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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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StanChart Partners with Wise for Faster FX Transfers in Asia, Middle East

Standard Chartered Plc (StanChart) has partnered with Wise Plc to leverage Wise’s platform for multi-currency money transfers across Asia and the Middle East. This integration will allow users to move funds in 21 currencies over the next few months, according to Wise Platform’s managing director, Steve Naudé. Key Points: Enhanced Cross-Border Transfers : Wise’s infrastructure will enable StanChart to provide faster and lower-cost international payments. Current Collaborations : This partnership expands on StanChart’s existing relationship with Wise, particularly through Mox, StanChart’s digital bank based in Hong Kong. Market Impact : Wise is also partnered with other banks like Brazil’s Nubank and HSBC’s Saudi Awwal Bank, with most cross-border payments completing instantly thanks to Wise’s extensive network. Regional Focus : Asia-Pacific, especially Singapore, remains a growth target for Wise, which has 500 employees in its Singapore office. Wise reported handling £35.2 billion (US$4...
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Standard Chartered Reshuffles Key Technology Roles Amid Executive Departure

Standard Chartered Plc has announced significant changes to its technology and operations leadership following the departure of Roel Louwhoff, the bank’s Chief Transformation, Technology, and Operations Officer. In response to Louwhoff's exit, the Asia-focused bank has appointed Alvaro Garrido as interim Group Chief Information Officer and Darrell Ryman as interim Group Chief Operations Officer. Both executives will report directly to CEO Bill Winters. Key Takeaways: New Interim Leadership in Technology and Operations : The appointments of Alvaro Garrido and Darrell Ryman as interim heads for the bank's information and operations roles mark a strategic move to maintain stability in Standard Chartered’s technology and operations departments. These appointments come amid a broader restructuring within the bank's senior management. Expansion of Strategic Responsibilities : Tanuj Kapilashrami, the Chief Strategy and Talent Officer, will take on additional responsibilities for l...
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