Malaysia’s corporate landscape saw a mix of fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA strengthened its renewable energy ambitions after its subsidiary issued RM1.05 billion in Asean Green SRI Sukuk to finance a 500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for green financing and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY raised RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...
Market Daily Report: KLCI dragged down by selloff in Axiata and Digi after merger talks fall through
KUALA LUMPUR (Sept 10): The FBM KLCI closed lower today, dragged down by heavy selling of shares of Axiata Group Bhd and Digi.Com Bhd, following the termination of merger talks between Axiata and Telenor ASA.
The benchmark index ended the day 8.62 points or 0.54% lower at 1,595.85.
“The index today was dragged down by the termination of the Axiata-Telenor merger, with selling present for Axiata and Digi shares,” Nomura head of equity research Tushar Mohata told the theedgemarkets.com.
Telenor ASA (which is the biggest shareholder of Digi) and Axiata, called off their proposed merger last week, citing complexity of the transaction involved.
Axiata was the biggest loser on Bursa Malaysia, while Digi was the fifth largest loser.
A total of 2.19 billion shares, worth RM1.93 billion, were traded across the bourse.
In a note today, JF Apex Securities Research said the KLCI could move sideways above the 1,600-level.
“Following the mixed performance in the US and Europe, the FBM KLCI could hover sideways above the support of 1,600 points,” the research house said.
Among other Asian benchmark indexes, South Korea’s KOSPI rose 12.53 points or 0.62% to 2,032.08, while Japan’s Nikkei closed 73.68 points or 0.35% higher to 21,392.10 points.
In China, the Shanghai Composite closed 3.54 points or 0.12% lower to 3,021.20 points, while Hong Kong’s Hang Seng closed 2.28 points or 0.01% higher at 26,683.68.
Most Asian stocks swung lower today, as they are weighed down by the Chinese markets, after mainland factory-gate prices shrank at their fastest pace in three years, Reuters reported.
Official data showed China’s producer price index fell 0.8% in August year-on-year. This constitutes the sharpest decline since August 2016, signalling waning international and domestic demand, Reuters said.
Source: The Edge
Comments
Post a Comment