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Malaysia Corporate Round-Up: Energy Transition, Fundraising and IPO Momentum Drive Market Focus

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 ...
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Global Markets Drop Amid US Shutdown Risks, Trump’s EU Tariff Threats

Global markets slid on Friday as concerns over a potential US government shutdown mounted and Donald Trump’s trade threats against Europe heightened tensions. Investors also focused on upcoming US inflation data that could influence Federal Reserve policy for 2025.

Key Market Highlights

1. US Government Shutdown Risks

  • A spending bill failed in the House of Representatives on Thursday, highlighting political volatility under President-elect Donald Trump.
  • Trump’s proposed tariffs and spending policies have increased uncertainty, with credit default swaps (CDS) on six-month US bills rising to a four-week high of 11 basis points.

2. Trump’s Trade Threats

  • Trump warned the European Union to increase purchases of US oil and gas or face tariffs:
    • “Otherwise, it is TARIFFS all the way!!!” he stated on Truth Social.
  • European stocks fell 1%, marking a 3% weekly drop, as US stock futures slipped 0.7%-1.1%.

3. Inflation and Fed Policy Outlook

  • The Core Personal Consumption Expenditures (PCE), a key US inflation measure, is expected to rise 0.2% in November.
  • A higher reading could further reduce expectations for rate cuts next year, with markets now pricing in fewer than two cuts for 2025.

4. Treasury and Currency Market Impact

  • 10-year Treasury yields surpassed 4.5% for the first time since May, amid a cautious Fed stance.
  • Dollar Performance:
    • Down 0.3% at 108.12, but close to a two-year peak of 108.43.
    • Euro gained 0.2% to US$1.03925.
    • Yen recovered 0.4%, trading at 156.87, after plunging 1.7% the previous day due to the Bank of Japan's dovish stance.

5. Commodity Prices

  • Oil: US West Texas Intermediate fell 0.6% to US$68.96.
  • Gold: Gained 0.5% to US$2,605 per ounce, benefiting from safe-haven demand.
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