- A + A KUALA LUMPUR (June 30): Bursa Malaysia erased gains made earlier on Thursday (June 30) to end at its intraday low following heavy selling in the last 10 minutes of trading, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.5%, or 7.26 points, to finish at 1,444.22 from Wednesday's close of 1,451.48. The benchmark index, which opened 4.02 points better at 1,455.5, moved between 1,444.22 and 1,460.3 throughout the day. Overall market breadth was negative with losers outpacing gainers 520 to 327, while 396 counters were unchanged, 1,039 untraded, and 65 others suspended. Total turnover narrowed to 2.26 billion units worth RM1.97 billion from 2.37 billion units valued at RM1.77 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices also finished broadly lower following negative cues from Wall Street overnight. The Nikkei 225 in Tokyo declined after Japan’s May … [Read more...] about Bursa ends at day’s low on heavy last-minute selling
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The Edge | Knight Frank Kuala lumpur and selangor office Monitor (1Q2022): Downward pressure on rental, occupancy rates to continue
This article first appeared in City & Country, The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A The rental and occupancy levels of office space in KL city are anticipated to see downward pressure, as a result of substantial incoming supply and low occupancy in office buildings this year. The occupancy level in KL fringe, however, is expected to remain relatively stable, driven by a wider pool of tenants/occupiers and high-quality decentralised offices, particularly in areas with ease of accessibility and adequate transport links. Meanwhile, the Selangor office market will remain resilient with more leasing activities expected, especially for buildings with Multimedia Super Corridor (MSC) status and Grade A buildings, says Knight Frank Malaysia executive director of corporate services Teh Young Khean in presenting The Edge /Knight Frank Kuala Lumpur and Selangor Office Monitor 1Q2022. Malaysia reopened its borders in early April to … [Read more...] about The Edge | Knight Frank Kuala lumpur and selangor office Monitor (1Q2022): Downward pressure on rental, occupancy rates to continue
Stocks fall almost 2% for second straight session
A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,322.64 points on Wednesday, down 45.35 points, or 1.91 percent, from the previous trading day. [YONHAP] Stocks plunged by almost 2 percent Thursday to slump for a second straight session amid recession woes and a dim outlook for the chipmaking sector. The won rose against the dollar. The Kospi retreated 45.35 points, or 1.91 percent, to close at 2,332.64 points. Trading volume was moderate at about 506 million shares worth some 8.7 trillion won ($6.7 billion), with losers outnumbering gainers 699 to 183. Institutional investors offloaded a net 321 billion won, and foreigners sold 234 billion won, while retail investors bought 521 billion won. Investors remained cautious after a near 2 percent fall on Wednesday, spooked by soaring inflation and weak economic sentiment data in the United States. Overnight, the central bank chiefs of major economies warned that the world's high inflation … [Read more...] about Stocks fall almost 2% for second straight session
President Marcos Jr praises rule of dictator father
AFP Manila, Philippines ● Thu, June 30, 2022 2022-06-30 17:05 0 53ea05b5fe2e13733519dbf4e3351236 2 Asia and Pacific Philippines,Marcos-Jr,dictatorship,human-rights,RodrigoDuterte Free Philippine President Ferdinand Marcos Jr on Thursday praised his dictator father's rule after being sworn in as the country's new leader, completing a decades-long effort to restore the clan to the country's highest office. Ferdinand "Bongbong" Marcos Jr, 64, won last month's elections by a landslide, securing the biggest victory since his father and namesake was ousted by a popular revolt in 1986. He succeeds the hugely popular Rodrigo Duterte, who gained international infamy for his deadly drug war and has threatened to kill suspected dealers after he leaves office. In the last act of reviving the family brand, Marcos Jr took the oath in a public ceremony at the National Museum in Manila in front of hundreds of diplomats, dignitaries and supporters. With his … [Read more...] about President Marcos Jr praises rule of dictator father
‘Lunch-flation’ bites for office workers
SEOUL: Office worker Park Mi-won has never bought her lunch from a convenience store, until her favourite lunch buffet recently raised prices by more than 10% to 9,000 won (US$7 or RM30.77) as South Korean inflation soars to a 14-year high. “After the price rise, I went to convenience stores instead, where I thought the prices were reasonable while food also tasted good,” the 62-year-old said. “So now I go there two to three times a week.” Global food prices surged 23% last month from a year before, according to an agricultural arm of the United Nations. The war in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar. Offering cheap instant noodles, sandwiches and gimbap (rice rolls) for under US$5 (RM21,98), convenience stores are gaining in popularity as salaried workers like Park seek ways to cut costs. South Korean convenience shop chain GS25 posted more than 30% increases in sales of instant meals in January to May … [Read more...] about ‘Lunch-flation’ bites for office workers
Sersol venture into private jet charter services via JV with Thai MJets
- A + A KUALA LUMPUR (June 30): Sersol Bhd is partnering Thailand’s private jet charter services provider MJets Ltd to venture into the private aviation industry. Both parties entered into a heads of agreement (HOA) to form a 50:50 joint venture (JV) company that offers aircraft charter services, ground handling services, aircraft management and bring in new fleet of private jets into Malaysia and Indonesia, Sersol said in a statement. Sersol, whose principal activities involve coatings, thinners and industrial chemicals, said the collaboration is expected to improve travel options at competitive prices. Its managing director Datuk Justin Lim believes the JV could tap into the increasing demand preference for private charters by high-net-worth individuals, especially after the pandemic, many passengers worldwide are seeking safer ways to travel without complications of being exposed to infections. “We believe the private jet charter aviation sector offers a blue … [Read more...] about Sersol venture into private jet charter services via JV with Thai MJets
Technology stocks head for historic wipeout as US economy cools
- A + A CHICAGO/LONDON (June 30): Skeptics have long made a sport of predicting that the decade-long rally in technology stocks was destined to reverse. At the halfway point of 2022, it seems like this is the year when they will be proven right. The Nasdaq 100 Index has tumbled by almost a third this year, including a 0.9% drop on Thursday, erasing some US$5.4 trillion in value in a selloff that has left few stocks unscathed. The benchmark, which gets half its value from tech, is on track for its biggest calendar-year decline ever. And it’s hard to make a convincing case for a market recovery in the second half: Investors are pricing in further interest rate increases from the Federal Reserve as the central bank tries to combat inflation, sparking concern that the global economy will tip into recession. Analysts are beginning to cut earnings estimates for technology companies as a result. “The issue is that we haven’t really seen inflation like this in … [Read more...] about Technology stocks head for historic wipeout as US economy cools