Dip in crude oil prices sends equities lower
KUALA LUMPUR: A decline in crude oil prices overnight gave the cue for the domestic stock market to take profit from recent gains. Read full story
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Japan’s Q4 capex growth picks up in positive sign for economy
TOKYO: Japanese firms increased spending on plant and equipment for the third consecutive quarter from October to December, as corporate sentiment got a boost from falling coronavirus cases and helped lift broader economic activity. Read full story
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Low inventory, strong order to spur MBM growth
PETALING JAYA: MBM Resources Bhd is cautiously optimistic about its outlook for this year, as its low inventory levels and strong order book are set to fuel sales growth on the back of a recovering economy. Read full story
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Oil blasts through US$110/bbl, as few alternatives seen to Russian supply
NEW YORK: Oil surged relentlessly beyond US$110 a barrel on Wednesday, extending its rally since Russia invaded Ukraine seven days ago, on expectations that the market will remain short of supply for months to comefollowing sanctions on Moscow and a flood of divestment from Russian oil assets by major companies. Read full story
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Fed's Powell backs quarter point March rate hike; open to bigger moves later
WASHINGTON: Federal Reserve Chair Jerome Powell, balancing high U.S. inflation against the complex new risks of a European land war, said Wednesday the central bank would begin “carefully” raising interest rates at its upcoming March meeting but be ready to move more aggressively if inflation does not cool as quickly as expected. Read full story
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US natural gas up 4% as Ukraine war causes global energy prices to soar
NEW YORK: U.S. natural gas futures rose about 4% to near a four-week high on Wednesday, gaining some rare support from surging global oil and gas prices as the Russia-Ukraine conflict stokes energy supply concerns. Read full story
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The funds that have large Russia exposure
NEW YORK: Overseas investors in Russia have tens of billions invested in the country’s stocks and bonds, according to Morningstar data. Read full story
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Many UK services businesses plan record price rises
LONDON: A record share of firms in Britain’s business and professional services sector expect to raise prices over the next three months as they face surging cost pressures, a survey showed on Thursday, adding to the Bank of England’s inflation challenge. Read full story
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Trading ideas: Petronas Gas, Wegmans, TCS, Alam Maritim, Aneka Jaringan, Willowglen MSC, G Capital and Opensys
KUALA LUMPUR: Stock to watch on Thursday include Petronas Gas, Wegmans, TCS, Alam Maritim, Aneka Jaringan, Willowglen MSC, G Capital and Opensys, according to JF Apex Research. Read full story