Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
Post a Comment

New Zealand Central Bank Signals Economic Struggles Amid Rising Unemployment


The Reserve Bank of New Zealand (RBNZ) released a pessimistic economic outlook on Tuesday, highlighting challenges such as rising unemployment, weakened domestic activity, and delayed business investments due to financial pressures.

In its semi-annual Financial Stability Report, the RBNZ pointed to reduced demand due to subdued global growth and high interest rates. Businesses are reporting lower profitability and subdued demand, compounded by cost pressures that are impacting trade.

Key takeaways from the report include:

  • Rising Unemployment: Increasing unemployment rates are creating acute financial difficulties for some households, according to the central bank.
  • Economic Contraction: The RBNZ expects that New Zealand's economy shrank in the third quarter, as previous cash rate hikes were implemented to curb demand and reduce inflation.
  • Interest Rate Cuts: Since August, the central bank has cut the official cash rate by 75 basis points, with the goal of supporting demand recovery as inflation declines.
  • Lag in Economic Impact: RBNZ Governor Adrian Orr expressed concern over the delayed effects of interest rate adjustments, hoping to avoid any unexpected downturns during this period.

Despite these economic challenges, the RBNZ noted that New Zealand’s financial system remains stable. Banks are prepared for a slight increase in non-performing loans but remain well-positioned to support households and businesses.

Deputy Governor Christian Hawkesby emphasized that New Zealand banks are capable of handling potential loan defaults, keeping financial risks contained amidst the economic slowdown.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

A Trader’s Guide to Navigating Malaysia's Budget 2025

Malaysia’s consumer and construction stocks are poised to benefit from Budget 2025 , as Prime Minister Datuk Seri Anwar Ibrahim is expected to introduce measures aimed at lowering the cost of living and unveiling infrastructure projects . As both Prime Minister and Finance Minister, Anwar will likely announce targeted cash transfers , civil servant salary hikes , and potential revisions to the minimum wage to boost disposable incomes, supporting retailers like AEON Co and Padini Holdings . In the construction sector, analysts expect the budget to include new projects such as the Mass Rapid Transit Line 3 and Pan Borneo Highway , with companies like Gamuda , Sunway Construction , and IJM Corp set to benefit. There could also be updates on the Johor-Singapore High-Speed Rail and cross-border economic zones, reigniting interest in the sector. The government’s commitment to growing semiconductor industries may lead to support measures for data center developers like YTL Power Int
Post a Comment
Read more