Business
Back to homepage
Hong Kong stocks slump most in Asia, yuan falls to 11-year low
HONG KONG: Hong Kong stocks tumbled the most in Asia and the yuan weakened to an 11-year low amid concern over the intensifying trade war. The Hang Seng Index dropped 3% at 10:33 a.m. in Hong Kong, poised for its
Read More
KLCI falls 1%; Asian markets slugged
KUALA LUMPUR: The FBM KLCI fell 1% at mid-morning as regional markets sank on escalating US-China trade war jitters. At 10.05am, the FBM KLCI fell 16.02 points to 1,593.31. Losers thumped gainers by 535 to 95, while 206 counters traded
Read More
Oil prices drops 2% as trade war shakes confidence
TOKYO: Oil prices fell pushing U.S. crude to its lowest in more than two weeks, as a ratcheting up of tensions in the U.S.-China war knocked confidence in the global economy. Brent crude was down 89 cents, or 1.5%, at
Read More
Malaysian banks’ profit under pressure
Second-quarter bank earnings are projected to be lacklustre owing to slower loan growth and compressed margins following Bank Negara Malaysia’s decision to cut the overnight policy rate (OPR) in May. “Our biggest concern in the upcoming reporting season is, to
Read More
KLCI soars higher but stays below 1,600 points
KUALA LUMPUR: The FBM KLCI ticked higher but remained below the crucial 1,600-point level at mid-morning today as local investors stayed cautious. At 10.05am, the FBM KLCI added 2.32 points to 1,596.91. Gainers led losers by 239 to 216, while
Read More
Brent oil up to $60, buoyed by US inventory drawdown
Prices for Brent oil soared above $60 a barrel for the first time in over a week today amid data that showed a larger-than-expected drawdown in US crude inventories, but ongoing worries about a global economic recession capped gains. Brent
Read More
KLCI opens lower due to regional decline, stays below 1,600-level
KUALA LUMPUR: The FBM KLCI started lower in early trade, tracking the decline at regional markets, weighed by select index-linked stocks. At 9.05am, the FBM KLCI fell 3.06 points to 1,599.69. The early decliners included Focus Lumber Bhd, Sime Darby
Read More
TNB drops suit against Gamuda after RM91m settlement
KUALA LUMPUR: Gamuda Bhd said Tenaga Nasional Bhd (TNB) has withdrawn a legal suit against the group after a full settlement of a sum totalling RM91.1 million. “TNB’s solicitors have withdrawn all matters pertaining to the TNB suit with no
Read More
Pos Malaysia slides 1.86% on weaker earnings
KUALA LUMPUR: Shares in Pos Malaysia Bhd fell 1.86% this morning after it posted a net loss of RM15.1 million in the quarter ended June 30, 2019, compared with a net profit of RM4.98 million in the corresponding quarter a
Read More
Utusan is valued at only RM8m
KUALA LUMPUR: Utusan Melayu (M) Bhd’s share price fell as much as four sen or 36.36% to seven sen, valuing the company at barely RM8 milion, so far today after the newspaper publisher announced yesterday a net loss for its
Read More