MONEY MASTER

As emerging market investors recalibrate their portfolios, the focal point is shifting from China to its Asian neighbors, Taiwan and India. Both nations have been experiencing record stock rallies, leading to significant weightings of over 19% each in the MSCI Emerging Markets (EM) Index, closely trailing China's current 22.8%. This marks a substantial decline from China’s 40% peak in 2020, according to Bloomberg data. Taiwan and India are emerging as preferred alternatives, fueled by their respective strengths in technology and infrastructure. Taiwan is making notable strides with its semiconductor prowess, highlighted by Taiwan Semiconductor Manufacturing Co., a major supplier to Nvidia Corp, which has seen its market valuation surge. India, under Prime Minister Narendra Modi, continues to capitalize on its tech and digital economy sectors, supported by government modernization initiatives. Despite China's previous dominance in the MSCI EM Index due to its booming e-commerce ...

In a recent legal development that could have far-reaching implications for the apparel industry, Lululemon Athletica Inc. is now facing a proposed class action lawsuit for allegedly misleading consumers about its environmental practices. Filed in the US District Court for the Southern District of Florida, the lawsuit accuses the popular athleisure brand of engaging in "greenwashing" through its Be Planet marketing campaign. Key Takeaways: Accusations of Misleading Marketing:  The complaint asserts that Lululemon uses imagery of rivers, forests, and nature in its marketing to create a false perception of environmental stewardship. Growing Environmental Footprint:  Despite promises to reduce its environmental impact, Lululemon’s reported emissions have nearly doubled since 2020, conflicting with its sustainability claims. Legal and Consumer Repercussions:  The lawsuit could catalyze further legal actions against companies accused of misleading environmental practices and a...

  Last fiscal year, Apple Inc. tripled its iPhone production in India, the world's fastest-growing smartphone market, assembling over $7 billion worth of iPhones and reducing its dependence on China. Now, nearly 7% of Apple's iPhones are produced in India through partnerships with companies such as Foxconn Technology Group and Pegatron Corp., according to sources. This marks a significant increase for India, which was responsible for an estimated 1% of global iPhone production in 2021. As tensions between Washington and Beijing persist, Apple is seeking to minimize its reliance on China. The company's long-standing partners, responsible for manufacturing the majority of iPhones in China, have rapidly expanded assembly lines over the past year. In 2022, Apple faced challenges at Foxconn's main "iPhone City" complex in Zhengzhou, which exposed supply chain vulnerabilities and led to reduced output estimates. Meanwhile, Indian Prime Minister Narendra Modi has imp...

RIVAL bidders for Manchester United have been invited to submit a third offer by the end of April, according to reports. Qatari banker Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani and British billionaire Jim Ratcliffe both submitted a second bid for the Premier League club last month. Several offers are understood to have been received in recent weeks but Sheikh Jassim and Ratcliffe remain the front runners to buy United should the Glazers give up control of the club they bought in 2005 for £790 million (S$1.3 billion). United’s unpopular owners announced in November they were conducting a strategic review, with the sale of the club one option being considered. The Qatari group has reportedly made an offer of about £5 billion for 100 per cent ownership of the club while Ratcliffe, a boyhood United fan, wants to buy the combined Glazer shareholding of 69 per cent. The Americans’ asking price is believed to be around US$6 billion – a figure that would make the 20-time English ch...

The FBM KLCI index started the day with a plunge to a low of 1,638.88 before rebounding to close marginally lower at 1,643.95, down 0.46 points from a day earlier. This was largely due to the concern of a global economic meltdown with regional markets continued to head south. FBM KLCI closed marginally lower The first trading day of the Lunar Year doesn't go so well for Hong Kong market as it led the fall in the regional markets today. Hang Seng Index plunged 3.85% to 18,545.80 points as the sentiment was badly hit by the violent street protest in the special administrative region on the second day of Chinese New Year. The growing concerns on the US interest rate policy's direction and the health of global financial institutions also contributes to the negative sentiments and feeling around the equity market. Overnight, the US Federal Reserve Chairwoman Janet Yellen spoke about risks to the economic outlook that could delay the central bank’s plans for raising rates.  M...

MUKHRIZ RESIGNS, AHMAD BASHAH SWORN IN AS KEDAH MB Malaysia's political tension seem to have gone one tension up, with former PM's Mahathir's son, Mukhriz Mahathir being replaced by Ahmad Bashah as the Kedah Menteri Besar (MB). Mukhriz out, Bashah in Mukhriz said he was removed because of his criticism of Prime Minister Datuk Seri Najib Razak over 1Malaysia Development Bhd and the RM2.6 billion donation. Datuk Seri Ahmad Bashah, aged 66 was sworn in as the new Kedah Menteri Besar (MB) last Thursday. This has ended the state's leadership crisis after Mukhriz was being told that he no longer had the support of the majority in the state assembly. Ahmad Bashah, who led the revolt against Mukhriz is the deputy chief of Kedah UMNO. This is probably a sign of a weakened influence from the Mahathir's camp. LEMBAGA TABUNG HAJI (LTH) announces 5% dividend, 3% bonus Lembaga Tabung Haji (LTH) announced an annual dividend of 5% for 2015 for its depositors. Thi...

Stocks closed near the flatline Tuesday after a choppy trading session as U.S. oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen's testimony. The Dow fell nearly 150 points shortly after the open but briefly turned positive. The blue chips index briefly rose 100 points in late-afternoon trading, with Home Depot contributing the most gains. The S&P 500 dropped nearly 1 percent at the open before briefly turning positive. The index held lower for most of the afternoon but briefly tried for gains as energy traded off its session lows. The Nasdaq composite seesawed, opening down more than 1 percent, before reversing losses and gaining about 1 percent. In afternoon trading, however, the index fell more than 1 percent before trying for gains. Investors also kept an eye on oil prices Tuesday. WTI futures plunged 5.89 percent, or $1.75, to trade at $27.94 a barrel in choppy trading. Earlier, the International Energy Agency said that demand for oi...

iPhone slowdown? Is that even possible? But that's what's in the NEWS. This has prompted APPLE Inc. to forecast a sales decline for the first time in more than a decade, adding to evidence that the market for smartphones is becoming saturated and that expansion in China is no longer enough to maintain the company’s unprecedented run of growth. APPLE's iPhone slowdown? On Tuesday, Apple said that revenue will be from $50 billion to $53 billion. This is the first quarterly drop since 2003 and it is also below the average analyst of $55.61 billion, according to Street Account. Some of the analysts look at the Q2 guidance provided by Apple seriously as they are usually quite true. Shares in the company have fallen nearly 20 percent in the last six months. Dow had a 8% decrease while Nasdaq Composite had a 10% fall for the same period. This probably reflect the worries that analysts have on how the slowdown in China could hurt Apple's expected growth in the re...