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The US dollar and Asian stock markets declined. Biden previously announced his withdrawal from the 2024 US presidential election and supported He Jinli to take over the fight.
Bloomberg US Dollar Spot Index $USD(USDindex.FX)$The Mexican peso climbed as it fell 0.2% on Monday.
In the face of continuous pressure from within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November general election. The Japanese and South Korean stock markets opened lower, and the Australian stock market also weakened. Hong Kong stock index futures remained stable.
$Korea Composite Index(.KOSPI.KR)$
$Nikkei 225(.N225.JP)$
$S&P/ASX 200(.XJO.AU)$
$Hang Seng Index(800000.HK)$
The question facing investors is whether it is still necessary to stick to the Trump deal since Biden has given up his re-election campaign.
The market is likely to fluctuate greatly. Traders are waiting to see if He Jinli can be nominated by the party, and at the same time weigh whether she can gather enough momentum to challenge Trump's current leading position in the polls.
“People's subconscious reaction is that this is bad for the dollar, but it's still too early to draw conclusions,” said Olga Yangor, head of emerging market research and strategy at Crédit Agricole.
“This will largely depend on He Jinli's initial appearance, her choice of running partner, and swing state polls.”
On the commodities side, crude oil and gold prices rose in early trading.
Biden withdrew from the market...

Microsoft Global Crash Suspected Cybersecurity Company System Updates Out of Package
(Sydney, 19th) Computer networks in many parts of the world experienced connectivity problems on the 19th. The headquarters is an American computer security technology company. $CrowdStrike(CRWD.US)$ Large-scale disruptions caused $Microsoft(MSFT.US)$ Microsoft's global Microsoft Windows system (Microsoft Windows) has been paralyzed, affecting the operation of markets and social systems on a large scale. Electronic system accidents have occurred in countries and regions such as the United States, Hong Kong, Singapore, Japan, Australia, and Taiwan.
According to comprehensive foreign media reports, the Microsoft system broke out in a global crash at around 1:19 p.m. on the 19th. Many netizens reported that PTT, US Reddit, and X platforms all poured into extensive discussions. Many people shouted directly for the blue screen of the system. Many companies in Japan have already directly shut down. The Microsoft system failure also caused the US low-cost airline Frontier Airlines and other small low-cost airline companies to stop flying.
Many netizens are crying out for not being able to use Microsoft-related software, such as tools such as Microsoft 365, and some even had a “blue screen error (blue screen)” directly after updating the operating system, calling “You can announce your own vacation.”
According to a report by Windows Latest, the culprit that caused the Microsoft Windows system crash and even the blue screen error was not a minor...

The restart of the Longxin High Speed Rail is expected to reap dividends for the construction materials industry
(KUALA LUMPUR, 19th) The government will decide at the end of this year whether to restart the Longxin High Speed Rail Project (HSR), and Galaxy International Securities believes that once implemented, it will bring additional dividends to the construction and building materials industry.
Analysts at Galaxy International Securities pointed out that after going through the two processes of Information Request (RFI) and Financial Plan Request (RFI), there are now 3 finalist consortiums, and the government will decide whether to restart the Longxin High Speed Rail before the end of this year.
Although the government did not disclose the shortlist, the analyst quoted local media as saying that the finalists were $YTL(4677.MY)$ Yang Zhongli Agency - SIPP Railway Foundation; $MRCB(1651.MY)$ Horse Resources - $IJM(3336.MY)$ IJM Berjaya Rail (Berjaya Rail) - Malaysia Railways (KTMB) joint consortium; and $CHINA RAIL CONS(01186.HK)$ A Chinese consortium led by China Railway Construction (CRCC).
It is expected to join forces with China Railway Construction
“We noticed that China Railway Construction participated in the bidding alone without a local partner. According to media reports, the government's policy is that national strategic assets such as the Longxin High Speed Rail must be owned by Malaysian companies holding at least 51% of the shares.”
However, the analyst does not rule out that the three finalist consortiums may cooperate to some extent behind the scenes to propose a more comprehensive...

Third-party technology was the main reason for the “disconnection” of the Long Comprehensive Index price this afternoon
(KUALA LUMPUR 19th) $BURSA(1818.MY)$The Malaysian Stock Exchange said that information on the FTSE Composite Index experienced an interruption in midday trading on Friday, but it quickly returned to normal and did not affect trading.
Earlier, the Malaysia Stock Exchange said that FTSE Composite Index information service was interrupted, and it is investigating the matter.
Meanwhile, according to the Malaysia Stock Exchange, transactions were not affected during the period.
Afterwards, the Malaysian Stock Exchange stated in another notice that all FTSE Index and Long Composite Index information had been restored at 3:21 p.m., but the reason for the interruption was not explained.
Soon after, the Malaysian Stock Exchange announced that all FTSE Index and Long Composite Index information had been restored at 3:21 p.m., and emphasized that Malaysia Stock Exchange transactions were not affected.
The Malaysian Exchange stated in its latest statement that, according to FTSE Russel (FTSE Russel) spokesperson, this was due to a third-party technical issue, and the service of all of its indices worldwide was interrupted.
FTSE Russell believes this is related to current issues reported by several other global agencies.
The market closed on Friday, and the composite index reported 1636.55 points, up 2.74 points or 0.17% throughout the day
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Before making any investment decisions, be sure to conduct your own independent research and evaluation, and if necessary...

Rumor has it that the signing of today's deal was postponed and Shazhou's acquisition of Effen Holdings changed?
(KUALA LUMPUR 19th) It was originally scheduled to be signed by the Shazhou Government and the Armed Forces Foundation Authority (LTAT) today $AFFIN(5185.MY)$ Effen Holdings' equity transaction agreement ceremony, sources revealed that it has been postponed.
“The Edge” today quoted sources as saying that the Sarawak side has delayed the signing ceremony in order to confirm some of the conditions set by the National Bank of China for the relevant exchange.
However, sources indicated that both parties to the deal will still sign a Memorandum of Understanding (MOU) today. According to information, Shazhou Prime Minister Tan Sri Abon Zohari and some senior state officials have arrived in Kuala Lumpur.
“They originally expected to come to Kuala Lumpur to sign a formal transaction agreement, but now they have signed a memorandum of understanding.”
According to earlier media reports, the Sarawak government intends to acquire a large number of shares in Effen Holdings from LTAT and increase its shareholding from the current 4.8% to 30% in one go.
After completing the deal, the Shazhou government will surpass LTAT and become the largest shareholder of Effen Holdings.
The deal requires approval from the Bank of China, and “The Edge” also quoted sources on July 1, saying that the Bank of China has conditionally approved the deal.
“It's still unclear what the relevant conditions are, but I don't expect that to cause the deal to collapse. “The Edge” learned that the Bank of China has no opinion on the Shazhou government increasing its holdings of Effen Holdings to 30%, making it the largest shareholder.”
An unnamed industry insider...

As for Finfluencer (Finfluencer), which is becoming increasingly popular in the region, the Malaysian Securities Regulatory Commission has finally taken steps to supervise and warn the relevant influencers that if they break the law, they may face heavy penalties!
The Securities Regulatory Commission announced today that in order to respond to the growing popularity of financial influencers and increase public awareness, the agency has updated its “Guidelines for Providing Investment Advice”.
“This update clarifies the Securities Regulatory Commission's regulatory expectations for financial influencers to share financial opinions and recommendations on social media.”
The point is that the latest guidelines state that recommending a capital market product on social media may require a license issued by the Securities Regulatory Commission under certain circumstances.
“For example, the act of influencers selling specific capital market products to their followers by sharing financial opinions or recommendations, in anticipation of receiving commissions or other returns from them will require a license issued by the Securities Regulatory Commission.”
Breaking the law is punishable by 10 million prisoners for 10 years
The Securities Regulatory Commission reminds all financial influencers that carrying out regulated activities without a license would be illegal and punishable under the 2007 Capital Markets Act (CMSA).
“Offenders will face fines of up to RM10 million, or up to 10 years in prison, or both.”
The full version of the above guidelines can be found on the Securities Regulatory Commission's website: https://www.sc.com.my/regulation/guidance-notes-and-guiding-principlesdownload....

Gold Muda won another Australian railway contract, which can reap 2.3 billion in 10 years
(Kuala Lumpur 18th) $GAMUDA(5398.MY)$Goldman University and its partners have been awarded a contract with the Western Australian Public Transport Authority worth 1.6 billion Australian dollars (approximately RM5.026 billion).
According to the Malaysian Stock Exchange announcement, Goldman University and ALSTOM (ALSTOM), a company formed with a 46:54 shareholding ratio, have received an Australian Transport Authority contract for a period of 10 years and is expected to contribute 0.7 billion37 million Australian dollars (approximately RM2.3 billion) in revenue to Goldman.
The content of the contract is mainly the design, supply, testing, commissioning and maintenance of the Perth suburban railway network train control system. The contract will be implemented in stages, line by line, to reduce interference with train operations.
According to the statement, the partner Alstom is a French company famous in the railway field. It has completed several projects in Australia, including the Sydney Metro, the Melbourne High Capacity Metro, the New Queensland Train, and the Adelaide Train.
Gold's large order volume reached a record high
CIMB International Securities estimates that the value of orders currently held by the company has risen to a record high of RM26.5 billion.
Analysts reported today that based on the 46% shareholding in the winning consortium, the Perth contract will add RM2.3 billion to the company's orders and raise the overall order value to RM26.5 billion.
“In other words, the newly awarded contract increased the total value of the new projects won by Jinmu University this year to RM10.3 billion, which is equivalent to 2024 and 20...

Stock prices plummeted and rose yesterday, and the collection responded that “it may be due to acquisitions of customers in arrears”
(KUALA LUMPUR 18th) Yesterday it plummeted by more than 22% $SYNERGY(0279.MY)$Today, in response to an Unusual Trading Activity Inquiry (UMA) issued by Bursa Malaysia, it refers to the news that an American customer, Hillsdale Furniture (HF), has been acquired, or the reason for the change in its stock price.
Citing news published on the HomeNewsSnow.com website on July 2, Shengerji said that its customer HF has been acquired by Thai board manufacturer Green River Group (Green River Group), and that the relevant acquisition only includes HF's assets, not including liabilities.
In response, Shengerji pointed out that HF still owes it about 2.9 million US dollars (about 13.53 million ringgit) in terms of furniture transactions this year.
“We are still evaluating the impact of this debt on our company, and are also exploring various options to recover this debt as much as possible.”
Shengerji also emphasized that even if HF is acquired, the company can maintain most of its furniture sales with the former through the Green River Group.
“We promise to protect the interests of shareholders and will update shareholders on any important developments relating to the above events in accordance with the relevant provisions of the listing regulations.”
In addition to the above news, Shengerji said that they are unaware of other company developments or market rumors that may cause changes in stock prices...