Malaysia Morning Wrap: RHB Bank Launches RM10 Billion Multi-Currency Note Program
Good morning mooers! Here are things you need to know about today's market:
● U.S. Stock Markets Show Mixed Results, Nasdaq Down More Than 2% Intraday, Dow Jones Falls off Highest
● Indonesia's Inflation Reaches Three-Year Low, Fuels Rate Cut Speculations
● Rafizi: 13MP to Focus on State-Federal Collaboration for Socio-Economic Equity
● Stocks to Watch: AME, RHB Bank, Sunzen Biotech
-moomoo News MY
Wall Street Summary
U.S. stocks ended the day significantly lower on Tuesday following Iran's launch of over 100 ballistic missiles at Israel, which resulted in substantial increases in oil prices for both West Texas Intermediate and Brent, marking their largest gains in nearly a year.
$Nasdaq Composite Index (.IXIC.US)$ experienced the steepest decline, dropping approximately 1.5%. $Dow Jones Industrial Average (.DJI.US)$ fell about 0.4%, while the $S&P 500 Index (.SPX.US)$ managed to recover from larger losses, ultimately closing down roughly 0.9%. This decline followed a month and quarter in which both major indices reached new record highs.
Breaking News
Indonesia's Inflation Reaches Three-Year Low, Fuels Rate Cut Speculations
Indonesia's consumer prices increased at their slowest rate in nearly three years, raising the likelihood that the central bank may consider further easing this month, driven by declining food and fuel prices and mounting concerns over weak consumer demand. According to the statistics office, inflation rose by 1.84% in September compared to the previous year. This marks the lowest headline figure since November 2021 and falls below the median forecast of 2% from a Bloomberg survey of economists.
Rafizi: 13MP to Emphasize State-Federal Collaboration to Address Socio-Economic and Development Disparities
The 13th Malaysia Plan (13MP) will prioritize collaboration between state and federal governments to address socio-economic and development disparities across states and regions, according to Minister of Economy Rafizi Ramli. He noted that this approach aligns with the objectives of the Madani government, which seeks to balance economic development with the public's needs for welfare and improved quality of life for everyday citizens over the five years of the national development plan.
Stocks to Watch
$RHBBANK (1066.MY)$: Bhd has officially registered a multi-currency note program with a nominal value of up to RM10 billion with the Securities Commission Malaysia (SC) today. This program has been submitted under the SC's Lodge and Launch Framework, in line with the guidelines for unlisted capital market products. The initiative enables RHB Bank to issue senior notes, tier-2 subordinated notes, and additional tier-1 capital notes in various currencies, including the ringgit, with a total outstanding nominal value capped at RM10 billion.
$AME (5293.MY)$: AME through its wholly-owned subsidiary AME Capital Sdn Bhd, has submitted a request to the Securities Commission Malaysia (SC) to establish sukuk wakalah programs with a total value of RM1.8 billion. The initiative comprises an Islamic medium-term notes (IMTN) program of up to RM1.5 billion, along with an Islamic commercial papers (ICP) program of up to RM300 million.
$SUNZEN (0148.MY)$: It is entering the ophthalmic industry by acquiring a 70% interest in Eye Nation Medical Sdn Bhd for RM6.37 million. The company has executed a share purchase agreement with the directors of Eye Nation Medical, Lee Peng Hwa and Lay Lee Chin, as indicated in the group's filing to the stock exchange on Tuesday. Eye Nation Medical primarily specializes in offering diagnostic equipment and related products for the ophthalmic sector.
$Equinix Inc (EQIX.US)$: It has partnered with the Canada Pension Plan Investment Board (CPP) and Singapore’s GIC Pte Ltd to create a joint venture (JV) aimed at developing new data centers. Based in Redwood City, California, Equinix plans to secure over US$15 billion (RM62.43 billion) in capital alongside its partners, as stated in a release on Tuesday, which confirmed a prior report by Bloomberg News. The company anticipates that the JV will acquire land to construct new facilities, potentially adding more than 1.5 gigawatts of additional capacity for clients.
Edit by Danial
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54088 FROM MBS : 3209
103310486 : $MAYBANK (1155.MY)$
103352769ARI : morning,can we talk together,and maybe market slowdown,
and take some prooduction to invest...
103352769ARI 103310486 : MAYBANK (1155MY)$
103352769ARI 103310486 : MAYBANK (1155MY)$