Markets

Asia stocks gain as Fed cuts, Trump-Xi meeting in focus

SINGAPORE: Asian stocks advanced on Thursday after the Federal Reserve cut interest rates and as U.S. and Chinese leaders met to thrash out a trade deal, while the yen weakened after the Bank of Japan kept rates on hold as expected.

Banking

Bank Negara to issue policy document to broaden takaful industry

KUALA LUMPUR: Bank Negara Malaysia (BNM) plans to issue a policy document on the broader application of ta`awun (mutual assistance) in takaful by the end of this year, outlining shariah and regulatory requirements to unlock the full potential of the industry in fostering financial resilience and inclusion.

Banking

Bank Negara explores tokenisation, welcomes feedback

KUALA LUMPUR: Bank Negara Malaysia (BNM) supports a collaborative approach to exploring tokenisation to co-create a safe and sustainable roadmap for the development of tokenised financial services in Malaysia.

Forex

Ringgit extends gain for seventh day after US rate cut

KUALA LUMPUR: The ringgit extended its gains for the seventh day on Thursday, opening higher against the US dollar, supported by the much-anticipated 25 basis points cut last night by the US Federal Reserve (US Fed), an analyst said.

Markets

Mild gains on Bursa Malaysia after Fed's hawkish remarks

KUALA LUMPUR: More-hawkish-than-expected remarks from US Federal Reserve chair Jerome Powell tempered enthusiasm on the local bourse as expectations of further interest rate cuts for the year are lowered.

Corporate News

Singapore's Keppel nine-month profit jumps 25% on growth across operations

SINGAPORE-based conglomerate Keppel reported a 25% rise in net profit for the first nine months of 2025 on Thursday, aided by strong earnings growth across all its three business segments and higher recurring income.

Forex

Dollar gains as Fed cut bets recede; yen on guard

SINGAPORE: The dollar nudged higher on Thursday as traders scaled back bets of a U.S. rate cut in December following push back from Federal Reserve Chair Jerome Powell, pinning the yen near an eight-month low ahead of the Bank of Japan's (BOJ) rate decision.

Economy

Hong Kong central bank cuts interest rate, tracking Fed move

HONG KONG: Hong Kong's de-facto central bank on Thursday lowered its base interest rate by 25 basis points to 4.25%, tracking a cut by the U.S. Federal Reserve.

Corporate News

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KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Markets

Dow ends down, S&P 500 flat on Powell comments

The Dow ended lower and the S&P 500 finished flat on Wednesday after the Federal Reserve cut interest rates but Fed chair Jerome Powell said another rate cut in December is far from assured.

Economy

Fed lowers rates, but Powell suggests move may be the last of 2025

WASHINGTON: A policy divide within the U.S. central bank and a lack of federal government data may put another interest rate cut out of reach this year, Federal Reserve Chair Jerome Powell said on Wednesday, as he acknowledged the threats that officials see to the job market but also the risky nature of making further rate moves without a fuller picture of the economy.

Commodities

Oil settles higher on large drop in US stockpiles

Oil prices rose on Wednesday after data showed US crude and fuel inventories drew down more than expected last week, and as US President Donald Trump's optimistic tone over upcoming talks with his Chinese counterpart helped ease economic jitters.

Economy

Inflation spike boosts case for RBA pause

Australia's core inflation accelerated beyond expectations last quarter, complicating the Reserve Bank's path to further policy easing and prompting money markets to slash bets on a near-term interest rate cut.

Energy

UK power grid profits should fund energy debt

UK lawmakers say the government should use excess profits from grid companies to tackle record household energy debt.

Corporate News

Improving sales, lower costs to bolster Nestle

Analysts expect Nestle (M) Bhd to be supported by improving sales and stabilising raw-material costs brought about by a stronger ringgit.

Corporate News

Booking rises after travel outlook tops estimates

Booking Holdings Inc, the parent company to travel brands including Kayak and Priceline, reported a better-than-expected full-year reservations outlook, reassuring investors who have worried that broader economic concerns and a US government shutdown will stunt travel demand.

Corporate News

Activist funds stir M&A surge in US banking

This month's US$10.9bil sale of Texas-headquartered Comerica to Fifth Third Bancorp, spurred by a small South Florida-based hedge fund, has Wall Street primed for corporate activists to further energise a buoyant deals market.

Corporate News

Custom mix expected to sustain Malayan Cement

Malayan Cement Bhd's dominant market share of the industry's production capacity is expected to be maintained by leveraging its integrated structure, which includes a facility capable of customising ready-mix-concrete (RMC) products for industrial properties and data centres (DCs), says CGS International (CGSI) Research.

Corporate News

Publicis to buy meme creator Hepmil in social media push

Advertising giant Publicis Groupe SA has agreed to buy Singapore's Hepmil Media Group to bolster its social media expertise in South-East Asia's rapidly growing online market.

Auto

BYD unveils first electric mini kei car for Japanese market

China's BYD Co has unveiled its first battery-powered kei for Japan, betting the popularity of the pint-sized vehicles will help it make greater inroads in the country.