(July 4): One of the world’s fastest growing pools of retirement capital is reducing its investments in hedge funds, as regulatory scrutiny grows on fees and performance at Australian pension funds.

Hedge funds lose favour in Australia’s US$2.6 tril pension pot

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

Asian stocks hit 27-month top, dollar slips on rate cut talk

(July 4): Pakistan was lowered to frontier market status, from secondary emerging market by FTSE Russell, dealing a blow to the nation’s equities and potentially driving millions of dollars in outflows.

Pakistan stocks downgraded to frontier market by FTSE Russell

Traders are looking to trim excessive policy tightening bets in Taiwan as hawkish central bank moves keep swap rates near record highs.

Taiwan’s one and two-year swap rates, measures of interest rate expectations over those periods, have been trading near their peaks after the island’s central bank last month unexpectedly raised the amount of funds lenders must hold in reserve.

Record high Taiwan swaps prompt rethink of excess rate hike bets

The red-hot Washington debate over whether President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office.

The recalibration of portfolios kicked off at the end of last week after Biden’s disastrous debate with Trump heightened concerns the 81-year-old Democrat is too old to serve another term.

Global markets on alert for Biden exit as Trump-win trades mount

US President Joe Biden vowed to stay in the 2024 presidential race during a call with campaign staff on Wednesday and sought to reassure top Democrats on Capitol Hill that he is fit for reelection despite his shaky debate performance last week.

Biden dialed in to a call with worried members of his campaign team and told them he wasn't going anywhere, according to two sources familiar with the call.

'I am running' — Biden scrambles as pressure grows to abandon his campaign

Signs of renewed activity emerged on Wednesday in the quest for a ceasefire deal between Israel and Hamas in the nine-month-old war in the Gaza Strip while Israel launched more strikes on the devastated enclave.

After weeks with little public diplomacy, mediators Egypt and Qatar delivered a response from Hamas to a proposal that would include a release of hostages held in Gaza and a ceasefire in the Palestinian enclave.

Gaza ceasefire effort shows signs of revival as Israel pounds enclave

Wall Street traders sent stocks higher as bonds yields fell after a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year.


In a shortened session ahead of the US holiday, the S&P 500 hit an all-time high on bets lower rates will keep fueling Corporate America.

Stocks hit fresh highs as weak data sink US yields

Some of the world’s biggest oil-hauling supertankers are instead loading up vast volumes of diesel in the latest sign of how attacks by Yemen’s Houthis are upending global shipping. 

At least one so-called very large crude carrier, or VLCC, capable of hauling two million barrels of oil is already sailing from the Middle East to Europe, while another is in the process of loading, according to Kpler and ship-tracking data compiled by Bloomberg.

Giant oil tankers find new business after Houthi ship attacks

The dollar dropped by the most in three weeks as data showed the US services sector contracted in June at the fastest pace in four years, sending Treasury yields lower.

The Bloomberg Dollar Spot Index dropped 0.4% Wednesday, the biggest decline since June 12. The currency lost ground against all of its major counterparts, with the Norwegian krone, Swedish krona and the Australian dollar leading the advances.

Dollar drops most in three weeks as yields fall on rate-cut bets

Federal Reserve (Fed) officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting.

Minutes from the two-day Federal Open Market Committee gathering ended June 12 showed officials didn’t expect it would be appropriate to lower borrowing costs “until additional information had emerged to give them greater confidence that inflation” is on track to their 2% goal.

 

Uploaded by Isabelle Francis

Fed sought more evidence of cooling inflation, June minutes show

Budget pressures are forcing governments across Southeast Asia to rethink fuel subsidies, risking political backlash and another inflation blow to their economies.

Thailand and Malaysia have let diesel prices climb in the past weeks to ease the burden on public finances as global crude prices rise.

Asia’s fuel subsidies are falling victim to budget pressures

The feasibility study for the high-speed rail network connecting Sabah, Sarawak, Brunei, and Kalimantan, Indonesia, dubbed the Trans Borneo Railway project, is expected to begin next month, says Transport Minister Anthony Loke.

Feasibility study for Trans Borneo Railway project to begin next month

US stock indexes edged higher on Wednesday in a holiday-shortened trading session, as data pointing to a softening economy raised hopes for a September start to the Federal Reserve's policy easing.

Wall Street higher after data raises rate cut hopes; Fed minutes eyed

AG's Report 2/2024 highlights nine audits involving 11 ministries, with cost of audited projects totalling RM41.97b

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

Analysts remain upbeat on Mah Sing after Taman Desa land acquisition 

KUALA LUMPUR (July 4): The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (pre-IPO) shares of companies seeking to list on Bursa Malaysia.

Securities Commission warns public on pre-IPO investment scams

Shares of Ocean Fresh Bhd (KL:OFB) more than doubled in its trading debut on the ACE Market after the frozen seafood company raised RM14.01 million from its initial public offering (IPO) on the back of strong demand.

Ocean Fresh shares more than double on ACE Market debut

Hong Leong Investment Bank (HLIB) has turned more positive on the consumer sector, upgrading its call to "overweight", from "neutral", due to potential margin expansion from lower raw material prices and consumption boosts from the Employees Provident Fund (EPF) Account 3 and civil servant pay hikes.

HLIB upgrades consumer sector to overweight, names Aeon, Focus Point, QL Resources as top picks

Philip Research reaffirmed its positive outlook on OCK Group Bhd (KL:OCK), projecting significant gains from widespread 5G adoption and a record-breaking year in 2024.

Philip Research sees record year for OCK, boosted by 5G and order book

The red-hot Washington debate over whether President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office.

The recalibration of portfolios kicked off at the end of last week after Biden’s disastrous debate with Trump heightened concerns the 81-year-old Democrat is too old to serve another term.

Shares of Ocean Fresh Bhd (KL:OFB) more than doubled in its trading debut on the ACE Market after the frozen seafood company raised RM14.01 million from its initial public offering (IPO) on the back of strong demand.

Construction outfit Jati Tinggi Group Bhd (KL:JTGROUP) said it has secured a RM20.05 million contract to undertake the installation of 33kV underground cables in the southern region of Peninsular Malaysia.&nbsp;

Jati Tinggi secures RM20m underground cable job

&nbsp;US&nbsp;President&nbsp;Joe&nbsp;Biden&nbsp;vowed to stay in the&nbsp;2024 presidential race&nbsp;during a call with campaign staff on Wednesday and sought to reassure top Democrats on Capitol Hill that he is fit for reelection despite&nbsp;his&nbsp;shaky&nbsp;debate performance last week.

Biden&nbsp;dialed in to a call with worried members of&nbsp;his&nbsp;campaign team&nbsp;and told them he wasn't going anywhere, according to two sources familiar with the call.

Philip Research reaffirmed its positive outlook on OCK Group Bhd (KL:OCK), projecting significant gains from widespread 5G adoption and a record-breaking year in 2024.

Wall Street traders sent stocks higher as bonds yields fell after a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year.

<article>
In a shortened session ahead of the&nbsp;US holiday, the S&amp;P 500 hit an all-time high on bets lower rates will keep fueling Corporate America.
</article>

Hong Leong Investment Bank (HLIB) has turned more positive on the consumer sector, upgrading its call to "overweight", from "neutral", due to potential margin expansion from lower raw material prices and consumption boosts from the Employees Provident Fund (EPF) Account 3 and civil servant pay hikes.

Budget pressures are forcing governments across Southeast Asia to rethink fuel subsidies, risking political backlash and another inflation blow to their economies.

Thailand and Malaysia have let diesel prices climb in the past weeks to ease the burden on public finances as global crude prices rise.

The dollar dropped by the most in three weeks as data showed the US services sector contracted in June at the fastest pace in four years, sending Treasury yields lower.

The Bloomberg Dollar Spot Index dropped 0.4% Wednesday, the biggest decline since June 12. The currency lost ground against all of its major counterparts, with the Norwegian krone, Swedish krona and the Australian dollar leading the advances.

KUALA LUMPUR (July 4): The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (pre-IPO) shares of companies seeking to list on Bursa Malaysia.

The Federal Land Development Authority (Felda) recorded revenue of RM186 million in the first quarter (1Q) of 2024, up 3% from a year earlier, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Felda 1Q2024 revenue up 3% to RM186m, Parliament told

Some of the world’s biggest oil-hauling supertankers are instead loading up vast volumes of diesel in the latest sign of how attacks by Yemen’s Houthis are upending global shipping.&nbsp;

At least one so-called very large crude carrier, or VLCC, capable of hauling two million barrels of oil is already sailing from the Middle East to Europe, while another is in the process of loading, according to Kpler and ship-tracking data compiled by Bloomberg.&nbsp;

The National Scam Response Centre (NSRC) received as many as 37,002 calls from scam victims with a total reported loss of RM203.33 million as of May 2024.

Over RM203m in scam losses reported to NSRC as of May, says Anwar 

Signs&nbsp;of renewed activity emerged on Wednesday in the quest for a&nbsp;ceasefire&nbsp;deal between&nbsp;Israel&nbsp;and Hamas in the nine-month-old war in the&nbsp;Gaza&nbsp;Strip while&nbsp;Israel&nbsp;launched more strikes on the devastated&nbsp;enclave.

After weeks with little public diplomacy, mediators Egypt and Qatar delivered a response from Hamas to a proposal that would include a release of hostages held in&nbsp;Gaza&nbsp;and a&nbsp;ceasefire&nbsp;in the Palestinian&nbsp;enclave.

（吉隆坡4日讯）海洋冷冻食品公司（Ocean Fresh Bhd）（KL:OFB）今早在创业板上市，成交量超出一倍。

海洋冷冻食品创业板登场 成交量翻倍

Federal Reserve (Fed) officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting.

Minutes from the two-day Federal Open Market Committee gathering ended June 12 showed officials didn’t expect it would be appropriate to lower borrowing costs “until additional information had emerged to give them greater confidence that inflation” is on track to their 2% goal.

&nbsp;

Uploaded by Isabelle Francis

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

Traders are looking to trim excessive policy tightening bets in Taiwan as hawkish central bank moves keep swap rates near record highs.

Taiwan’s one and two-year swap rates, measures of interest rate expectations over those periods, have been trading near their peaks after the island’s central bank last month unexpectedly raised the amount of funds lenders must hold in reserve.

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