seeks to transfer listing to Main Market
KUALA LUMPUR: Focus Point Holdings Bhd has proposed to transfer its listing to the Main Market of Bursa Malaysia from ACE Market. Read full story