Bursa blue chips continue to drag
KUALA LUMPUR: The FBM KLCI remained in the red as it entered midday break as investors remained cautious over US plans to taper its assets purchase programme while tighter regulations in China's property sector threatened the economic outlook.At 12.30pm, the country's key index was down 5.04 points to 1,525.4. Market breadth however was positive as there were 439 gainers compared to 369 decliners, suggesting that bargain-hunting had resumed on smaller caps.Telcos were the biggest drag on the market, led by Axiata's 13 sen slide to RM3.97 while Maxis was down six sen to RM4.66 and Digi dropped three sen to RM4.46.Banks however stayed positive with Maybank rising three sen to RM8.08, CIMB gaining two sen to RM4.80 and Hong Leong Bank dropping 10 sen to RM18.50. Public Bank was flat at RM4.03.Tech-related sectors were buoyed by a sustained global rally, led by Vitrox rising 42 sen to RM20.36, Unisem gaining 19 sen to RM8.51 and Pentamaster climbing 18 sen to RM5.50.Of actives, Pasukhas dipped 0.5 sen to seven sen, Bintai Kinden rose seven sen to 64 sen and Serba Dinamik was down two sen to 34.5 sen.In regional markets, stocks were mostly in the red although losses were capped by some reassurance from China Evergrande that it would pay some bond interest due on Thursday, allaying fears of the property giant's collapse.Japan's Nikkei was down 0.7% while China's main index fell 0.3%. South Korea's Kospi remained closed for the final day of the Chuseok national holiday.Hong Kong's Hang Seng and Australia's ASX200 were each 0.5% higher.
Source:The Star
September 22, 2021 04:52 UTC
China stocks fall, Evergrande's assurance lifts property stocks
SHANGHAI: Chinese stocks fell on Wednesday, led by by banking and consumer staples, while real estate shares jumped after developer China Evergrande assured to make bond interest payment. The banking sub-index slumped 3.44%, while the real estate index jumped 5% after opening down nearly 2%. Over the holiday, property and banking stocks slumped in the Hong Kong market due to growing risks of defaults at Chinese property developers and concerns that Beijing's "common prosperity" agenda would also include Hong Kong real estate names. They added overseas investors took up more than 40% of the investors in the Hong Kong market. Chinese A-share market opened after the Mid-Autumn Festival holiday, while the Hong Kong market was shut on Wednesday for a public holiday.
Source:The Star
September 22, 2021 04:52 UTC
Cops will call in all parties for statements in investigation into Najib's police report
PETALING JAYA: Bukit Aman will call in all parties for statements in their investigation into former prime minister Datuk Seri Najib Razak's police report against the Inland Revenue Board (LHDN). "All involved parties will be called in to give their statements in the near future. The police will ensure that the investigation will be conducted fairly and according to the law," he said. On Sept 8, the former prime minister lodged a police report against the director-general and officers of the LHDN for purportedly "over-taxing" him. He alleged that the additional taxes that were charged against him amounted to about RM1.4bil following the 14th General Election, and also claimed that the additional taxes then rose to RM1.69bil, after additional late penalties were imposed by the LHDN's Special Action Department.
Source:The Star
September 22, 2021 04:52 UTC
Pos Malaysia resumes outbound services to 56 countries
KUALA LUMPUR: Pos Malaysia has resumed its international outbound services for mail and parcel resumed on Wednesday to 56 countries. It said the parcels comprise international air mail, international small packet, flexipack international and international air parcel. Pos added the outbound services, in addition to the Express Mail Service (EMS) which resumed in March 2021, would allow the public to connect with their loved ones, friends, families and grow their business overseas. “Send a letter, business document and parcel, and make the last mile worth the smile,” it said. For details visit www.pos.com.my or click https://www.pos.com.my/faq/#category-container-71
Source:The Star
September 22, 2021 04:30 UTC
My Say: China-related risks hang over Southeast Asia
There is little doubt that China’s economy has lost momentum recently but what is not clear is how deep or persistent this weakening is. Fixed asset investment — a major driver of China’s growth — is barely growing with some analysts estimating that it contracted in July and barely grew in August. With retail sales expanding at the slowest rate in 12 months, it looks like consumer spending, another major force behind China’s economy, is also sputtering. Thus, for now, we are not downgrading our forecasts for China’s growth this year. The bottom line — Southeast Asia must prepare for rougher timesThe region should expect three implications arising from the above discussion.
Source:The Edge Markets
September 22, 2021 03:32 UTC
Gabby Petito story boosted by social media, true-crime craze
Whether the frenzy of attention and internet sleuthing has helped the investigation is not clear, but it has illuminated the intersection between social media and the public's fascination with true-crime stories. Social media users have been fascinated by the case and have been poring over the wealth of online video and photos for clues. "A lot of it has to do with the cross-country journey they were documenting, going on social media on this grand adventure," said Joseph Scott Morgan, a Jacksonville State University professor of forensics and an authority on high-profile murder cases. "It just seemed like an odd case from the beginning and after doing more research and (collaborating) with other people on social media, the case just kept growing and having twists and turns," she said. The deaths of Kylen Schulte and Crystal Turner generated some media coverage but nothing like the Petito case.
Source:The Star
September 22, 2021 01:07 UTC
HTAR sees possible anti-vax influence in current Covid-19 hospitalisations, deaths
Consultant emergency medicine specialist Dr Ahmad Tajuddin Mohamad Nor told Bernama about two-thirds of COVID-19 patients treated at Tengku Ampuan Rahimah Hospital (HTAR) in Klang are below 60 and almost all have not been vaccinated. He added that at the time, they did not think vaccine hesitancy was a major reason for their patients’ vaccination status as vaccinations were not as widespread then. Dr Ahmad Tajuddin said the vaccination status of patients has had a significant impact on the outcome of patients at HTAR. If you’re vaccinated, it’s very unlikely you’re going to turn any worse,” he said. He also said many of the younger patients who took a turn for the worse also had undetected diabetes prior to hospitalisation.
Source:The Star
September 22, 2021 01:07 UTC
Benefits of working together
Although it’s still early days, this bodes well for the august institution, especially when cooler heads prevailed and the MP’s suspension was reduced to one day. The Memorandum of Understanding on Transformation and Political Stability between the government and leaders of the opposition Pakatan Harapan (PH) may help in fostering this positive development. Three ministers have joined many opposition MPs and leaders of civil society in hailing the landmark ruling. Additional funding will also be provided to enhance the “find, test, trace, isolate, support and vaccinate” system;3. The Covid-19 consolidated fund will also be used to provide hiring incentives and support for small and medium enterprises, including the informal and micro sectors; and5.
Source:The Star
September 22, 2021 00:22 UTC
Be a man and carry a bag!
In the past, it was deemed unmanly for a guy to carry a bag bigger than his wallet. For us women, our bags carry lots of indispensable stuff. I am pleased they follow my good example of having cloth shopping bags as well. Nick’s bag needs were spurred by his realisation that he needed more than pockets to carry his stuff. At my insistence, he also carries a foldable shopping bag and antihistamines for his allergies.
Source:The Star
September 22, 2021 00:11 UTC
Enter virtual treasure hunt to support Down Syndrome children
THE 38th edition of the Kiwanis Treasure Hunt will take place on Oct 16 and 17. The annual event is organised by Kiwanis Club of Kuala Lumpur to raise funds for the operation and maintenance of Kiwanis Down Syndrome Foundation National Centre. The centre, which is in its 32nd year, conducts an early intervention programme for children with Down Syndrome from the ages of two months to six years. Part of the funds from the treasure hunt will also be channelled to other community service projects. Entry forms can be downloaded from the Facebook page of the Kiwanis Treasure Hunt at http://bit.ly/KTH38entryformFor enquiries, call 017-282 8317 (Toh Wei Ming).
Source:The Star
September 21, 2021 23:48 UTC
National Blood Centre: Donations on the increase, supply adequate
BLOOD donations have increased lately, says National Blood Centre (PDN) director Dr Noryati Abu Amin. She said this was attributed to concern showed by those who had been donating blood consistently to help others in need. “There are also Covid-19 patients, especially those with a background of chronic diseases, who need blood transfusion. Meanwhile, Dr Noryati said the Health Ministry had issued guidelines on prevention and control measures to curb the transmission of infectious diseases during blood donation activities. She said the guidelines outlined various measures for blood donation activities to ensure the safety of blood donors, blood donation campaign organisers, health workers and blood transfusion recipients.
Source:The Star
September 21, 2021 23:37 UTC
Vibrant capital market in the works
He said the previous CMP1 (2001-2010) and CMP2 (2011-2020) had expanded the capital market while ensuring market stability and integrity over the last two decades. Moving forward, he pointed out another important pillar of the capital market is how the financial ecosystem mobilises capital to early and growth-stage firms. Towards this end, he said Malaysia’s competitive advantage is its dynamic Islamic capital market, which is more advanced compared to the region. “We already have a comprehensive Islamic capital market, CMP3 would future proof it, and adding the ESG values would further enhance our market competitiveness,” he said. “The capital market will play a key supporting role in providing resources to achieve this aim,” he added.
Source:The Star
September 21, 2021 23:32 UTC
Seniors hope to be jabbed near their home
They are hoping that those requiring booster shots will be allowed to just walk into the nearest vaccination centre to their home. “I hope that for the booster shot, those manning MySejahtera will just give us an appointment and let us take it at the nearest vaccination centre,” he said. “Now that the government plans to give us a booster shot, I hope that they will consider our situation as senior citizens and allow us to get vaccinated in Muar,” he said. Another senior known only as Abdullah, 65, said he was given an appointment in Muar when he lived in Kulai. Prime Minister Datuk Seri Ismail Sabri Yaakob had earlier announced that Malaysia would be offering a third dose or booster shot to vulnerable groups, including healthcare frontliners and the elderly living with comorbidities, next month.
Source:The Star
September 21, 2021 23:15 UTC
China Evergrande inches close to default deadline, investors wait
While concerns about the spillover from a messy collapse roiled markets on Monday, U.S. stocks were flat on Tuesday. Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates. Evergrande missed interest payments due Monday to at least two of its largest bank creditors, Bloomberg reported https://www.bloomberg.com/news/articles/2021-09-21/evergrande-misses-loan-payments-to-banks-as-bond-deadlines-loom on Tuesday, citing people familiar with the matter. Citigroup Inc subsidiaries serve as trustee and payment agent for a China Evergrande bond that matures in March 2022 and has $83.5 million in interest coming due on Thursday. Mainland China's stock and bond markets, foreign exchange and commodity futures markets, which were closed Monday and Tuesday for Mid-Autumn Festival, resume trade on Wednesday, but Hong Kong's financial markets will be closed for a public holiday.
Source:The Star
September 21, 2021 23:03 UTC
Stocks steady as markets calm after Evergrande-led slide
MSCI's gauge of stocks across the globe edged up 0.13%, following Monday's biggest percentage drop in two months. The Cboe Volatility Index fell 1.35 points to 24.36 after hitting a four-month high a day earlier. Canada's main stock index gained as the re-election of Prime Minister Justin Trudeau's Liberals reassured investors that the outlook for the economy would continue to improve. In currency trading, the dollar index fell 0.012%, with the euro down 0.03% to $1.1722. U.S. crude settled up 0.4% at $70.56 per barrel and Brent settled at $74.36, up 0.6% on the day.
Source:The Star
September 21, 2021 22:52 UTC