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Markets
Asian stocks dive as focus on earnings, geopolitics
SINGAPORE: Asian equities fell sharply on Tuesday led by technology shares as a widening conflict in the Middle East kept oil prices elevated, supporting the dollar ahead of an earnings season that will set the tone for the rest of the year.
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Commodities
Oil ticks lower as Russia diesel supply prospects counter Gulf supply risks
OIL prices edged lower on Tuesday after climbing by nearly $2 a barrel in the previous session, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.
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Markets
Profit-taking halts rebound on FBM KLCI
KUALA LUMPUR: The FBM KLCI is seeing some profit-taking pressure despite improved domestic sentiment following the tabling of Budget 2027.
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Economy
Japan's wholesale inflation remains elevated, keeps alive BOJ rate-hike view
TOKYO: Japan's wholesale prices rose 6.8% in the year to September, according to data released on Tuesday, slowing from the previous month but highlighting mounting inflationary pressure that keeps alive market expectations of a near-term interest rate hike.
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Forex
Budget 2027 optimism lifts ringgit despite external headwinds
KUALA LUMPUR: The ringgit edged higher against the US dollar at the opening, buoyed by optimism surrounding Budget 2027.
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Corporate News
Trading ideas: IOIPG, United Malacca, IJM, MN, Swift Energy, Kinergy, Zetrix, iCents, Infomina, LAC Med, Edelteq, Deleum, Tong Herr
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
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Markets
Nasdaq ends lower as oil prices surge ahead of earnings, economic data
THE Nasdaq composite closed lower on Monday as oil prices jumped nearly $2 a barrelafter attacks on a Saudi airport, and investors waited for banks to kick off the third-quarter earnings season and for economic data this week.
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Forex
Ringgit up on positive Budget 2027 sentiment
KUALA LUMPUR: The ringgit closed higher against the US dollar and other major currencies yesterday, supported by positive market sentiment following the Budget 2027 announcement last week, an analyst says.
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Corporate News
IOIPG eyes 50% stake in One Raffles Place
PETALING JAYA: IOI Properties Group Bhd (IOIPG) is looking to acquire a 50% stake in One Raffles Place, an integrated commercial development in Singapore's central business district.
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Corporate News
IOIPG-REIT advances IPO plans with six bank underwriting pacts
PETALING JAYA: IOIPG Malaysia Real Estate Investment Trust (IOIPG-REIT) has entered into an underwriting agreement with six financial institutions for its initial public offering (IPO) on the Main Market of Bursa Malaysia.
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Corporate News
MN Holdings secures DC infrastructure contracts
PETALING JAYA: MN Holdings Bhd, via its wholly-owned subsidiary, MN Power Transmission Sdn Bhd (MNPT), has accepted a letter of award (LoA) worth RM293.88mil for the construction of two 275 kilovolt (kV) consumer landing stations (CLS) for a data centre development located in the central region of Peninsular Malaysia.
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Economy
Expansionary fiscal policy apt amid global tensions
PETALING JAYA: The administration of Datuk Seri Anwar Ibrahim has opted against a sharper cut in the fiscal deficit that could constrain economic support amid global uncertainties, says Treasury secretary-general Tan Sri Johan Mahmood Merican.
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Corporate News
Astral Asia receives deposit for Pahang solar farm project
PETALING JAYA: Astral Asia Bhd received an interim deposit of RM2.34mil (representing 1% of the indicative purchase price of RM233.57mil) from HNG Capital Sdn Bhd for its solar farm and green energy development in Pahang.
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Markets
Bursa cautious as global risks offset budget perks
PETALING JAYA: Despite the long-term, growth-supportive measures tabled in Budget 2027 – including fiscal deficit consolidation targets (3.3% of gross domestic product), a minimum wage hike to RM2,000, and elevated broad-based cash aid – near-term investor sentiment on Bursa Malaysia will likely remain cautious and constrained by global macroeconomic dynamics.
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Economy
Delaying structural reforms heightens fiscal risks
PETALING JAYA: The longer Malaysia delays structural reforms, the more exposed it becomes to fiscal pressures, as volatile oil prices, rising debt-servicing costs and off-budget obligations threaten to complicate its fiscal consolidation plans, economists say.
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Corporate News
IJM Corp secures RM1.23bil project in Kulim
PETALING JAYA: IJM Corp Bhd, via its wholly-owned subsidiary IJM Construction Sdn Bhd, has secured a letter of award from AT&S Austria Technologie & Systemtechnik (Malaysia) Sdn Bhd for the manufacturing facilities construction project in Kulim Hi-Tech Park, Kedah, worth RM1.23bil.
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Corporate News
LAC Med bags RM20mil PJ contract
PETALING JAYA: LAC Med Bhd has secured a seven-year contract of up to RM20mil to provide integrated medical imaging solutions at Health Capitol Specialist Centre Sdn Bhd's upcoming ambulatory care centre in Petaling Jaya.
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Corporate News
Infomina bags contract from Panasonic Digital
PETALING JAYA: Infomina Bhd's wholly owned Japanese subsidiary, Infomina Japan KK, has secured a five-year contract worth 855 million yen (RM22mil) to supply software licences and support services to Panasonic Digital Co Ltd.
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Corporate News
Masteel to acquire 51% stake in Anpec
PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) has signed a share sale agreement to acquire a 51% stake in Anpec Global Corp Sdn Bhd for RM12mil, complementing its steel operations with high-voltage engineering capabilities.
