![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ec7635b0-victor-orban-x-jd-vance-07042026.webp\")
BUDAPEST: Hungary is purchasing crude oil worth US$500 million from the US to “diversify supply sources”, a government official said today, following the visit of US vice-president JD Vance.
\nVance visited Budapest this week to throw his support behind nationalist prime minister Viktor Orban, who is facing an unprecedented challenge to his 16-year rule in Sunday’s parliamentary elections.
\nHungarian oil company MOL will be purchasing crude oil from the US in the “coming weeks and months”, Orban’s chief of staff, Gergely Gulyas, told a press briefing.
\n“This step serves to diversify supply sources and is part of strengthening US–Hungarian energy relations,” he added.
\nMOL is purchasing 510,000 tonnes of crude oil worth US$500 million from the US and American energy companies, the White House said in a statement.
\nThe statement outlined “achievements” in the two countries’ ties reinforced by Vance’s “historic trip” to the EU country.
\nUS president Donald Trump has endorsed Orban’s re-election bid.
\nUS state secretary Marco Rubio also visited the central European country of 9.5 million people in mid-February.
\nHungary has continued to rely heavily on Russian energy.
\nOrban broke ranks with most other EU leaders to maintain close ties with Russian president Vladimir Putin despite Moscow’s invasion of Ukraine.
\n","content_text":"BUDAPEST: Hungary is purchasing crude oil worth US$500 million from the US to \"diversify supply sources\", a government official said today, following the visit of US vice-president JD Vance.\nVance visited Budapest this week to throw his support behind nationalist prime minister Viktor Orban, who is facing an unprecedented challenge to his 16-year rule in Sunday's parliamentary elections.\nHungarian oil company MOL will be purchasing crude oil from the US in the \"coming weeks and months\", Orban's chief of staff, Gergely Gulyas, told a press briefing.\n\"This step serves to diversify supply sources and is part of strengthening US–Hungarian energy relations,\" he added.\nMOL is purchasing 510,000 tonnes of crude oil worth US$500 million from the US and American energy companies, the White House said in a statement.\nThe statement outlined \"achievements\" in the two countries' ties reinforced by Vance's \"historic trip\" to the EU country.\nUS president Donald Trump has endorsed Orban's re-election bid.\nUS state secretary Marco Rubio also visited the central European country of 9.5 million people in mid-February.\nHungary has continued to rely heavily on Russian energy.\nOrban broke ranks with most other EU leaders to maintain close ties with Russian president Vladimir Putin despite Moscow's invasion of Ukraine.","date_published":"2026-04-09T15:13:10.000Z","author":{"name":"AFP"},"tags":["World","Top World","Business","World Business","Top Business","crude oil","Donald Trump","EU","hungary","JD Vance","marco rubio","MOL","Viktor Orbán","Vladimir Putin"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ec7635b0-victor-orban-x-jd-vance-07042026.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ec7635b0-victor-orban-x-jd-vance-07042026.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/us-stock-futures-fall-over-shaky-mideast-truce","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/us-stock-futures-fall-over-shaky-mideast-truce","title":"US stock futures fall over shaky Mideast truce","summary":"Investors will also watch the final reading of Q4 economic growth.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/1eabc1a2-9621969_1600x1000_1.webp\")
NEW YORK: US stock futures fell on Thursday after the indexes rallied in the previous session, as cracks emerged in the fragile Middle East ceasefire, while investors awaited a key domestic inflation reading later in the day.
\nPresident Donald Trump vowed to retain military assets in the Middle East until a peace deal was reached with Iran and warned of a major escalation if it failed to comply, a day after fighting in the region continued despite Tuesday’s ceasefire.
\nTehran warned that there would be no deal unless Israel ceases bombing Lebanon.
\nFew signs of traffic moving through the Strait of Hormuz heightened uncertainty around energy shipments, leading to a rebound in oil prices, though they remained below US$100 a barrel. US energy stocks inched slightly higher in premarket trading.
\nThe S&P 500 and the Nasdaq posted their biggest one-day jumps in over a week on Wednesday, as global markets cheered the two-week ceasefire, while the Dow marked its steepest rise in a year.
\n“While the crisis’ peak is likely behind us, and markets appear to think that is the case, it may still be too early to aggressively extend risk,” said analysts at BCA Research.
\n“With volatile headlines and rhetoric shifting… Hormuz flows will determine whether any truce is truly working. Risk assets could still rally even if kinetic attacks continue, provided Hormuz shows credible signs of reopening.”
\nAt 7.10am, Dow E-minis were down 226 points, or 0.47%, S&P 500 E-minis were down 28 points, or 0.41%, and Nasdaq 100 E-minis were down 88 points, or 0.35%.
\nOn Thursday, investors will parse the personal consumption expenditure (PCE) figures for February – the Federal Reserve’s preferred inflation gauge – with economists polled by Reuters expecting the PCE index to hold steady at 2.8%, unchanged from January.
\nA final reading of economic growth in the fourth quarter (Q4) will also be watched.
\nFriday’s consumer prices index number for March will grab the spotlight as investors wait to see the economic impact of elevated oil prices stemming from the conflict.
\nMoney market participants are expecting only about 30% chances of a 25 basis-point interest rate cut by end-2026, compared with a 56% chance a day ago, per LSEG-compiled data.
\nThey expected two cuts this year before the war broke out, while bets for a rate hike in December had also risen during the conflict.
\nMinutes from the central bank’s March meeting showed on Wednesday a growing group of policymakers felt last month that rate hikes might be needed to counter inflation that continued to exceed the central bank’s 2% target, especially as the war drove up prices.
\nAmong premarket movers, Applied Digital shares dropped 3.8% after the data centre operator’s third-quarter net loss widened from a year earlier.
\nCoreweave jumped 7% after the cloud infrastructure firm announced an expanded US$21 billion cloud deal with Meta Platforms.
\n","content_text":"NEW YORK: US stock futures fell on Thursday after the indexes rallied in the previous session, as cracks emerged in the fragile Middle East ceasefire, while investors awaited a key domestic inflation reading later in the day.\nPresident Donald Trump vowed to retain military assets in the Middle East until a peace deal was reached with Iran and warned of a major escalation if it failed to comply, a day after fighting in the region continued despite Tuesday's ceasefire.\nTehran warned that there would be no deal unless Israel ceases bombing Lebanon.\nFew signs of traffic moving through the Strait of Hormuz heightened uncertainty around energy shipments, leading to a rebound in oil prices, though they remained below US$100 a barrel. US energy stocks inched slightly higher in premarket trading.\nThe S&P 500 and the Nasdaq posted their biggest one-day jumps in over a week on Wednesday, as global markets cheered the two-week ceasefire, while the Dow marked its steepest rise in a year.\n\"While the crisis' peak is likely behind us, and markets appear to think that is the case, it may still be too early to aggressively extend risk,\" said analysts at BCA Research.\n\"With volatile headlines and rhetoric shifting... Hormuz flows will determine whether any truce is truly working. Risk assets could still rally even if kinetic attacks continue, provided Hormuz shows credible signs of reopening.\"\nAt 7.10am, Dow E-minis were down 226 points, or 0.47%, S&P 500 E-minis were down 28 points, or 0.41%, and Nasdaq 100 E-minis were down 88 points, or 0.35%.\nOn Thursday, investors will parse the personal consumption expenditure (PCE) figures for February - the Federal Reserve's preferred inflation gauge - with economists polled by Reuters expecting the PCE index to hold steady at 2.8%, unchanged from January.\nA final reading of economic growth in the fourth quarter (Q4) will also be watched.\nFriday's consumer prices index number for March will grab the spotlight as investors wait to see the economic impact of elevated oil prices stemming from the conflict.\nMoney market participants are expecting only about 30% chances of a 25 basis-point interest rate cut by end-2026, compared with a 56% chance a day ago, per LSEG-compiled data.\nThey expected two cuts this year before the war broke out, while bets for a rate hike in December had also risen during the conflict.\nMinutes from the central bank's March meeting showed on Wednesday a growing group of policymakers felt last month that rate hikes might be needed to counter inflation that continued to exceed the central bank's 2% target, especially as the war drove up prices.\nAmong premarket movers, Applied Digital shares dropped 3.8% after the data centre operator's third-quarter net loss widened from a year earlier.\nCoreweave jumped 7% after the cloud infrastructure firm announced an expanded US$21 billion cloud deal with Meta Platforms.","date_published":"2026-04-09T12:29:14.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/1eabc1a2-9621969_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/1eabc1a2-9621969_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/india-to-grow-at-6-6-in-2027-says-world-bank","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/india-to-grow-at-6-6-in-2027-says-world-bank","title":"India to grow at 6.6% in 2027, says World Bank","summary":"The World Bank said that despite significant risks, with the Iran war fuelling inflation concerns, India remains among the world’s fastest-growing major economies.","content_html":"![\"Reserve](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/04/17294448-reserve-bank-of-india.webp\")
NEW DELHI: India’s expected economic growth of 6.6% for fiscal 2027 could face significant risks as the Iran war fans inflation worries, but ample foreign exchange buffers and a well-capitalised banking system could help mitigate some of it, the World Bank said.
\nDoubts lingered over a fragile two-week Middle East ceasefire, raising concerns that energy flows through the crucial Strait of Hormuz will remain restricted. India, which imports about 90% of its oil, is among economies most exposed to prolonged war-related energy supply disruptions.
\nRetail inflation in the South Asian nation is projected at 4.9% for the current fiscal year, reflecting higher food and energy prices and exchange depreciation pressure, World Bank’s India Economist Aurelien Kruse said at a news conference in New Delhi on Thursday, after the release of its biannual report on the nation.
\nThe vulnerability has already rattled investors. The rupee has slid to a record low as foreign funds pulled nearly US$19 billion from markets between March and early April.
\nIndia’s central bank expects growth to fall to 6.9% in fiscal 2027 from an expected 7.6% in the fiscal year ended March 31, 2026. Average inflation for the year is projected at 4.6%.
\nInput costs will rise for the industrial sector due to high costs of energy and petroleum-based raw materials and services, Kruse added.
\nIndia’s forex reserves—sufficient for at least 11 months as per the Reserve Bank of India—could help, the World Bank said. Forex reserves rose to US$697.1 billion as of April 3, per the latest data, from US$688.06 billion in the previous week.
\n“Even with the slowdown, India remains among the fastest-growing major economies in the world,” the World Bank said.
\nIndia’s current account deficit in the fiscal 2027 is expected to increase to 1.8% of gross domestic product due to higher energy import bill, according to the World Bank.
\nThe general government fiscal deficit is projected to increase marginally to 7.6% of GDP versus 7.3% in the absence of the conflict, according to the bank, as higher energy prices will feed into higher spending on fertilizer and fuel subsidies while excise duty cuts will contain revenue growth.
\nOver the medium term, however, the overall fiscal deficit is projected to decline gradually, the bank added.
\n","content_text":"NEW DELHI: India's expected economic growth of 6.6% for fiscal 2027 could face significant risks as the Iran war fans inflation worries, but ample foreign exchange buffers and a well-capitalised banking system could help mitigate some of it, the World Bank said.\nDoubts lingered over a fragile two-week Middle East ceasefire, raising concerns that energy flows through the crucial Strait of Hormuz will remain restricted. India, which imports about 90% of its oil, is among economies most exposed to prolonged war-related energy supply disruptions.\nRetail inflation in the South Asian nation is projected at 4.9% for the current fiscal year, reflecting higher food and energy prices and exchange depreciation pressure, World Bank's India Economist Aurelien Kruse said at a news conference in New Delhi on Thursday, after the release of its biannual report on the nation.\nThe vulnerability has already rattled investors. The rupee has slid to a record low as foreign funds pulled nearly US$19 billion from markets between March and early April.\nIndia's central bank expects growth to fall to 6.9% in fiscal 2027 from an expected 7.6% in the fiscal year ended March 31, 2026. Average inflation for the year is projected at 4.6%.\nInput costs will rise for the industrial sector due to high costs of energy and petroleum-based raw materials and services, Kruse added.\nIndia's forex reserves—sufficient for at least 11 months as per the Reserve Bank of India—could help, the World Bank said. Forex reserves rose to US$697.1 billion as of April 3, per the latest data, from US$688.06 billion in the previous week.\n\"Even with the slowdown, India remains among the fastest-growing major economies in the world,\" the World Bank said.\nIndia's current account deficit in the fiscal 2027 is expected to increase to 1.8% of gross domestic product due to higher energy import bill, according to the World Bank.\nThe general government fiscal deficit is projected to increase marginally to 7.6% of GDP versus 7.3% in the absence of the conflict, according to the bank, as higher energy prices will feed into higher spending on fertilizer and fuel subsidies while excise duty cuts will contain revenue growth.\nOver the medium term, however, the overall fiscal deficit is projected to decline gradually, the bank added.","date_published":"2026-04-09T12:12:23.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","2027","6.6%","crisis","grow","Middle East","ndia","World Bank"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/04/17294448-reserve-bank-of-india.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/04/17294448-reserve-bank-of-india.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/despite-middle-east-truce-airlines-fear-long-term-disruptions","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/despite-middle-east-truce-airlines-fear-long-term-disruptions","title":"Despite Middle East truce, airlines fear long-term disruptions","summary":"Soaring fuel costs and weaker demand, as passengers adopt a wait-and-see approach, appear to be a double whammy for airlines.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/1b5479c1-afp__20230508__33en7q3__v1__midres__switzerlandtransportaviation_cropped_1.webp\"){kind=spacer}
PARIS: Buffeted by six weeks of war in the Middle East, airlines have scrambled to trim routes and costs as fuel bills explode and wary clients think twice about their travel plans, a situation that could persist even if a fragile truce holds.
\nCarriers have largely halted flights in the Gulf region, with Air France announcing this week that it was extending its suspensions until May 3 — a decision a source said was made before this week’s ceasefire between the United States and Iran.
\nWith no certainty that jet fuel prices will return to pre-war lows, chief executives are having to rethink expansion plans and plane orders.
\n“The airline sector is being hit with two simultaneous shocks: the steep rise in fuel prices, which is the biggest or second-biggest expense for a carrier, and a demand shock, with passengers deciding to wait and see,” said Paul Chiambaretto, a professor and aviation expert at the Montpellier Business School in France.
\nJet fuel, which cost around US$830 a ton before the war erupted, surpassed US$1,800 a ton in early April, and was still at US$1,786 on Wednesday.
\n“It’s absolutely colossal,” Pascal de Izaguirre, president of the French aviation federation (FNAM), told business daily La Tribune published Tuesday.
\nHe said fuel usually represents 25 percent to 30 percent of an airline’s operating costs, but at current prices it now accounts for 45 percent.
\nSticky surcharges?
\nTo maintain profitability, ticket prices have been hiked and some routes where planes are not routinely full have been suspended or scrapped indefinitely.
\nVietnam Airlines went so far as to cancel around 20 domestic flights per week starting in April, because of a lack of jet fuel.
\nMany airlines have already imposed fuel surcharges that could prove sticky, especially if they do not lead to marked declines in ticket sales in the coming months.
\nDe Izaguirre said that while fuel surcharges so far are “far too low” to offset the higher costs, “airlines are afraid of a negative impact if the increases become too excessive”.
\nBut Hong Kong aviation giant Cathay Pacific has raised its surcharges several times since February, even as it announced extra flights to Europe for what it called an “upsurge in market demand”.
\nIndustry executives are wondering if the Middle East turmoil will prompt people to change their travel plans over the longer term, possibly balancing out the impact of regional route suspensions.
\nSome carriers say they do not plan on resuming flights to the Middle East until October.
\nAnd if oil prices stay high and lead to widespread inflation that crimps spending power, both businesses and individuals could decide to limit spending on airline tickets.
\nRyanair boss Michael O’Leary said last month that flying habits are already shifting.
\n“I think the people who were originally planning to either go to the Middle East or overfly the Middle East for their Easter school holidays are switching now and coming back to Portugal, Spain, South France, Italy, Greece,” he told AFP at a European airline association meeting in Brussels.
\nA new normal?
\nThe outbreak of war also wreaks havoc on the business model of massive hubs in the Middle East, which rely on a steady stream of passengers on long-haul flights to and from the Americas, Europe and Asia.
\nAirports in Dubai, Doha and Abu Dhabi have been forced to close because of Tehran’s retaliatory strikes across the region, resulting in tens of thousands of flights cancelled, affecting millions of passengers.
\nBefore the war, Dubai was the world’s second-biggest airport in terms of passengers transiting, after Atlanta, while Doha had passenger levels rivalling those of Hong Kong or Frankfurt.
\nSince then, European and Asian carriers that have long-distance planes available have started direct flights between the two regions, bypassing Gulf hubs altogether.
\nEven after reopening, the airports are unlikely to return to full capacity anytime soon, and only if fuel prices recede as hoped.
\nWillie Walsh, director of the International Air Transport Association (IATA), warned this week that if the ceasefire succeeds, it will still take months for jet fuel supplies and prices to normalise.
\n“I don’t think it’s going to happen in weeks,” Walsh said.
\n","content_text":"PARIS: Buffeted by six weeks of war in the Middle East, airlines have scrambled to trim routes and costs as fuel bills explode and wary clients think twice about their travel plans, a situation that could persist even if a fragile truce holds.\nCarriers have largely halted flights in the Gulf region, with Air France announcing this week that it was extending its suspensions until May 3 - a decision a source said was made before this week's ceasefire between the United States and Iran.\nWith no certainty that jet fuel prices will return to pre-war lows, chief executives are having to rethink expansion plans and plane orders.\n\"The airline sector is being hit with two simultaneous shocks: the steep rise in fuel prices, which is the biggest or second-biggest expense for a carrier, and a demand shock, with passengers deciding to wait and see,\" said Paul Chiambaretto, a professor and aviation expert at the Montpellier Business School in France.\nJet fuel, which cost around US$830 a ton before the war erupted, surpassed US$1,800 a ton in early April, and was still at US$1,786 on Wednesday.\n\"It's absolutely colossal,\" Pascal de Izaguirre, president of the French aviation federation (FNAM), told business daily La Tribune published Tuesday.\nHe said fuel usually represents 25 percent to 30 percent of an airline's operating costs, but at current prices it now accounts for 45 percent.\nSticky surcharges? \nTo maintain profitability, ticket prices have been hiked and some routes where planes are not routinely full have been suspended or scrapped indefinitely.\nVietnam Airlines went so far as to cancel around 20 domestic flights per week starting in April, because of a lack of jet fuel.\nMany airlines have already imposed fuel surcharges that could prove sticky, especially if they do not lead to marked declines in ticket sales in the coming months.\nDe Izaguirre said that while fuel surcharges so far are \"far too low\" to offset the higher costs, \"airlines are afraid of a negative impact if the increases become too excessive\".\nBut Hong Kong aviation giant Cathay Pacific has raised its surcharges several times since February, even as it announced extra flights to Europe for what it called an \"upsurge in market demand\".\nIndustry executives are wondering if the Middle East turmoil will prompt people to change their travel plans over the longer term, possibly balancing out the impact of regional route suspensions.\nSome carriers say they do not plan on resuming flights to the Middle East until October.\nAnd if oil prices stay high and lead to widespread inflation that crimps spending power, both businesses and individuals could decide to limit spending on airline tickets.\nRyanair boss Michael O'Leary said last month that flying habits are already shifting.\n\"I think the people who were originally planning to either go to the Middle East or overfly the Middle East for their Easter school holidays are switching now and coming back to Portugal, Spain, South France, Italy, Greece,\" he told AFP at a European airline association meeting in Brussels.\nA new normal?\nThe outbreak of war also wreaks havoc on the business model of massive hubs in the Middle East, which rely on a steady stream of passengers on long-haul flights to and from the Americas, Europe and Asia.\nAirports in Dubai, Doha and Abu Dhabi have been forced to close because of Tehran's retaliatory strikes across the region, resulting in tens of thousands of flights cancelled, affecting millions of passengers.\nBefore the war, Dubai was the world's second-biggest airport in terms of passengers transiting, after Atlanta, while Doha had passenger levels rivalling those of Hong Kong or Frankfurt.\nSince then, European and Asian carriers that have long-distance planes available have started direct flights between the two regions, bypassing Gulf hubs altogether.\nEven after reopening, the airports are unlikely to return to full capacity anytime soon, and only if fuel prices recede as hoped.\nWillie Walsh, director of the International Air Transport Association (IATA), warned this week that if the ceasefire succeeds, it will still take months for jet fuel supplies and prices to normalise.\n\"I don't think it's going to happen in weeks,\" Walsh said.","date_published":"2026-04-09T11:47:11.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","airlines","aviation","Disruptions","fear","Iran","Israel","long-term","Middle East","truce","US","war"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/1b5479c1-afp__20230508__33en7q3__v1__midres__switzerlandtransportaviation_cropped_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/1b5479c1-afp__20230508__33en7q3__v1__midres__switzerlandtransportaviation_cropped_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/ringgit-ends-lower-amid-us-iran-ceasefire-concerns","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/ringgit-ends-lower-amid-us-iran-ceasefire-concerns","title":"Ringgit ends lower amid US-Iran ceasefire concerns","summary":"Investors are expected to adopt a more defensive trading strategy, says analyst.","content_html":"![\"Money](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/44931101-money-exchange_week-2-2025-new-090426-1.webp\")
KUALA LUMPUR: The ringgit closed mostly higher against major currencies today, but eased slightly against the US dollar amid concerns over the durability of the ceasefire between the US and Iran.
\nBank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said Iran claimed there had been violations of the truce following Israel’s bombardment of Lebanese territory.
\n“Consequently, West Texas Intermediate and Brent crude prices rose by around 3.47% and 3.63% to US$97.69 (RM389.10) per barrel and US$98.19 (RM391.09) per barrel, respectively.
\n“As such, risk aversion persists, leading traders and investors to adopt a more defensive trading strategy,” he told Bernama.
\nAt 6pm, the local currency edged down to 3.9795/3.9845 against the greenback from 3.9735/3.9785 at yesterday’s close.
\nAt the close, the ringgit traded mostly higher against a basket of major currencies.
\nIt rose against the British pound to 5.3337/5.3404 from 5.3348/5.3415 and improved against the Japanese yen to 2.5028/2.5061 from 2.5071/2.5104. Meanwhile, it fell against the euro to 4.6457/4.6515 from 4.6407/4.6465.
\nAt the same time, the local currency traded mostly higher against Asean currencies.
\nIt was higher versus the Indonesian rupiah to 232.8/233.2 from 233.5/233.9, increased against the Thai baht to 12.3976/12.4201 from 12.4056/12.4282, and rose against the Philippine peso to 6.66/6.67 from 6.68/6.70.
\nHowever, the ringgit was lower against the Singapore dollar, at 3.1204/3.1246, compared with 3.1155/3.1199 previously.
\n","content_text":"KUALA LUMPUR: The ringgit closed mostly higher against major currencies today, but eased slightly against the US dollar amid concerns over the durability of the ceasefire between the US and Iran.\nBank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said Iran claimed there had been violations of the truce following Israel’s bombardment of Lebanese territory.\n“Consequently, West Texas Intermediate and Brent crude prices rose by around 3.47% and 3.63% to US$97.69 (RM389.10) per barrel and US$98.19 (RM391.09) per barrel, respectively.\n“As such, risk aversion persists, leading traders and investors to adopt a more defensive trading strategy,” he told Bernama.\nAt 6pm, the local currency edged down to 3.9795/3.9845 against the greenback from 3.9735/3.9785 at yesterday’s close.\nAt the close, the ringgit traded mostly higher against a basket of major currencies.\nIt rose against the British pound to 5.3337/5.3404 from 5.3348/5.3415 and improved against the Japanese yen to 2.5028/2.5061 from 2.5071/2.5104. Meanwhile, it fell against the euro to 4.6457/4.6515 from 4.6407/4.6465.\nAt the same time, the local currency traded mostly higher against Asean currencies.\nIt was higher versus the Indonesian rupiah to 232.8/233.2 from 233.5/233.9, increased against the Thai baht to 12.3976/12.4201 from 12.4056/12.4282, and rose against the Philippine peso to 6.66/6.67 from 6.68/6.70.\nHowever, the ringgit was lower against the Singapore dollar, at 3.1204/3.1246, compared with 3.1155/3.1199 previously.","date_published":"2026-04-09T11:13:53.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Afzanizam Rashid","brent crude","ceasefire","closing","currencies","durability","FMTBizMarket","Lebanon","Middle East","oil prices","Ringgit","US dollar","West Asia","WTI"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/44931101-money-exchange_week-2-2025-new-090426-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/44931101-money-exchange_week-2-2025-new-090426-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/bursa-falls-as-doubts-grow-over-us-iran-truce","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/bursa-falls-as-doubts-grow-over-us-iran-truce","title":"Bursa falls as doubts grow over US-Iran truce","summary":"Domestic market sentiment has turned cautious again as early signs of strain in the Gulf ceasefire emerge, says an analyst.","content_html":"![\"Bursa\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ac84a6ff-bursa-d2-1600x1000-new-090426-1.webp\")
KUALA LUMPUR: Bursa Malaysia closed lower today, tracking weaker performance among regional peers.
\nThe relief rally spurred by yesterday’s ceasefire quickly lost momentum as investors reassessed the credibility and sustainability of the US-Iran truce.
\nRakuten Trade Sdn Bhd vice-president of equity research, Thong Pak Leng, said market sentiment in the domestic front has turned cautious again as early signs of strain in the Gulf ceasefire began to emerge.
\nHe said the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped towards the key 1,680 support area, with selling pressure evident across broader market segments.
\n“While the index has managed to hold above this critical level for now, the lack of strong buying conviction and continued external uncertainties suggest that upside momentum remains limited.
\n“In the meantime, we expect market volatility to stay elevated as investors closely monitor developments in the Middle East and movements in crude oil prices,” Thong said.
\nIn the absence of clear positive catalysts, he expected the FBM KLCI to remain range-bound, with a cautious tone in the near-term.
\nMeanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said market positioning turned more cautious today with banking stocks leading the decline.
\nThe scenario suggested that investors were beginning to internalise the broader macroeconomic implications of the Middle East conflict, particularly through the inflation and growth channels.
\n“With oil prices still holding above US$90 (RM358.47) per barrel and the crisis now stretching into its sixth week, second-round effects are beginning to materialise,” he told Bernama.
\nBursa moved in tandem with most of its regional peers.
\nAt 5pm, the FBM KLCI declined 10.07 points to 1,686.24 from yesterday’s close of 1,696.31.
\nThe benchmark index, which opened 3.66 points lower at 1,692.65, moved between 1,680.01 and 1,692.65 during the day.
\nIn the broader market, losers trounced gainers 651 to 430, while 540 counters were unchanged, 1,087 untraded and 12 suspended.
\nTurnover eased to 3.05 billion units worth RM2.83 billion from Wednesday’s 3.77 billion units worth RM3.64 billion.
\nJapan’s Nikkei 225 Index fell 0.73% to 55,895.32, South Korea’s KOSPI declined 1.61% to 5,778.01, Singapore’s Straits Times Index went up 0.31% to 4,980.56 and Hong Kong’s Hang Seng Index eased 0.54% to 25,752.40.
\nAmong Bursa’s heavyweights, Tenaga Nasional advanced 6 sen to RM14.12, IHH Healthcare added 2 sen to RM8.83, Petronas Chemicals jumped 23 sen to RM5.82, Maybank declined 16 sen to RM11.16, Public Bank trimmed 10 sen to RM4.60 and CIMB went down 11 sen to RM7.45.
\nOn the most active list, Bumi Armada gained 2 sen to 37.5 sen, Top Glove climbed 5.5 sen to 79 sen, Borneo Oil was flat at 0.5 sen and Zetrix AI erased 1 sen to 75 sen.
\nAmong the top gainers, United Plantations strengthened by 42 sen to RM33.06, Kuala Lumpur Kepong surged 24 sen to RM22.20, Apollo Food rose 23 sen to RM5.94 and Petronas Gas jumped 22 sen to RM18.20.
\nAs for the top losers, Nestle slid 90 sen to RM100.10, Petronas Dagangan fell 58 sen to RM21.40, Ayer Holdings lost 35 sen to RM7.00 and PPB decreased 34 sen to RM11.86.
\nOn the index board, the FBM Top 100 Index contracted 53.36 points to 12,210.56, the FBM Emas Index fell 54.05 points to 12,358.88, the FBM Emas Shariah Index gained 16.50 points to 12,258.14, the FBM ACE Index added 47.72 points to 4,374.84 and the FBM Mid 70 Index rose 9.62 points to 17,198.35.
\nBy sector, the financial services index trimmed 290.45 points to 19,677.27, the plantation index moved up 72.68 points to 8,990.10, the industrial products and services index edged up 0.61 of a point to 184.48, and the energy index lifted 15.80 points to 813.74.
\nThe Main Market volume retreated to 1.92 billion units valued at RM2.63 billion versus 2.09 billion units valued at RM3.31 billion on Wednesday.
\nWarrants turnover shrank to 951.29 million units worth RM110.58 million versus 1.32 billion units worth RM160.31 million yesterday.
\nThe ACE Market volume decreased to 272.38 million units worth RM93.33 million from 357.92 million units valued at RM161.94 million previously.
\nConsumer products and services counters accounted for 182.92 million shares traded on the Main Market, industrial products and services (465.83 million), construction (168.65 million), technology (158.09 million), financial services (79.01 million), property (148.63 million), plantation (67.44 million), real estate investment trusts (14.75 million), closed-end fund (nil), energy (311.81 million), healthcare (233.95 million), telecommunications and media (28.23 million), transportation and logistics (35.20 million), utilities (34.01 million), and business trusts (35,500).
\n","content_text":"KUALA LUMPUR: Bursa Malaysia closed lower today, tracking weaker performance among regional peers.\nThe relief rally spurred by yesterday’s ceasefire quickly lost momentum as investors reassessed the credibility and sustainability of the US-Iran truce.\nRakuten Trade Sdn Bhd vice-president of equity research, Thong Pak Leng, said market sentiment in the domestic front has turned cautious again as early signs of strain in the Gulf ceasefire began to emerge.\nHe said the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped towards the key 1,680 support area, with selling pressure evident across broader market segments.\n“While the index has managed to hold above this critical level for now, the lack of strong buying conviction and continued external uncertainties suggest that upside momentum remains limited.\n“In the meantime, we expect market volatility to stay elevated as investors closely monitor developments in the Middle East and movements in crude oil prices,” Thong said.\nIn the absence of clear positive catalysts, he expected the FBM KLCI to remain range-bound, with a cautious tone in the near-term.\nMeanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said market positioning turned more cautious today with banking stocks leading the decline.\nThe scenario suggested that investors were beginning to internalise the broader macroeconomic implications of the Middle East conflict, particularly through the inflation and growth channels.\n“With oil prices still holding above US$90 (RM358.47) per barrel and the crisis now stretching into its sixth week, second-round effects are beginning to materialise,” he told Bernama.\nBursa moved in tandem with most of its regional peers.\nAt 5pm, the FBM KLCI declined 10.07 points to 1,686.24 from yesterday’s close of 1,696.31.\nThe benchmark index, which opened 3.66 points lower at 1,692.65, moved between 1,680.01 and 1,692.65 during the day.\nIn the broader market, losers trounced gainers 651 to 430, while 540 counters were unchanged, 1,087 untraded and 12 suspended.\nTurnover eased to 3.05 billion units worth RM2.83 billion from Wednesday’s 3.77 billion units worth RM3.64 billion.\nJapan’s Nikkei 225 Index fell 0.73% to 55,895.32, South Korea’s KOSPI declined 1.61% to 5,778.01, Singapore’s Straits Times Index went up 0.31% to 4,980.56 and Hong Kong’s Hang Seng Index eased 0.54% to 25,752.40.\nAmong Bursa’s heavyweights, Tenaga Nasional advanced 6 sen to RM14.12, IHH Healthcare added 2 sen to RM8.83, Petronas Chemicals jumped 23 sen to RM5.82, Maybank declined 16 sen to RM11.16, Public Bank trimmed 10 sen to RM4.60 and CIMB went down 11 sen to RM7.45.\nOn the most active list, Bumi Armada gained 2 sen to 37.5 sen, Top Glove climbed 5.5 sen to 79 sen, Borneo Oil was flat at 0.5 sen and Zetrix AI erased 1 sen to 75 sen.\nAmong the top gainers, United Plantations strengthened by 42 sen to RM33.06, Kuala Lumpur Kepong surged 24 sen to RM22.20, Apollo Food rose 23 sen to RM5.94 and Petronas Gas jumped 22 sen to RM18.20.\nAs for the top losers, Nestle slid 90 sen to RM100.10, Petronas Dagangan fell 58 sen to RM21.40, Ayer Holdings lost 35 sen to RM7.00 and PPB decreased 34 sen to RM11.86.\nOn the index board, the FBM Top 100 Index contracted 53.36 points to 12,210.56, the FBM Emas Index fell 54.05 points to 12,358.88, the FBM Emas Shariah Index gained 16.50 points to 12,258.14, the FBM ACE Index added 47.72 points to 4,374.84 and the FBM Mid 70 Index rose 9.62 points to 17,198.35.\nBy sector, the financial services index trimmed 290.45 points to 19,677.27, the plantation index moved up 72.68 points to 8,990.10, the industrial products and services index edged up 0.61 of a point to 184.48, and the energy index lifted 15.80 points to 813.74.\nThe Main Market volume retreated to 1.92 billion units valued at RM2.63 billion versus 2.09 billion units valued at RM3.31 billion on Wednesday.\nWarrants turnover shrank to 951.29 million units worth RM110.58 million versus 1.32 billion units worth RM160.31 million yesterday.\nThe ACE Market volume decreased to 272.38 million units worth RM93.33 million from 357.92 million units valued at RM161.94 million previously.\nConsumer products and services counters accounted for 182.92 million shares traded on the Main Market, industrial products and services (465.83 million), construction (168.65 million), technology (158.09 million), financial services (79.01 million), property (148.63 million), plantation (67.44 million), real estate investment trusts (14.75 million), closed-end fund (nil), energy (311.81 million), healthcare (233.95 million), telecommunications and media (28.23 million), transportation and logistics (35.20 million), utilities (34.01 million), and business trusts (35,500).","date_published":"2026-04-09T09:36:42.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Bursa closing","FBM KLCI","FMTBizMarket","Iran","Middle East","Nikkei 225","Sedek Jantan","Thong Pak Leng","truce","US"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ac84a6ff-bursa-d2-1600x1000-new-090426-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/ac84a6ff-bursa-d2-1600x1000-new-090426-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/stocks-slip-as-middle-east-truce-doubts-drive-up-oil","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/stocks-slip-as-middle-east-truce-doubts-drive-up-oil","title":"Stocks slip as Middle East truce doubts drive up oil","summary":"Ceasefire strains as Iran claims Hormuz closure, causing oil prices to rebound after sharp slide.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/22a0a77e-dstodk-exchange-frankfurt-epa-t-09_04_26.webp\")
LONDON: Share markets sagged on Thursday as cracks quickly began to appear in the fragile Gulf truce, nudging oil prices back up toward US$100 a barrel and reminding investors the inflationary fallout would last a long while yet.
\nCrucially, there was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
\nPresident Donald Trump took to social media to declare US forces would remain in the Gulf until a deal was reached and complied with, otherwise the “‘Shootin’ Starts,’ bigger, and better, and stronger than anyone has ever seen before.”
\nMeanwhile, Israel has carried out its heaviest strikes on Lebanon since its conflict with Iran-backed Hezbollah militia began last month, killing more than 250 people on Wednesday.
\nAs a result, Brent crude futures LCOc1 rose 2.5% to US$97.28 a barrel, US WTI futures CLc1 bounced 3.3% to US$97.55 and the pan-European STOXX 600 index opened 0.2% lower having leapt 3.7% on Wednesday following the ceasefire announcement.
\nUBP’s Head of Investment Services UK Peter Kinsella said the moves showed markets remained focused on trading headlines, although apart from the big swings in oil prices, he stressed volatility in most of the main currencies was still limited.
\n“It is very difficult for investors as they are dealing with a conflict where the protagonists don’t even know what they want,” Kinsella said.
\nEurope’s government bond yields – which drive the cost of borrowing – were also nudging higher again in early trading having plunged on Wednesday.
\nData from Germany showed industrial production fell unexpectedly in February, showing Europe’s largest economy was subdued and on course for another quarter of contraction even before the Iran war.
\nOvernight in Asia, Japan’s Nikkei had ended 0.7% lower after jumping 5.4% the previous session. South Korea dipped 1.6%, following a leap of 6.8%.
\nChinese blue chips also slipped 0.6%, while MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.7%.
\nOn Wall Street, S&P 500 futures ESc1 and Nasdaq futures NQc1 were both off around 0.4% ahead of their restart later.
\nWith oil prices still around 40% higher than pre-conflict, an inflationary spike is about to show up in the hard data across the globe.
\nFigures on US core prices for February due later Thursday are expected to show a chunky 0.4% rise for a second month, and that was before the surge in energy costs.
\nState Street’s PriceStats’ inflation metrics meanwhile show March has seen the biggest month-on-month increase in prices since at least 2008 when its data series began, according to its head of Macro Strategy Michael Metcalfe.
\nMinutes from the Federal Reserve’s last policy meeting on Wednesday showed a growing number of members felt a rate hike might be needed to contain inflation, though many hoped the next move would still be a cut.
\nThat tempered a rally in Treasuries, which proved modest compared to the big gains seen in European debt markets on Wednesday. Yields on US 10-year notes sat at 4.296%, compared to 3.96% before the attack on Iran.
\nFed fund futures imply only 6 basis points of easing for the rest of this year, having given up on 50 basis points of cuts since the end of February. Europe’s money markets though still, by contrast, price in at least two ECB rate hikes this year.
\n“The committee broadly agreed that it was too early to act, suggesting the Fed will likely remain on hold this year, in line with our view,” said analysts at JPMorgan in a note.
\nThe shifting outlook for rates saw the dollar pare some of its knee-jerk losses, with the dollar index at 99.06 and the euro flat at US$1.1660 and off its previous day’s top of US$1.1721.
\nThe dollar inched up to 158.93 yen, having fallen as far as 157.89 at one stage on Wednesday.
\nIn commodity markets, gold inched back to US$4,713 an ounce, after bouncing as high as US$4,777 while European natural gas prices rebounded to 45.65 euros per megawatt hour (MWh) although the move was far more modest than in oil markets. GOL/
\n","content_text":"LONDON: Share markets sagged on Thursday as cracks quickly began to appear in the fragile Gulf truce, nudging oil prices back up toward US$100 a barrel and reminding investors the inflationary fallout would last a long while yet.\nCrucially, there was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.\nPresident Donald Trump took to social media to declare US forces would remain in the Gulf until a deal was reached and complied with, otherwise the \"'Shootin’ Starts,' bigger, and better, and stronger than anyone has ever seen before.\"\nMeanwhile, Israel has carried out its heaviest strikes on Lebanon since its conflict with Iran-backed Hezbollah militia began last month, killing more than 250 people on Wednesday.\nAs a result, Brent crude futures LCOc1 rose 2.5% to US$97.28 a barrel, US WTI futures CLc1 bounced 3.3% to US$97.55 and the pan-European STOXX 600 index opened 0.2% lower having leapt 3.7% on Wednesday following the ceasefire announcement.\nUBP's Head of Investment Services UK Peter Kinsella said the moves showed markets remained focused on trading headlines, although apart from the big swings in oil prices, he stressed volatility in most of the main currencies was still limited.\n\"It is very difficult for investors as they are dealing with a conflict where the protagonists don't even know what they want,\" Kinsella said.\nEurope's government bond yields - which drive the cost of borrowing - were also nudging higher again in early trading having plunged on Wednesday.\nData from Germany showed industrial production fell unexpectedly in February, showing Europe's largest economy was subdued and on course for another quarter of contraction even before the Iran war.\nOvernight in Asia, Japan's Nikkei had ended 0.7% lower after jumping 5.4% the previous session. South Korea dipped 1.6%, following a leap of 6.8%.\nChinese blue chips also slipped 0.6%, while MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.7%.\nOn Wall Street, S&P 500 futures ESc1 and Nasdaq futures NQc1 were both off around 0.4% ahead of their restart later.\nWith oil prices still around 40% higher than pre-conflict, an inflationary spike is about to show up in the hard data across the globe.\nFigures on US core prices for February due later Thursday are expected to show a chunky 0.4% rise for a second month, and that was before the surge in energy costs.\nState Street's PriceStats' inflation metrics meanwhile show March has seen the biggest month-on-month increase in prices since at least 2008 when its data series began, according to its head of Macro Strategy Michael Metcalfe.\nMinutes from the Federal Reserve's last policy meeting on Wednesday showed a growing number of members felt a rate hike might be needed to contain inflation, though many hoped the next move would still be a cut.\nThat tempered a rally in Treasuries, which proved modest compared to the big gains seen in European debt markets on Wednesday. Yields on US 10-year notes sat at 4.296%, compared to 3.96% before the attack on Iran.\nFed fund futures imply only 6 basis points of easing for the rest of this year, having given up on 50 basis points of cuts since the end of February. Europe's money markets though still, by contrast, price in at least two ECB rate hikes this year.\n\"The committee broadly agreed that it was too early to act, suggesting the Fed will likely remain on hold this year, in line with our view,\" said analysts at JPMorgan in a note.\nThe shifting outlook for rates saw the dollar pare some of its knee-jerk losses, with the dollar index at 99.06 and the euro flat at US$1.1660 and off its previous day's top of US$1.1721.\nThe dollar inched up to 158.93 yen, having fallen as far as 157.89 at one stage on Wednesday.\nIn commodity markets, gold inched back to US$4,713 an ounce, after bouncing as high as US$4,777 while European natural gas prices rebounded to 45.65 euros per megawatt hour (MWh) although the move was far more modest than in oil markets. GOL/","date_published":"2026-04-09T09:27:09.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","doubts","Middle East","oil","slip","stocks","truce","up"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/22a0a77e-dstodk-exchange-frankfurt-epa-t-09_04_26.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/22a0a77e-dstodk-exchange-frankfurt-epa-t-09_04_26.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/air-france-extends-mideast-flight-suspensions-to-may-3","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/air-france-extends-mideast-flight-suspensions-to-may-3","title":"Air France extends Mideast flight suspensions to May 3","summary":"France’s flagship carrier says the flight suspension has been extended due to security risks from the war between the US, Israel and Iran.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/01/02939043-afp__20251224__88yk2en__v1__midres__francetransportaviationairfrance_cropped_1-1.webp\"){kind=spacer}
PARIS: Air France has extended the suspension of flights to key destinations in the Middle East until May 3, citing security risks from the war between the US and Israel and Iran.
\nMajor airlines have largely halted flights to the Middle East since the start of the war, triggered by US-Israeli strikes on Iran in late February.
\nA source close to the matter told AFP today that France’s flagship carrier had made the decision to extend the suspensions before the announcement of a fragile two-week ceasefire between Washington and Iran on Tuesday.
\n“The airline is obliged to extend the suspension of its flights to and from Tel Aviv, Beirut, Dubai and Riyadh until May 3, 2026 inclusive (or until May 4, 2026 for flights departing from Dubai),” Air France said in a statement on its website on Tuesday.
\n“The resumption of operations will remain subject to an assessment of the security situation on the ground, which is rapidly evolving,” the airline added.
\nIn late March, German aviation giant Lufthansa said all services across the Middle East were cancelled until the end of April, while Hong Kong carrier Cathay Pacific said it would extend its flight suspensions to and from Dubai and Riyadh by a month until May 31.
\n","content_text":"PARIS: Air France has extended the suspension of flights to key destinations in the Middle East until May 3, citing security risks from the war between the US and Israel and Iran.\nMajor airlines have largely halted flights to the Middle East since the start of the war, triggered by US-Israeli strikes on Iran in late February.\nA source close to the matter told AFP today that France's flagship carrier had made the decision to extend the suspensions before the announcement of a fragile two-week ceasefire between Washington and Iran on Tuesday.\n\"The airline is obliged to extend the suspension of its flights to and from Tel Aviv, Beirut, Dubai and Riyadh until May 3, 2026 inclusive (or until May 4, 2026 for flights departing from Dubai),\" Air France said in a statement on its website on Tuesday.\n\"The resumption of operations will remain subject to an assessment of the security situation on the ground, which is rapidly evolving,\" the airline added.\nIn late March, German aviation giant Lufthansa said all services across the Middle East were cancelled until the end of April, while Hong Kong carrier Cathay Pacific said it would extend its flight suspensions to and from Dubai and Riyadh by a month until May 31.","date_published":"2026-04-09T09:24:12.000Z","author":{"name":"AFP"},"tags":["World","Top World","Business","World Business","Top Business","AirFrance","aviation","Cathay Pacific","flights","lufthansa","Middle East","suspensions"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/01/02939043-afp__20251224__88yk2en__v1__midres__francetransportaviationairfrance_cropped_1-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/01/02939043-afp__20251224__88yk2en__v1__midres__francetransportaviationairfrance_cropped_1-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/germanys-exports-up-industrial-output-down-in-february","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/germanys-exports-up-industrial-output-down-in-february","title":"Germany’s exports up, industrial output down in February","summary":"Exports were up 3.6% in February compared with the previous month, according to data from the statistics agency Destatis.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/8ee9de4c-13005520_1600x1000_1.webp\")
FRANKFURT: Germany’s exports rebounded more strongly than expected in February, official data showed today, but there was a surprise slump in industrial production.
\nExports were up 3.6% compared with the previous month, according to preliminary data from statistics agency Destatis.
\nAnalysts surveyed by financial data platform FactSet had predicted a rise of just 0.5%.
\nExports to the EU were up 5.8%, while those to the US fell 7.5% and those to China were down 2.5%, due to US tariffs and fierce Chinese competition.
\nIndustrial production meanwhile was down 0.3% month-on-month in February, defying FactSet analysts’ predictions of a 0.6% increase.
\nThis decline was partly due to a 1.2% drop in the construction sector, which the economy ministry said was because of an “exceptionally severe cold spell” at the start of the month.
\n“The start of the year has been extremely sluggish for German industry,” said Elmar Voelker, an analyst at the bank LBBW, noting that “the fleeting hopes of a recovery that had emerged last autumn have evaporated for now”.
\nIndustrial orders, an indicator of future business activity, rose just 0.9% in February compared with the previous month.
\nThe economy ministry said recent surveys “point to a slowdown in industrial activity in the second quarter, given the heightened geopolitical uncertainty”.
\n“Future economic developments will therefore depend crucially on the course of the conflict in the Middle East,” it said.
\n","content_text":"FRANKFURT: Germany's exports rebounded more strongly than expected in February, official data showed today, but there was a surprise slump in industrial production.\nExports were up 3.6% compared with the previous month, according to preliminary data from statistics agency Destatis.\nAnalysts surveyed by financial data platform FactSet had predicted a rise of just 0.5%.\nExports to the EU were up 5.8%, while those to the US fell 7.5% and those to China were down 2.5%, due to US tariffs and fierce Chinese competition.\nIndustrial production meanwhile was down 0.3% month-on-month in February, defying FactSet analysts' predictions of a 0.6% increase.\nThis decline was partly due to a 1.2% drop in the construction sector, which the economy ministry said was because of an \"exceptionally severe cold spell\" at the start of the month.\n\"The start of the year has been extremely sluggish for German industry,\" said Elmar Voelker, an analyst at the bank LBBW, noting that \"the fleeting hopes of a recovery that had emerged last autumn have evaporated for now\".\nIndustrial orders, an indicator of future business activity, rose just 0.9% in February compared with the previous month.\nThe economy ministry said recent surveys \"point to a slowdown in industrial activity in the second quarter, given the heightened geopolitical uncertainty\".\n\"Future economic developments will therefore depend crucially on the course of the conflict in the Middle East,\" it said.","date_published":"2026-04-09T09:12:09.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","Economy","EU","exports","GDP","German","Germany","industrial production"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/8ee9de4c-13005520_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/8ee9de4c-13005520_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/imf-approves-us700mil-for-sri-lanka-warns-of-mideast-war-shock","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/imf-approves-us700mil-for-sri-lanka-warns-of-mideast-war-shock","title":"IMF approves US$700mil for Sri Lanka, warns of Mideast war shock","summary":"The organisation also called for Colombo to accelerate reforms to safeguard its post-2022 economic recovery and address shocks from the Middle East crisis.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/966bbae8-afp__20260315__a3bc9rj__v2__midres__srilankawariranusisraelenergyoil_cropped_1.webp\")
COLOMBO: The International Monetary Fund (IMF) approved a further US$700 million in loans for Sri Lanka today, while urging Colombo to accelerate reforms to guard its post-2022 economic recovery and address shocks from the Middle East crisis.
\nThe Fund’s mission approved the latest tranche of its four-year US$2.9 billion bailout, provided officials restore cost recovery in energy pricing, among other conditions.
\nThe government has said it will spend nearly US$200 million on fuel subsidies after an energy crunch caused by the Iran war forced it to raise retail prices by a third, in line with global trends.
\nThe IMF is opposed to general energy subsidies, and wants Colombo to ensure cost recovery in electricity prices, which are subsidised for smaller consumers.
\n“Sri Lanka is significantly exposed to the Middle East conflict, which has heightened energy prices, disrupted a key air hub for tourists, and affected Sri Lankans working in the region,” the IMF said in a statement.
\nIt emphasised the “urgency of accelerating reform momentum to safeguard macroeconomic stability”.
\nColombo had been on the verge of drawing an IMF instalment of US$340 million when it was hit in November by Cyclone Ditwah, the island’s worst natural disaster in two decades that killed at least 641 people and made thousands homeless.
\nThe World Bank estimated infrastructure damage at US$4.1 billion, and the government requested the IMF give it a US$206 million emergency loan for disaster relief instead.
\nSri Lanka’s economy suffered its worst recession in 2022, contracting 7.3%, when then-president Gotabaya Rajapaksa resigned after months of street protests.
\nThe leftist administration of president Anura Kumara Dissanayake, who came to power in late 2024, has retained many of the austerity measures and high taxes introduced by his predecessor.
\n","content_text":"COLOMBO: The International Monetary Fund (IMF) approved a further US$700 million in loans for Sri Lanka today, while urging Colombo to accelerate reforms to guard its post-2022 economic recovery and address shocks from the Middle East crisis.\nThe Fund's mission approved the latest tranche of its four-year US$2.9 billion bailout, provided officials restore cost recovery in energy pricing, among other conditions.\nThe government has said it will spend nearly US$200 million on fuel subsidies after an energy crunch caused by the Iran war forced it to raise retail prices by a third, in line with global trends.\nThe IMF is opposed to general energy subsidies, and wants Colombo to ensure cost recovery in electricity prices, which are subsidised for smaller consumers.\n\"Sri Lanka is significantly exposed to the Middle East conflict, which has heightened energy prices, disrupted a key air hub for tourists, and affected Sri Lankans working in the region,\" the IMF said in a statement.\nIt emphasised the \"urgency of accelerating reform momentum to safeguard macroeconomic stability\".\nColombo had been on the verge of drawing an IMF instalment of US$340 million when it was hit in November by Cyclone Ditwah, the island's worst natural disaster in two decades that killed at least 641 people and made thousands homeless.\nThe World Bank estimated infrastructure damage at US$4.1 billion, and the government requested the IMF give it a US$206 million emergency loan for disaster relief instead.\nSri Lanka's economy suffered its worst recession in 2022, contracting 7.3%, when then-president Gotabaya Rajapaksa resigned after months of street protests.\nThe leftist administration of president Anura Kumara Dissanayake, who came to power in late 2024, has retained many of the austerity measures and high taxes introduced by his predecessor.","date_published":"2026-04-09T08:12:44.000Z","author":{"name":"AFP"},"tags":["World","Top World","Business","World Business","Top Business","Anura Kumara Dissanayake","Cyclone Ditwah","disaster relief","Economy","fuel","IMF","Middle East","Sri Lanka"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/966bbae8-afp__20260315__a3bc9rj__v2__midres__srilankawariranusisraelenergyoil_cropped_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/966bbae8-afp__20260315__a3bc9rj__v2__midres__srilankawariranusisraelenergyoil_cropped_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/highlight/2026/04/09/malaysia-must-do-more-to-achieve-its-debt-reduction-goal","url":"https://www.freemalaysiatoday.com/category/highlight/2026/04/09/malaysia-must-do-more-to-achieve-its-debt-reduction-goal","title":"Malaysia must do more to achieve its debt reduction goal","summary":"World Bank says the government needs to run a budget surplus of 1% to achieve its debt-to-GDP target of 60% by 2030.","content_html":"![\"MOF\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/03/670ffa7c-mof-bernama-pic-18324.webp\")
PETALING JAYA: Malaysia will need to maintain a budget surplus if it is to achieve its longer-term debt reduction goal, according to the World Bank.
\nThe government’s Medium-Term Fiscal Framework projects national debt peaking at 65.8% of gross domestic product (GDP) in 2026 before gradually declining to 60% by 2030, in line with the Public Finance and Fiscal Responsibility Act target.
\nHowever, the bank said projections based on historical averages suggest debt could instead rise to 67.6% by 2030.
\n“World Bank staff estimates suggest that sustaining a primary surplus of around 1% of GDP during 2026–2028 would be needed to reach the 60% target earlier, pointing to the need for more ambitious fiscal adjustment than in the past decade,” its April 2026 Malaysia Economic Monitor report said.
\nThe government currently runs a fiscal deficit instead of a surplus. The bank noted the government achieved a better-than-estimated fiscal deficit at 3.7% of GDP last year, against its initial target of 3.8%, helped by stronger revenues despite continued spending pressures.
\nAs of September 2025, federal government debt stood at RM1.32 trillion or 65.3% of GDP.
\nThe bank said meeting current and future debt obligations “will require stronger fiscal outcomes than Malaysia has achieved historically”.
\nIt added that rebuilding fiscal capacity will require balanced efforts on “both expenditure restraint and revenue mobilisation”.
\n“On the expenditure side, fuel subsidy reforms underscore the government’s commitment to enhance spending efficiency, with further efficiency gains achievable through better targeting of beneficiaries under the RON95 subsidy scheme,” it said.
\nThe bank added that strengthening budget credibility remains essential to ensure that spending aligns with approved allocations and that resources are effectively directed toward priorities that support long-term inclusive growth.
\nOn the revenue side, reforms could focus on broadening the tax base, rationalising tax expenditures, and strengthening tax administration, building on measures implemented in recent years.
\nTotal government revenue was revised up to 16.6% of GDP in 2025, supported by increased sales and service tax (SST) collections following recent reforms.
\nThe increase offset the higher-than-budgeted operating expenditure at 16.3% of GDP, as subsidy and social assistance outlays exceeded initial projections, reflecting smaller-than-anticipated savings from the targeted RON95 subsidy rationalisation.
\n","content_text":"PETALING JAYA: Malaysia will need to maintain a budget surplus if it is to achieve its longer-term debt reduction goal, according to the World Bank.\nThe government's Medium-Term Fiscal Framework projects national debt peaking at 65.8% of gross domestic product (GDP) in 2026 before gradually declining to 60% by 2030, in line with the Public Finance and Fiscal Responsibility Act target.\nHowever, the bank said projections based on historical averages suggest debt could instead rise to 67.6% by 2030.\n“World Bank staff estimates suggest that sustaining a primary surplus of around 1% of GDP during 2026–2028 would be needed to reach the 60% target earlier, pointing to the need for more ambitious fiscal adjustment than in the past decade,” its April 2026 Malaysia Economic Monitor report said.\nThe government currently runs a fiscal deficit instead of a surplus. The bank noted the government achieved a better-than-estimated fiscal deficit at 3.7% of GDP last year, against its initial target of 3.8%, helped by stronger revenues despite continued spending pressures.\nAs of September 2025, federal government debt stood at RM1.32 trillion or 65.3% of GDP.\nThe bank said meeting current and future debt obligations “will require stronger fiscal outcomes than Malaysia has achieved historically”.\nIt added that rebuilding fiscal capacity will require balanced efforts on “both expenditure restraint and revenue mobilisation”.\n“On the expenditure side, fuel subsidy reforms underscore the government's commitment to enhance spending efficiency, with further efficiency gains achievable through better targeting of beneficiaries under the RON95 subsidy scheme,” it said.\nThe bank added that strengthening budget credibility remains essential to ensure that spending aligns with approved allocations and that resources are effectively directed toward priorities that support long-term inclusive growth.\nOn the revenue side, reforms could focus on broadening the tax base, rationalising tax expenditures, and strengthening tax administration, building on measures implemented in recent years.\nTotal government revenue was revised up to 16.6% of GDP in 2025, supported by increased sales and service tax (SST) collections following recent reforms.\nThe increase offset the higher-than-budgeted operating expenditure at 16.3% of GDP, as subsidy and social assistance outlays exceeded initial projections, reflecting smaller-than-anticipated savings from the targeted RON95 subsidy rationalisation.","date_published":"2026-04-09T08:00:57.000Z","author":{"name":"Lee Min Keong"},"tags":["Highlight","Business","Local Business","Top Business","fiscal deficit","FMTBiz Economy","GDP","national debt","RON95","World Bank"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/03/670ffa7c-mof-bernama-pic-18324.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/03/670ffa7c-mof-bernama-pic-18324.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/japan-weighs-new-release-of-about-20-days-worth-of-oil-from-reserves","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/japan-weighs-new-release-of-about-20-days-worth-of-oil-from-reserves","title":"Japan weighs new release of about 20 days’ worth of oil from reserves","summary":"With safe navigation in the Strait of Hormuz uncertain, an additional oil release from Japan's reserves is under consideration to stabilise supply.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/a4e2fa93-japan-energy-storage-afp-16_03_26.webp\")
TOKYO: Japan is considering a new release of about 20 days’ worth of oil reserves as early as May, Kyodo reported on Thursday, amid uncertainty over the reopening of the Strait of Hormuz despite a US-Iran ceasefire.
\nJapan, dependent on the Middle East for some 95% of its oil supply, began releasing oil from its stockpiles on March 16 in coordination with other nations and on its own.
\nIn total, Japan is making available about 50 days’ worth of oil consumption and has asked the International Energy Agency to consider a coordinated release of a second batch.
\nIt now has enough oil for 230 days in its reserves.
\nOn Tuesday, US President Donald Trump agreed to a two-week ceasefire with Iran on condition that Tehran reopened the Strait of Hormuz, but the vital waterway that normally carries about 20% of the world’s oil supply remains largely shut.
\nAs a resumption of safe navigation in the Strait of Hormuz is uncertain, an additional release of oil is under consideration to stabilise supply, Kyodo quoted an unnamed official as saying.
\nAsked about the report, Narumi Hosokawa, deputy director-general for immediate crisis management at the Ministry of Economy, Trade and Industry, told reporters the ministry continues to examine the situation.
\nWith less crude oil available, Japanese refineries cut utilisation rates to 67.7% of designed capacity in the week to April 4, the lowest since June.
\nTo help cope with the energy supply crisis, Japan has started searching for non-Middle Eastern barrels, rolled out gasoline subsidies and stepped up coal-fired generation to reduce the need for liquefied natural gas supplies, which have also been cut due to the closure of the Strait of Hormuz.
\nWhile Japan has secured enough crude oil and naphtha for the country as a whole, there are supply imbalances and distribution bottlenecks in some areas, a METI document released on Thursday said.
\n","content_text":"TOKYO: Japan is considering a new release of about 20 days' worth of oil reserves as early as May, Kyodo reported on Thursday, amid uncertainty over the reopening of the Strait of Hormuz despite a US-Iran ceasefire.\nJapan, dependent on the Middle East for some 95% of its oil supply, began releasing oil from its stockpiles on March 16 in coordination with other nations and on its own.\nIn total, Japan is making available about 50 days' worth of oil consumption and has asked the International Energy Agency to consider a coordinated release of a second batch.\nIt now has enough oil for 230 days in its reserves.\nOn Tuesday, US President Donald Trump agreed to a two-week ceasefire with Iran on condition that Tehran reopened the Strait of Hormuz, but the vital waterway that normally carries about 20% of the world's oil supply remains largely shut.\nAs a resumption of safe navigation in the Strait of Hormuz is uncertain, an additional release of oil is under consideration to stabilise supply, Kyodo quoted an unnamed official as saying.\nAsked about the report, Narumi Hosokawa, deputy director-general for immediate crisis management at the Ministry of Economy, Trade and Industry, told reporters the ministry continues to examine the situation.\nWith less crude oil available, Japanese refineries cut utilisation rates to 67.7% of designed capacity in the week to April 4, the lowest since June.\nTo help cope with the energy supply crisis, Japan has started searching for non-Middle Eastern barrels, rolled out gasoline subsidies and stepped up coal-fired generation to reduce the need for liquefied natural gas supplies, which have also been cut due to the closure of the Strait of Hormuz.\nWhile Japan has secured enough crude oil and naphtha for the country as a whole, there are supply imbalances and distribution bottlenecks in some areas, a METI document released on Thursday said.","date_published":"2026-04-09T06:28:26.000Z","author":{"name":"Reuters"},"tags":["World","Top World","Business","World Business","Top Business","20 days","Japan","New release","oil","reserves","weighs"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/a4e2fa93-japan-energy-storage-afp-16_03_26.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/a4e2fa93-japan-energy-storage-afp-16_03_26.webp"},{"id":"https://www.freemalaysiatoday.com/category/highlight/2026/04/09/world-bank-raises-malaysias-gdp-growth-to-4-4-despite-middle-east-crisis","url":"https://www.freemalaysiatoday.com/category/highlight/2026/04/09/world-bank-raises-malaysias-gdp-growth-to-4-4-despite-middle-east-crisis","title":"World Bank raises Malaysia’s GDP growth to 4.4% despite Middle East crisis","summary":"Its lead economist says Malaysia is entering the current crisis period from a position of strength.","content_html":"![\"KL](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/772378ae-kl-skyline-envatoelements-101025.webp\")
PETALING JAYA: The World Bank has raised its forecast for Malaysia’s 2026 economic growth to 4.4% from 4.1% despite rising tensions in the Middle East.
\nIts lead economist for Malaysia Apurva Sanghi said Malaysia enters this crisis period “mostly from a position of strength”.
\nHe cited Malaysia’s resilient macroeconomic fundamentals, even as downside risks from geopolitical conflicts, trade tensions and structural shifts in global supply chains cloud the economic outlook.
\nMalaysia’s economy grew by 5.2% last year on strong domestic demand and favourable exports. Bank Negara Malaysia has projected the economy to grow at between 4% and 5% in 2026.
\n\nApurva noted that the last two times Malaysia entered a crisis was at the eve of the Covid-19 pandemic in 2019, and the Russia-Ukraine war in 2022.
\nHe said on the eve of the pandemic, Malaysia’s gross domestic product (GDP) growth was 4.4% in 2019.
\n“Malaysia’s economic growth exceeded expectations in 2025. It’s above 5% today, above the regional average,” he said during a briefing on Part 1 of the World Bank’s April 2026 Malaysia Economic Monitor.
\nHe added that real income per capita was about RM43,000 in 2019 compared to about RM49,000 currently. In terms of the unemployment rate, he said it was 3.3% during the Covid-19 period while it is less than 3% today. However, inflation was 0.7% back then compared to 1.6% today.
\nApurva noted the country’s major macroeconomic metrics are healthier today compared to the previous crisis periods.
\nHe also said Malaysia is less exposed from a regional perspective. “Our assessment is that Malaysia is increasingly being seen as a safe haven for the region, reflecting strong fundamentals, growing fiscal discipline, and strong financial system performance,” he added.
\nHe said Malaysia’s economic growth in 2026 would be driven mainly by private consumption.
\n“We expect domestic demand to be strong this year because of favourable labour market dynamics, with real median wages rising by 6% last year, as well as continued government support where required.
\n“So private consumption is definitely a key contributor to growth,” he added.
\nApurva said investment momentum remains solid, with strong inflows for intermediate and capital goods, and continued foreign investment in key sectors such as information and communication technology, electrical and electronics, chemicals and data centres.
\nHe noted that near-term downside risks are mainly external, stemming from protracted conflict in the Middle East, persistent policy uncertainty, escalating trade restrictions, a sharper slowdown in China, tighter global financial conditions, or a downturn in the technology cycle.
\nTo strengthen resilience, he said Malaysia can deepen its trade openness by lowering barriers and accelerating targeted sectoral reforms.
\n“Together, these reforms would broaden Malaysia’s export base, reinforce supply chain integration, and better position the economy to withstand external shocks while capturing emerging trade opportunities,” he added.
\n","content_text":"PETALING JAYA: The World Bank has raised its forecast for Malaysia’s 2026 economic growth to 4.4% from 4.1% despite rising tensions in the Middle East.\nIts lead economist for Malaysia Apurva Sanghi said Malaysia enters this crisis period “mostly from a position of strength”.\nHe cited Malaysia’s resilient macroeconomic fundamentals, even as downside risks from geopolitical conflicts, trade tensions and structural shifts in global supply chains cloud the economic outlook.\nMalaysia’s economy grew by 5.2% last year on strong domestic demand and favourable exports. Bank Negara Malaysia has projected the economy to grow at between 4% and 5% in 2026.\n\nApurva noted that the last two times Malaysia entered a crisis was at the eve of the Covid-19 pandemic in 2019, and the Russia-Ukraine war in 2022.\nHe said on the eve of the pandemic, Malaysia’s gross domestic product (GDP) growth was 4.4% in 2019.\n“Malaysia’s economic growth exceeded expectations in 2025. It’s above 5% today, above the regional average,” he said during a briefing on Part 1 of the World Bank’s April 2026 Malaysia Economic Monitor.\nHe added that real income per capita was about RM43,000 in 2019 compared to about RM49,000 currently. In terms of the unemployment rate, he said it was 3.3% during the Covid-19 period while it is less than 3% today. However, inflation was 0.7% back then compared to 1.6% today.\nApurva noted the country’s major macroeconomic metrics are healthier today compared to the previous crisis periods.\nHe also said Malaysia is less exposed from a regional perspective. “Our assessment is that Malaysia is increasingly being seen as a safe haven for the region, reflecting strong fundamentals, growing fiscal discipline, and strong financial system performance,” he added.\nHe said Malaysia’s economic growth in 2026 would be driven mainly by private consumption.\n“We expect domestic demand to be strong this year because of favourable labour market dynamics, with real median wages rising by 6% last year, as well as continued government support where required.\n“So private consumption is definitely a key contributor to growth,” he added.\nApurva said investment momentum remains solid, with strong inflows for intermediate and capital goods, and continued foreign investment in key sectors such as information and communication technology, electrical and electronics, chemicals and data centres.\nHe noted that near-term downside risks are mainly external, stemming from protracted conflict in the Middle East, persistent policy uncertainty, escalating trade restrictions, a sharper slowdown in China, tighter global financial conditions, or a downturn in the technology cycle.\nTo strengthen resilience, he said Malaysia can deepen its trade openness by lowering barriers and accelerating targeted sectoral reforms.\n“Together, these reforms would broaden Malaysia’s export base, reinforce supply chain integration, and better position the economy to withstand external shocks while capturing emerging trade opportunities,” he added.","date_published":"2026-04-09T05:25:04.000Z","author":{"name":"Lee Min Keong"},"tags":["Highlight","Business","Local Business","Top Business","Apurva Sanghi","economic growth","FMTBiz Economy","GDP","Middle East crisis","World Bank"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/772378ae-kl-skyline-envatoelements-101025.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/772378ae-kl-skyline-envatoelements-101025.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/crude-rises-stocks-fall-on-fears-over-nascent-iran-ceasefire","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/crude-rises-stocks-fall-on-fears-over-nascent-iran-ceasefire","title":"Crude rises, stocks fall on fears over nascent Iran ceasefire","summary":"Oil prices rose about 3% on Thursday as fears of a ceasefire collapse threatened crude flows through the Strait of Hormuz.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/d1c52a24-china-hong-kong-stock-market.webp\")
HONG KONG: Oil prices climbed and stocks fell Thursday on fears over the nascent US-Iran ceasefire after Tehran threatened to resume hostilities after Israel launched a major bombardment of Lebanon.
\nEquity markets across the globe soared and crude plunged Wednesday after US President Donald Trump announced the two-week halt in the war, and the Islamic republic said it would reopen the Strait of Hormuz as peace talks took place.
\nBut with the deal less than a day old, cracks were already appearing as Tel Aviv said it did not include Israel’s fight against Iran-backed Hezbollah in Lebanon as it continued attacks on its northern neighbour.
\nThat view was echoed by Vice President JD Vance, who said: “If Iran wants to let this negotiation fall apart… over Lebanon, which has nothing to do with them, and which the United States never once said was part of the ceasefire, that’s ultimately their choice.”
\nIran said that broke terms of the deal as reports said the vital Hormuz waterway — through which a fifth of world oil and gas passes — was shut again. However, that came as Tehran announced alternative routes for ships travelling through the Strait, citing the risk of sea mines.
\nThe country’s parliament speaker Mohammad Bagher Ghalibaf posted on X that the “workable basis on which to negotiate” had already been violated, making further talks “unreasonable”.
\nHe listed three alleged US violations of the truce plan: the continued attacks in Lebanon, a drone entering Iranian airspace and a denial of the country’s right to enrichment.
\nHezbollah said Thursday it had fired rockets towards Israel in response to its “violation”.
\nMeanwhile, a senior US official said Tehran’s 10-point plan was not the same set of conditions the White House had agreed to.
\nFears that the ceasefire could fall apart while crude remains stuck in Hormuz saw West Texas Intermediate oil jump around 3% Thursday, having plunged more than 16% the day before. Brent was up more than 2% following a 13% drop.
\nEquities also gave up some of their gains.
\nTokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul and Taipei were all down.
\nAttention is also turning to crunch talks in Pakistan that are expected on Friday or Saturday, with Vance leading the US delegation.
\n“Many questions remain with the 10-point plan that Trump has received from Iran (which includes Iranian control of the Strait of Hormuz, US acceptance of Iran’s uranium enrichment programme, the end of all sanctions and withdrawal of the US military from the Gulf region) is at odds with Trump’s 15-point peace plan,” wrote National Australia Bank’s Skye Masters.
\nStill, observers warned that an end to the conflict would not see a quick return to normal, with crude prices still elevated and key regional infrastructure targeted that could take billions of dollars and at least months to repair.
\nShipping journal Lloyd’s List estimated around 800 ships have been stuck in the Gulf since the end of February, when hostilities broke out.
\nStill, Forex analyst Fawad Razaqzada said: “Investors are confident that oil prices could ease further and the Strait of Hormuz will re-open again and hopefully stay open beyond the two-week ceasefire period.”
\n","content_text":"HONG KONG: Oil prices climbed and stocks fell Thursday on fears over the nascent US-Iran ceasefire after Tehran threatened to resume hostilities after Israel launched a major bombardment of Lebanon.\nEquity markets across the globe soared and crude plunged Wednesday after US President Donald Trump announced the two-week halt in the war, and the Islamic republic said it would reopen the Strait of Hormuz as peace talks took place.\nBut with the deal less than a day old, cracks were already appearing as Tel Aviv said it did not include Israel's fight against Iran-backed Hezbollah in Lebanon as it continued attacks on its northern neighbour.\nThat view was echoed by Vice President JD Vance, who said: \"If Iran wants to let this negotiation fall apart... over Lebanon, which has nothing to do with them, and which the United States never once said was part of the ceasefire, that's ultimately their choice.\"\nIran said that broke terms of the deal as reports said the vital Hormuz waterway - through which a fifth of world oil and gas passes - was shut again. However, that came as Tehran announced alternative routes for ships travelling through the Strait, citing the risk of sea mines.\nThe country's parliament speaker Mohammad Bagher Ghalibaf posted on X that the \"workable basis on which to negotiate\" had already been violated, making further talks \"unreasonable\".\nHe listed three alleged US violations of the truce plan: the continued attacks in Lebanon, a drone entering Iranian airspace and a denial of the country's right to enrichment.\nHezbollah said Thursday it had fired rockets towards Israel in response to its \"violation\".\nMeanwhile, a senior US official said Tehran's 10-point plan was not the same set of conditions the White House had agreed to.\nFears that the ceasefire could fall apart while crude remains stuck in Hormuz saw West Texas Intermediate oil jump around 3% Thursday, having plunged more than 16% the day before. Brent was up more than 2% following a 13% drop.\nEquities also gave up some of their gains.\nTokyo, Hong Kong, Shanghai, Sydney, Singapore, Seoul and Taipei were all down.\nAttention is also turning to crunch talks in Pakistan that are expected on Friday or Saturday, with Vance leading the US delegation.\n\"Many questions remain with the 10-point plan that Trump has received from Iran (which includes Iranian control of the Strait of Hormuz, US acceptance of Iran's uranium enrichment programme, the end of all sanctions and withdrawal of the US military from the Gulf region) is at odds with Trump's 15-point peace plan,\" wrote National Australia Bank's Skye Masters.\nStill, observers warned that an end to the conflict would not see a quick return to normal, with crude prices still elevated and key regional infrastructure targeted that could take billions of dollars and at least months to repair.\nShipping journal Lloyd's List estimated around 800 ships have been stuck in the Gulf since the end of February, when hostilities broke out.\nStill, Forex analyst Fawad Razaqzada said: \"Investors are confident that oil prices could ease further and the Strait of Hormuz will re-open again and hopefully stay open beyond the two-week ceasefire period.\"","date_published":"2026-04-09T03:02:48.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","ceasefire","markets","Middle East","oil prices","stocks","Strait of Hormuz"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/d1c52a24-china-hong-kong-stock-market.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/d1c52a24-china-hong-kong-stock-market.webp"},{"id":"https://www.freemalaysiatoday.com/category/nation/2026/04/09/tycoon-syed-mokhtar-said-to-be-mulling-property-company-ipo","url":"https://www.freemalaysiatoday.com/category/nation/2026/04/09/tycoon-syed-mokhtar-said-to-be-mulling-property-company-ipo","title":"Tycoon Syed Mokhtar said to be mulling property company IPO","summary":"The Johor-based WM Senibong may be seeking an over RM2 billion valuation with the public listing.","content_html":"![\"Syed](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/4015db0b-syed-mokhtar-albukhary-bernama-261125-1.webp\")
PETALING JAYA: Australian developer Walker Corp and Malaysian tycoon Syed Mokhtar Al-Bukhary are considering an initial public offering (IPO) of their joint venture to raise as much as RM500 million (US$125 million), according to people familiar with the matter.
\nWM Senibong Bhd, which develops property including luxury homes in Johor, is working with financial advisers on a plan and may seek a valuation of more than RM2 billion in a listing in Kuala Lumpur next year, the people said, asking not to be identified because the information is private.
\nConsiderations are ongoing, and details like IPO size and timing may change, the people said. WM Senibong and Walker didn’t respond to requests for comment.
\nJohor, which borders Singapore, became Malaysia’s top investment destination last year following the establishment of a special economic zone.
\n\nA large landbank, space constraints in Singapore, a favourable exchange rate, and a planned cross-border rail shuttle have increased the appeal of Johor homes.
\nMalaysia’s stock exchange has seen a pick-up in activity, boosted by Sunway Healthcare Holdings Bhd’s nearly RM3 billion debut last month, the country’s biggest IPO in nine years.
\nWM Senibong, established in 2008, reported that its sales topped RM4 billion last year.
\nWalker is its biggest shareholder with a holding of 49%, while entities controlled by Syed Mokhtar have significant minority stakes.
\n","content_text":"PETALING JAYA: Australian developer Walker Corp and Malaysian tycoon Syed Mokhtar Al-Bukhary are considering an initial public offering (IPO) of their joint venture to raise as much as RM500 million (US$125 million), according to people familiar with the matter.\nWM Senibong Bhd, which develops property including luxury homes in Johor, is working with financial advisers on a plan and may seek a valuation of more than RM2 billion in a listing in Kuala Lumpur next year, the people said, asking not to be identified because the information is private.\nConsiderations are ongoing, and details like IPO size and timing may change, the people said. WM Senibong and Walker didn’t respond to requests for comment.\nJohor, which borders Singapore, became Malaysia’s top investment destination last year following the establishment of a special economic zone.\n\nA large landbank, space constraints in Singapore, a favourable exchange rate, and a planned cross-border rail shuttle have increased the appeal of Johor homes.\nMalaysia’s stock exchange has seen a pick-up in activity, boosted by Sunway Healthcare Holdings Bhd’s nearly RM3 billion debut last month, the country’s biggest IPO in nine years.\nWM Senibong, established in 2008, reported that its sales topped RM4 billion last year.\nWalker is its biggest shareholder with a holding of 49%, while entities controlled by Syed Mokhtar have significant minority stakes.","date_published":"2026-04-09T02:36:36.000Z","author":{"name":"Bloomberg"},"tags":["Highlight","Top News","Malaysia","Business","Local Business","Top Business","IPO","property","Syed Mokhtar Al-Bukhary","Walker Corp","WM Senibong"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/4015db0b-syed-mokhtar-albukhary-bernama-261125-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/4015db0b-syed-mokhtar-albukhary-bernama-261125-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/wsj-reports-disney-plans-to-cut-1000-jobs","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/wsj-reports-disney-plans-to-cut-1000-jobs","title":"WSJ reports Disney plans to cut 1,000 jobs","summary":"Cost-cutting efforts will impact the marketing department amid a newly created company-wide commercial organisation.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/eb75c446-walt-disney-epa-020226.webp\")
FLORIDA: Walt Disney is planning to cut as many as 1,000 positions in the coming weeks, many of which will be made in the company’s marketing department, the Wall Street Journal reported on Wednesday, citing sources.
\nThe Journal said that plans for the coming job cuts began before Josh D’Amaro assumed his new role as Disney’s chief executive officer in March.
\nThe planned layoffs could affect less than 1% of its total employees. Disney employed about 231,000 people as of the end of fiscal year 2025.
\nDisney’s newly appointed chief marketing officer, Asad Ayaz, also plans to unite the company’s marketing group and reduce expenses under code-named Project Imagine, the report added. Ayaz began to oversee a newly created company-wide marketing organisation in January.
\nReuters could not immediately verify the report. Disney did not immediately respond to a Reuters request for comment outside regular business hours.
\n","content_text":"FLORIDA: Walt Disney is planning to cut as many as 1,000 positions in the coming weeks, many of which will be made in the company's marketing department, the Wall Street Journal reported on Wednesday, citing sources.\nThe Journal said that plans for the coming job cuts began before Josh D'Amaro assumed his new role as Disney's chief executive officer in March.\nThe planned layoffs could affect less than 1% of its total employees. Disney employed about 231,000 people as of the end of fiscal year 2025.\nDisney's newly appointed chief marketing officer, Asad Ayaz, also plans to unite the company's marketing group and reduce expenses under code-named Project Imagine, the report added. Ayaz began to oversee a newly created company-wide marketing organisation in January.\nReuters could not immediately verify the report. Disney did not immediately respond to a Reuters request for comment outside regular business hours.","date_published":"2026-04-09T02:25:56.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","layoffs","marketing","Wall Street Journal","Walt Disney"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/eb75c446-walt-disney-epa-020226.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/eb75c446-walt-disney-epa-020226.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/bursa-opens-lower-despite-upbeat-wall-street","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/bursa-opens-lower-despite-upbeat-wall-street","title":"Bursa opens lower despite upbeat Wall Street","summary":"The main index declines 10.58 points to 1,685.73 as selling activity outweighs buying interest.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/0ef29059-bursa.webp\")
KUALA LUMPUR: Bursa Malaysia opened lower on Thursday despite positive Wall Street performance overnight.
\nAt 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.58 points, or 0.62%, to 1,685.73, from Wednesday’s close of 1,696.31.
\nThe benchmark index opened 3.66 points easier at 1,692.65.
\nMarket breadth was negative, with 204 decliners outpacing 143 gainers. A total of 303 counters were unchanged, 2,058 untraded, and 12 suspended.
\nTurnover stood at 314.62 million shares worth RM205.75 million.
\nIn a note today, Malacca Securities Sdn Bhd believed buying interest might sustain on the local bourse amid the positive overnight performance on Wall Street.
\nWith Brent oil prices hovering below US$100 per barrel (US$1=RM3.97), the brokerage anticipated that positive sentiment would extend within the aviation and consumer sectors.
\nAt the time of writing, Brent crude rose 3.08% to US$97.67 per barrel.
\nAmong heavyweights, Petronas Chemicals jumped 14 sen to RM5.73, MISC was flat at RM8.30, Maybank and TNB trimmed 10 sen each to RM11.22 and RM13.96, respectively, while Public Bank shed four sen to RM4.66.
\nOn the most active list, Hibiscus Petroleum increased six sen to RM2, Tanco grew one sen to RM1.66, Zetrix AI and TWL were flat at 76 sen and 2.5 sen, respectively, while MMAG and VS Industry went down half-a-sen each to three sen and 19 sen, respectively.
\nAmong top gainers, Fraser & Neave advanced 36 sen to RM29.76, United Plantations strengthened by 20 sen to RM32.84, Allianz firmed 18 sen to RM21.16, and AEON Credit went up eight sen to RM5.75.
\nTop losers included Nestle, which contracted RM1.66 to RM99.34, Petronas Dagangan shedding 90 sen to RM21.08, PPB dwindling 24 sen to RM11.96, and Kuala Lumpur Kepong shaving 20 sen to RM21.76.
\nOn the index board, the FBM Top 100 Index reduced 63.77 points to 12,200.15, the FBM Emas Index eased 61.02 points to 12,351.90, the FBM Mid 70 Index slid 34.04 points to 17,154.68, the FBM Emas Shariah Index went down 46.29 points to 12,195.35, and the FBM ACE Index decreased 13.15 points to 4,409.41.
\nBy sector, the Financial Services Index narrowed by 138.22 points to 19,829.50, the Industrial Products and Services Index added 0.46 of-a-point to 184.33, the Energy Index bagged 3.55 points to 801.49, and the Plantation Index declined 15.96 points to 8,901.45.
\n","content_text":"KUALA LUMPUR: Bursa Malaysia opened lower on Thursday despite positive Wall Street performance overnight.\nAt 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.58 points, or 0.62%, to 1,685.73, from Wednesday’s close of 1,696.31.\nThe benchmark index opened 3.66 points easier at 1,692.65.\nMarket breadth was negative, with 204 decliners outpacing 143 gainers. A total of 303 counters were unchanged, 2,058 untraded, and 12 suspended.\nTurnover stood at 314.62 million shares worth RM205.75 million.\nIn a note today, Malacca Securities Sdn Bhd believed buying interest might sustain on the local bourse amid the positive overnight performance on Wall Street.\nWith Brent oil prices hovering below US$100 per barrel (US$1=RM3.97), the brokerage anticipated that positive sentiment would extend within the aviation and consumer sectors.\nAt the time of writing, Brent crude rose 3.08% to US$97.67 per barrel.\nAmong heavyweights, Petronas Chemicals jumped 14 sen to RM5.73, MISC was flat at RM8.30, Maybank and TNB trimmed 10 sen each to RM11.22 and RM13.96, respectively, while Public Bank shed four sen to RM4.66.\nOn the most active list, Hibiscus Petroleum increased six sen to RM2, Tanco grew one sen to RM1.66, Zetrix AI and TWL were flat at 76 sen and 2.5 sen, respectively, while MMAG and VS Industry went down half-a-sen each to three sen and 19 sen, respectively.\nAmong top gainers, Fraser & Neave advanced 36 sen to RM29.76, United Plantations strengthened by 20 sen to RM32.84, Allianz firmed 18 sen to RM21.16, and AEON Credit went up eight sen to RM5.75.\nTop losers included Nestle, which contracted RM1.66 to RM99.34, Petronas Dagangan shedding 90 sen to RM21.08, PPB dwindling 24 sen to RM11.96, and Kuala Lumpur Kepong shaving 20 sen to RM21.76.\nOn the index board, the FBM Top 100 Index reduced 63.77 points to 12,200.15, the FBM Emas Index eased 61.02 points to 12,351.90, the FBM Mid 70 Index slid 34.04 points to 17,154.68, the FBM Emas Shariah Index went down 46.29 points to 12,195.35, and the FBM ACE Index decreased 13.15 points to 4,409.41.\nBy sector, the Financial Services Index narrowed by 138.22 points to 19,829.50, the Industrial Products and Services Index added 0.46 of-a-point to 184.33, the Energy Index bagged 3.55 points to 801.49, and the Plantation Index declined 15.96 points to 8,901.45.","date_published":"2026-04-09T01:51:25.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Bursa Malaysia","FBM KLCI","Malacca Securities","opening","Wall Street"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/0ef29059-bursa.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/0ef29059-bursa.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/dollar-steadies-as-fragile-us-iran-ceasefire-weighs-on-markets","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/dollar-steadies-as-fragile-us-iran-ceasefire-weighs-on-markets","title":"Dollar steadies as fragile US-Iran ceasefire weighs on markets","summary":"Investors assess whether the two-week truce will hold as Tehran accuses both Israel and the US of violating the deal.","content_html":"![\"Dollar\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/05/8cf9f2bb-dollar.jpg\")
TOKYO: The dollar caught its breath in early Thursday trade after broad losses, as investors anxiously assessed whether a fragile two-week ceasefire between the United States and Iran would hold.
\nThe dollar index which measures the greenback against a basket of currencies including the yen and the euro, rose 0.03% to 99.09, with the euro down 0.07% at US$1.1654.
\nThe yen also gave back some of the previous day’s gains, weakening 0.06% against the greenback to 158.7 per dollar. Sterling eased 0.04% to US$1.3387.
\nThe greenback sank to a one-month low on Wednesday after the announcement of the truce in the Middle East conflict.
\nStill, the deal appeared to be on thin ice, as Israel continued its parallel war against the Iran-aligned militia Hezbollah in Lebanon, while Tehran accused both Israel and the US of violating the agreement and said that proceeding with peace talks would be “unreasonable.”
\nThe Strait of Hormuz also remained shut to vessels sailing without a permit and shippers said they needed more clarity before resuming transit.
\n“Any signs that the ceasefire is breaking down, whether through renewed restrictions in the strait or spillover from regional conflicts like Lebanon, could push oil prices higher again, strengthen the US dollar and weigh on risk assets,” said Daniela Hathorn, senior market analyst at capital.com.
\nThe dollar has been the major beneficiary of the Iran War among currencies, in part because the US is a net energy exporter and therefore less exposed to the economic hit that oil importers like Japan and many European countries might face.
\nThe five-week war has shaken investor confidence, triggering the largest disruption to global oil and gas supplies on record.
\nThe uneasy truce leaves Iran with greater leverage over shipping through the vital strait than before the conflict, analysts say, after president Donald Trump backed off from his threats to attack Iran’s civilian infrastructure.
\nThe US is set to release February personal spending and the PCE deflator on Thursday. Despite improved sentiment following the ceasefire agreement, the dollar-yen pair may remain range-bound in Tokyo trading, although strong US data could trigger a rebound in the dollar, Akihiko Yokoo, senior analyst at Mitsubishi UFJ Bank, said in a note.
\nBank of Japan governor Kazuo Ueda is expected to appear in the parliament from 0415 GMT on Thursday.
\nThe Australian dollar weakened 0.13% versus the greenback to US$0.7034. New Zealand’s kiwi eased 0.02% versus the greenback to US$0.5821.
\nIn cryptocurrencies, bitcoin fell 0.50% to US$71,018.20. Ethereum declined 0.96% to US$2,188.86.
\n","content_text":"TOKYO: The dollar caught its breath in early Thursday trade after broad losses, as investors anxiously assessed whether a fragile two-week ceasefire between the United States and Iran would hold.\nThe dollar index which measures the greenback against a basket of currencies including the yen and the euro, rose 0.03% to 99.09, with the euro down 0.07% at US$1.1654.\nThe yen also gave back some of the previous day's gains, weakening 0.06% against the greenback to 158.7 per dollar. Sterling eased 0.04% to US$1.3387.\nThe greenback sank to a one-month low on Wednesday after the announcement of the truce in the Middle East conflict.\nStill, the deal appeared to be on thin ice, as Israel continued its parallel war against the Iran-aligned militia Hezbollah in Lebanon, while Tehran accused both Israel and the US of violating the agreement and said that proceeding with peace talks would be \"unreasonable.\"\nThe Strait of Hormuz also remained shut to vessels sailing without a permit and shippers said they needed more clarity before resuming transit.\n\"Any signs that the ceasefire is breaking down, whether through renewed restrictions in the strait or spillover from regional conflicts like Lebanon, could push oil prices higher again, strengthen the US dollar and weigh on risk assets,\" said Daniela Hathorn, senior market analyst at capital.com.\nThe dollar has been the major beneficiary of the Iran War among currencies, in part because the US is a net energy exporter and therefore less exposed to the economic hit that oil importers like Japan and many European countries might face.\nThe five-week war has shaken investor confidence, triggering the largest disruption to global oil and gas supplies on record.\nThe uneasy truce leaves Iran with greater leverage over shipping through the vital strait than before the conflict, analysts say, after president Donald Trump backed off from his threats to attack Iran's civilian infrastructure.\nThe US is set to release February personal spending and the PCE deflator on Thursday. Despite improved sentiment following the ceasefire agreement, the dollar-yen pair may remain range-bound in Tokyo trading, although strong US data could trigger a rebound in the dollar, Akihiko Yokoo, senior analyst at Mitsubishi UFJ Bank, said in a note.\nBank of Japan governor Kazuo Ueda is expected to appear in the parliament from 0415 GMT on Thursday.\nThe Australian dollar weakened 0.13% versus the greenback to US$0.7034. New Zealand's kiwi eased 0.02% versus the greenback to US$0.5821.\nIn cryptocurrencies, bitcoin fell 0.50% to US$71,018.20. Ethereum declined 0.96% to US$2,188.86.","date_published":"2026-04-09T01:38:36.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","dollar","Iran","Middle East","Strait of Hormuz","US","war","Yen"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/05/8cf9f2bb-dollar.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/05/8cf9f2bb-dollar.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/asian-stocks-turn-cautious-as-reality-intrudes-in-gulf","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/asian-stocks-turn-cautious-as-reality-intrudes-in-gulf","title":"Asian stocks turn cautious as reality intrudes in Gulf","summary":"Oil prices rise back up as the Strait of Hormuz shows little sign of opening in any meaningful way as missile strikes continue.","content_html":"![\"Tokyo](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/59fb2f42-tokyo-market.jpg\")
SYDNEY: Asian share markets were in a more sober mood on Thursday as cracks quickly began to appear in the fragile Gulf ceasefire, nudging oil prices back up and reminding investors the inflationary fallout will last for a long time yet.
\nThere was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
\n“You have a fifth of the world’s oil supply moving through a corridor that is still effectively under the influence of one of the parties to the conflict,” said Nigel Green, CEO at deVere Group. “That’s not stability.”
\n“You don’t need a full blockade to move oil markets sharply higher again,” he added. “Missiles are still being launched in the Gulf, Israel is still engaged on another front, and yet markets are behaving as though the region has normalised.”
\nAs a result prices for US crude futures edged up 2.8% to US$96.99 a barrel, while Brent rose 2.1% to US$96.74.
\nJapan’s Nikkei dithered either side of flat, after jumping 5.4% the previous session. South Korea dipped 0.4%, following a leap of 6.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3%.
\nOn Wall Street, S&P 500 futures and Nasdaq futures were both off 0.2% as Wednesday’s surge petered out.
\nFor a mixed Europe, EUROSTOXX 50 futures inched up 0.1%, DAX futures fell 0.3% and FTSE futures rose 0.5%.
\nInflation is inevitable
\nWith oil prices still around 40% higher than pre-conflict, an inflationary spike is about to show up in the hard data across the globe.
\nFigures on US core prices for February due later Thursday are expected to show a chunky 0.4% rise for a second month, and that was before the surge in energy costs.
\nMinutes from the Federal Reserve’s last policy meeting showed a growing number of members felt a rate hike might be needed to contain inflation, though many hoped the next move would still be a cut.
\nThat tempered a rally in Treasuries, which proved modest compared to the big gains seen in European debt markets. Yields on US 10-year notes sat at 4.29%, compared to 3.96% before the attack on Iran.
\nFed fund futures imply only 7 basis points of easing for the rest of this year, having given up on 50 basis points of cuts since the end of February.
\n“The committee broadly agreed that it was too early to act, suggesting the Fed will likely remain on hold this year, in line with our view,” said analysts at JPMorgan in a note.
\nThey also saw risks shifting to just one rate hike from the European Central Bank this year, rather than two.
\nThe shifting outlook for rates saw the dollar pare some of its knee-jerk losses, with the euro flat at US$1.1660 and off a top of US$1.1721.
\nThe dollar steadied at 158.60 yen, having fallen as far as 157.89 at one stage on Wednesday.
\nIn commodity markets, gold was flat at US$4,718 an ounce, after bouncing as high as US$4,777 overnight.
\n","content_text":"SYDNEY: Asian share markets were in a more sober mood on Thursday as cracks quickly began to appear in the fragile Gulf ceasefire, nudging oil prices back up and reminding investors the inflationary fallout will last for a long time yet.\nThere was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.\n\"You have a fifth of the world's oil supply moving through a corridor that is still effectively under the influence of one of the parties to the conflict,\" said Nigel Green, CEO at deVere Group. \"That's not stability.\"\n\"You don't need a full blockade to move oil markets sharply higher again,\" he added. \"Missiles are still being launched in the Gulf, Israel is still engaged on another front, and yet markets are behaving as though the region has normalised.\"\nAs a result prices for US crude futures edged up 2.8% to US$96.99 a barrel, while Brent rose 2.1% to US$96.74.\nJapan's Nikkei dithered either side of flat, after jumping 5.4% the previous session. South Korea dipped 0.4%, following a leap of 6.8%. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3%.\nOn Wall Street, S&P 500 futures and Nasdaq futures were both off 0.2% as Wednesday's surge petered out.\nFor a mixed Europe, EUROSTOXX 50 futures inched up 0.1%, DAX futures fell 0.3% and FTSE futures rose 0.5%.\nInflation is inevitable\nWith oil prices still around 40% higher than pre-conflict, an inflationary spike is about to show up in the hard data across the globe.\nFigures on US core prices for February due later Thursday are expected to show a chunky 0.4% rise for a second month, and that was before the surge in energy costs.\nMinutes from the Federal Reserve's last policy meeting showed a growing number of members felt a rate hike might be needed to contain inflation, though many hoped the next move would still be a cut.\nThat tempered a rally in Treasuries, which proved modest compared to the big gains seen in European debt markets. Yields on US 10-year notes sat at 4.29%, compared to 3.96% before the attack on Iran.\nFed fund futures imply only 7 basis points of easing for the rest of this year, having given up on 50 basis points of cuts since the end of February.\n\"The committee broadly agreed that it was too early to act, suggesting the Fed will likely remain on hold this year, in line with our view,\" said analysts at JPMorgan in a note.\nThey also saw risks shifting to just one rate hike from the European Central Bank this year, rather than two.\nThe shifting outlook for rates saw the dollar pare some of its knee-jerk losses, with the euro flat at US$1.1660 and off a top of US$1.1721.\nThe dollar steadied at 158.60 yen, having fallen as far as 157.89 at one stage on Wednesday.\nIn commodity markets, gold was flat at US$4,718 an ounce, after bouncing as high as US$4,777 overnight.","date_published":"2026-04-09T01:18:22.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","Asian stocks","ceasefire","gulf","Iran","oil","US"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/59fb2f42-tokyo-market.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/59fb2f42-tokyo-market.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/ringgit-holds-firm-at-3-97-as-sentiment-improves","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/ringgit-holds-firm-at-3-97-as-sentiment-improves","title":"Ringgit holds firm at 3.97 as sentiment improves","summary":"The local currency rises to 3.9730/3.9915 on ceasefire optimism, lifting risk appetite.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/08/cf2fdad2-ringgit.webp\")
KUALA LUMPUR: The ringgit remained firmer at the 3.97 level against the US dollar and other major currencies at Thursday’s opening, supported by improved market optimism following the two-week ceasefire, which spurred risk-on sentiment.
\nAt 8am, the local currency rose to 3.9730/3.9915 against the greenback, compared with Wednesday’s close of 3.9735/3.9785.
\nBank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar index (DXY) continued to hover below 100, at 99.013 this morning, giving a 0.85% decline.
\nYesterday, the ringgit closed higher by 1.33% to 3.9735.
\nNevertheless, he said the situation remains fragile, as any breach of the ceasefire could shift market sentiment and potentially trigger a sudden spike in crude oil prices.
\n“Today, the USD/MYR could stay in a narrow range as traders and investors continue to observe the compliance with the ceasefire agreement,” he noted.
\nAt the opening, the ringgit strengthened against the Japanese yen to 2.5041/2.5159 from 2.5071/2.5104 at Wednesday’s close, appreciated against the euro to 4.6317/4.6533 from 4.6407/4.6465, and rose versus the British pound to 5.3202/5.3450 from 5.3348/5.3415.
\nThe local currency traded mixed against Asean currencies.
\nIt fell against the Singapore dollar to 3.1168/3.1316 from 3.1155/3.1199 at yesterday’s close, but appreciated against the Thai baht to 12.3769/12.4427 from 12.4056/12.4282.
\nIt was almost flat against the Philippine peso at 6.68/6.72 from 6.68/6.70 previously, while showing little change against the Indonesian rupiah at 233.5/234.7 compared with 233.5/233.9.
\n","content_text":"KUALA LUMPUR: The ringgit remained firmer at the 3.97 level against the US dollar and other major currencies at Thursday’s opening, supported by improved market optimism following the two-week ceasefire, which spurred risk-on sentiment.\nAt 8am, the local currency rose to 3.9730/3.9915 against the greenback, compared with Wednesday’s close of 3.9735/3.9785.\nBank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar index (DXY) continued to hover below 100, at 99.013 this morning, giving a 0.85% decline.\nYesterday, the ringgit closed higher by 1.33% to 3.9735.\nNevertheless, he said the situation remains fragile, as any breach of the ceasefire could shift market sentiment and potentially trigger a sudden spike in crude oil prices.\n“Today, the USD/MYR could stay in a narrow range as traders and investors continue to observe the compliance with the ceasefire agreement,” he noted.\nAt the opening, the ringgit strengthened against the Japanese yen to 2.5041/2.5159 from 2.5071/2.5104 at Wednesday’s close, appreciated against the euro to 4.6317/4.6533 from 4.6407/4.6465, and rose versus the British pound to 5.3202/5.3450 from 5.3348/5.3415.\nThe local currency traded mixed against Asean currencies.\nIt fell against the Singapore dollar to 3.1168/3.1316 from 3.1155/3.1199 at yesterday’s close, but appreciated against the Thai baht to 12.3769/12.4427 from 12.4056/12.4282.\nIt was almost flat against the Philippine peso at 6.68/6.72 from 6.68/6.70 previously, while showing little change against the Indonesian rupiah at 233.5/234.7 compared with 233.5/233.9.","date_published":"2026-04-09T00:52:37.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","ceasefire","Mohd Afzanizam Abdul Rashid","opening","Ringgit","US dollar"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/08/cf2fdad2-ringgit.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/08/cf2fdad2-ringgit.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/us-fed-policymakers-flag-possible-rate-hikes-to-tackle-inflation","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/us-fed-policymakers-flag-possible-rate-hikes-to-tackle-inflation","title":"US Fed policymakers flag possible rate hikes to tackle inflation","summary":"Policymakers signalled concern that persistently high oil prices due to the conflict in the Middle East could bleed through into core inflation.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/6fd77a1d-us-federal-reserve-epa.webp\")
WASHINGTON: Many US central bank policymakers cited the possible need for interest rate hikes to counter the risk of sustained inflation from high oil prices, minutes of their recent meeting showed Wednesday.
\nThe US Federal Reserve has been battling to bring inflation down to its long-term 2% target since the pandemic.
\nIn March, the Fed chose to extend a pause on interest rate cuts — after three reductions in late 2025 — and raised its inflation forecast.
\nAt the meeting, officials flagged one expected cut by the end of the year, and cited an “uncertain” economic outlook due to the war in the Middle East.
\nThe US-Israeli war on Iran, launched on Feb 28, has engulfed the region in violence, with Tehran sending oil prices skyrocketing by virtually closing the vital Strait of Hormuz.
\nDespite a ceasefire announced late Tuesday, uncertainty remained a day later, with reports that the strait may remain closed.
\nThe US Fed has a dual mandate of keeping inflation to its long-term target while ensuring maximum employment.
\nMinutes of its last meeting, which took place March 17-18, showed there was concern about the lack of progress in bringing inflation down.
\n“Some participants noted that the rate of increase in core goods prices remained well above the pace likely to be consistent with the sustainable achievement of the Committee’s inflation objective, at least in part reflecting the effects of tariffs,” the minutes said.
\nPresident Donald Trump has roiled the US economy and global trade by imposing a raft of sometimes eyewatering tariffs against almost all trade partners.
\nMany were struck down by the Supreme Court, only to be replaced by the administration at lower levels using other powers.
\nMoreover, Fed policymakers signalled concern that persistently high oil prices due to the conflict in the Middle East could bleed through into core inflation — a measure that generally excludes the volatility in food and energy costs.
\n“Some participants highlighted the possibility that, after several years of above-target inflation, longer-term inflation expectations could become more sensitive to energy price increases,” the minutes said.
\nThe Fed’s primary tool for addressing inflation and unemployment is setting interest rates — lowering it tends to spur economic activity and can increase prices, while raising it generally cools those measures.
\n“A couple” of participants at the meeting had “pushed their assessment of the most likely timing of rate cuts further into the future in light of recent readings on inflation.”
\n“Many participants pointed to the risk of inflation remaining elevated for longer than expected amid a persistent increase in oil prices, which could call for rate increases to help bring inflation down to the Committee’s two percent objective,” the minutes said.
\n","content_text":"WASHINGTON: Many US central bank policymakers cited the possible need for interest rate hikes to counter the risk of sustained inflation from high oil prices, minutes of their recent meeting showed Wednesday.\nThe US Federal Reserve has been battling to bring inflation down to its long-term 2% target since the pandemic.\nIn March, the Fed chose to extend a pause on interest rate cuts - after three reductions in late 2025 - and raised its inflation forecast.\nAt the meeting, officials flagged one expected cut by the end of the year, and cited an \"uncertain\" economic outlook due to the war in the Middle East.\nThe US-Israeli war on Iran, launched on Feb 28, has engulfed the region in violence, with Tehran sending oil prices skyrocketing by virtually closing the vital Strait of Hormuz.\nDespite a ceasefire announced late Tuesday, uncertainty remained a day later, with reports that the strait may remain closed.\nThe US Fed has a dual mandate of keeping inflation to its long-term target while ensuring maximum employment.\nMinutes of its last meeting, which took place March 17-18, showed there was concern about the lack of progress in bringing inflation down.\n\"Some participants noted that the rate of increase in core goods prices remained well above the pace likely to be consistent with the sustainable achievement of the Committee's inflation objective, at least in part reflecting the effects of tariffs,\" the minutes said.\nPresident Donald Trump has roiled the US economy and global trade by imposing a raft of sometimes eyewatering tariffs against almost all trade partners.\nMany were struck down by the Supreme Court, only to be replaced by the administration at lower levels using other powers.\nMoreover, Fed policymakers signalled concern that persistently high oil prices due to the conflict in the Middle East could bleed through into core inflation - a measure that generally excludes the volatility in food and energy costs.\n\"Some participants highlighted the possibility that, after several years of above-target inflation, longer-term inflation expectations could become more sensitive to energy price increases,\" the minutes said.\nThe Fed's primary tool for addressing inflation and unemployment is setting interest rates - lowering it tends to spur economic activity and can increase prices, while raising it generally cools those measures.\n\"A couple\" of participants at the meeting had \"pushed their assessment of the most likely timing of rate cuts further into the future in light of recent readings on inflation.\"\n\"Many participants pointed to the risk of inflation remaining elevated for longer than expected amid a persistent increase in oil prices, which could call for rate increases to help bring inflation down to the Committee's two percent objective,\" the minutes said.","date_published":"2026-04-08T22:49:48.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","inflation","meeting","Middle East","rate hike","US Federal Reserve"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/6fd77a1d-us-federal-reserve-epa.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/11/6fd77a1d-us-federal-reserve-epa.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/09/wall-street-ends-sharply-higher-on-us-iran-ceasefire","url":"https://www.freemalaysiatoday.com/category/business/2026/04/09/wall-street-ends-sharply-higher-on-us-iran-ceasefire","title":"Wall Street ends sharply higher on US-Iran ceasefire","summary":"The S&P 500 shot above its 200-day moving average for the first time since mid-March, while the Dow registered its largest single-session percentage gain since April 9, 2025.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/112f18d6-afp__20240820__2167560269__v1__midres__marketsopentuesdaymorningaftersp500posts8thst_1.webp\")
NEW YORK: US stocks closed sharply higher on Wednesday after a last-minute, two-week ceasefire agreement between the US and Iran lifted investor sentiment.
\nAll three major US stock indexes surged at the opening bell, muscled higher by a broad relief rally after a deal brokered by Pakistan resulted in a two-week suspension of the war. The conflict, which began with joint US-Israeli strikes on Iran on Feb 28, has sent world markets reeling, disrupted global oil supply and sparked fears of rising inflation.
\nA senior Iranian official told Reuters that the crucial Strait of Hormuz, through which one-fifth of the world’s oil is shipped, could be reopened on Thursday or Friday ahead of peace talks if the countries agreed upon a framework for the ceasefire.
\n“It’s an expected move today and there’s still a lot of work to do, but I think the market is quite relieved,” said Mike Dickson, head of portfolio management at Horizon Investments in Charlotte, North Carolina. “The other side of this coin could have been a lot worse and frankly there’s a good reason to think that it was possible too. So you’re seeing that relief rally in the hardest-hit areas of the market.”
\nThe S&P 500 shot above its 200-day moving average for the first time since mid-March, while the Dow registered its largest single-session percentage gain since April 9, 2025.
\nEconomically sensitive Dow Transports touched an all-time high, while the Russell 2000 outperformed its larger-cap peers. Chips jumped 6.3%.
\nThe rally was not confined to US indexes. European shares rose 3.9%, while MSCI’s World index was up over 3%. Both indexes logged their biggest one-day percentage gains in a year.
\n“Most other countries were more exposed to an energy shock and a food shock than the US,” said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. “So this is a much bigger near-term relief for international stocks.”
\nThe CBOE Market Volatility index, a barometer of investor anxiety, dipped to its lowest level since the beginning of the war.
\nFront-month WTI and Brent crude futures fell 16.4% and 13.3%, respectively, both settling below US$100 per barrel.
\nMinutes from the US Federal Reserve’s March meeting, released on Wednesday, showed a growing openness to rate hikes as policymakers raised their 2026 inflation outlook due to war-related oil shock.
\nThe Dow Jones Industrial Average rose 1,326.33 points, or 2.85%, to 47,910.79, the S&P 500 gained 165.98 points, or 2.51%, to 6,782.83 and the Nasdaq Composite gained 617.15 points, or 2.80%, to 22,635.00.
\nOf the 11 major sectors in the S&P 500, eight jumped 2% or more, with industrials leading the pack. Energy stocks, dragged down by falling crude prices, were the sole percentage losers, dropping 3.7%.
\nSectors that have suffered a beating since the war began enjoyed a robust bounceback. Commercial airlines jumped 5.7%, travel and leisure-related stocks shot up 5.2% and homebuilders rose 4.9%.
\nDelta Air Lines gained 3.8%, despite its disappointing second-quarter profit forecast. The commercial air carrier declined to update its annual outlook due to uncertainties related to the Iran war.
\nDelta peers Southwest Airlines and United Airlines advanced 6.7% and 7.9%, respectively.
\nCruise operator Carnival added 11.2% and Norwegian Cruise Line rose by 7.6%.
\nLevi Strauss jumped 10.7% after the apparel maker raised its annual sales and profit forecasts.
\nAdvancing issues outnumbered decliners by a 5.67-to-1 ratio on the NYSE. There were 197 new highs and 45 new lows on the NYSE.
\nOn the Nasdaq, 3,582 stocks rose and 1,174 fell as advancing issues outnumbered decliners by a 3.05-to-1 ratio.
\nThe S&P 500 posted 21 new 52-week highs and 5 new lows while the Nasdaq Composite recorded 133 new highs and 57 new lows.
\nVolume on US exchanges was 20.64 billion shares, compared with the 19.42 billion average for the full session over the last 20 trading days.
\n","content_text":"NEW YORK: US stocks closed sharply higher on Wednesday after a last-minute, two-week ceasefire agreement between the US and Iran lifted investor sentiment.\nAll three major US stock indexes surged at the opening bell, muscled higher by a broad relief rally after a deal brokered by Pakistan resulted in a two-week suspension of the war. The conflict, which began with joint US-Israeli strikes on Iran on Feb 28, has sent world markets reeling, disrupted global oil supply and sparked fears of rising inflation.\nA senior Iranian official told Reuters that the crucial Strait of Hormuz, through which one-fifth of the world's oil is shipped, could be reopened on Thursday or Friday ahead of peace talks if the countries agreed upon a framework for the ceasefire.\n\"It’s an expected move today and there's still a lot of work to do, but I think the market is quite relieved,\" said Mike Dickson, head of portfolio management at Horizon Investments in Charlotte, North Carolina. \"The other side of this coin could have been a lot worse and frankly there's a good reason to think that it was possible too. So you're seeing that relief rally in the hardest-hit areas of the market.\"\nThe S&P 500 shot above its 200-day moving average for the first time since mid-March, while the Dow registered its largest single-session percentage gain since April 9, 2025.\nEconomically sensitive Dow Transports touched an all-time high, while the Russell 2000 outperformed its larger-cap peers. Chips jumped 6.3%.\nThe rally was not confined to US indexes. European shares rose 3.9%, while MSCI's World index was up over 3%. Both indexes logged their biggest one-day percentage gains in a year.\n\"Most other countries were more exposed to an energy shock and a food shock than the US,\" said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. \"So this is a much bigger near-term relief for international stocks.\"\nThe CBOE Market Volatility index, a barometer of investor anxiety, dipped to its lowest level since the beginning of the war.\nFront-month WTI and Brent crude futures fell 16.4% and 13.3%, respectively, both settling below US$100 per barrel.\nMinutes from the US Federal Reserve's March meeting, released on Wednesday, showed a growing openness to rate hikes as policymakers raised their 2026 inflation outlook due to war-related oil shock.\nThe Dow Jones Industrial Average rose 1,326.33 points, or 2.85%, to 47,910.79, the S&P 500 gained 165.98 points, or 2.51%, to 6,782.83 and the Nasdaq Composite gained 617.15 points, or 2.80%, to 22,635.00.\nOf the 11 major sectors in the S&P 500, eight jumped 2% or more, with industrials leading the pack. Energy stocks, dragged down by falling crude prices, were the sole percentage losers, dropping 3.7%.\nSectors that have suffered a beating since the war began enjoyed a robust bounceback. Commercial airlines jumped 5.7%, travel and leisure-related stocks shot up 5.2% and homebuilders rose 4.9%.\nDelta Air Lines gained 3.8%, despite its disappointing second-quarter profit forecast. The commercial air carrier declined to update its annual outlook due to uncertainties related to the Iran war.\nDelta peers Southwest Airlines and United Airlines advanced 6.7% and 7.9%, respectively.\nCruise operator Carnival added 11.2% and Norwegian Cruise Line rose by 7.6%.\nLevi Strauss jumped 10.7% after the apparel maker raised its annual sales and profit forecasts.\nAdvancing issues outnumbered decliners by a 5.67-to-1 ratio on the NYSE. There were 197 new highs and 45 new lows on the NYSE.\nOn the Nasdaq, 3,582 stocks rose and 1,174 fell as advancing issues outnumbered decliners by a 3.05-to-1 ratio.\nThe S&P 500 posted 21 new 52-week highs and 5 new lows while the Nasdaq Composite recorded 133 new highs and 57 new lows.\nVolume on US exchanges was 20.64 billion shares, compared with the 19.42 billion average for the full session over the last 20 trading days.","date_published":"2026-04-08T22:10:08.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","Dow Jones Industrial Average","Nasdaq","s&p 500","US stocks","Wall Street"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/112f18d6-afp__20240820__2167560269__v1__midres__marketsopentuesdaymorningaftersp500posts8thst_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/112f18d6-afp__20240820__2167560269__v1__midres__marketsopentuesdaymorningaftersp500posts8thst_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/tiktok-plans-second-data-centre-in-finland","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/tiktok-plans-second-data-centre-in-finland","title":"TikTok plans second data centre in Finland","summary":"The social media giant said it will invest €1 billion for its second European data centre, boosting security infrastructure and commitment.","content_html":"![\"TikTok\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/1614d278-tiktok-1.jpg\")
HELSINKI: Social media giant TikTok said Wednesday it was investing €1 billion (US$1.2 billion) in a data centre in Finland, its second in the Nordic country, as part of its expansion plans.
\nChinese-owned TikTok said in a statement that its second “billion-euro data centre” in Finland would be located in Lahti in the country’s south, forming “part of our continued expansion of secure digital infrastructure in Europe” to strengthen “long-term commitment to the country”.
\nChristian Hannibal, head of public policy for TikTok in Finland, said the Nordic country “offers a unique combination of strong digital infrastructure, access to clean and reliable energy, and a highly skilled workforce”.
\nDue to its suitable conditions, several major data centre investments have been made in Finland in previous years, including by technology giants Microsoft and Google.
\n“Once operational, the Lahti data centre will strengthen our ability to support the default storage of European user data in Europe, under strict access controls and advanced monitoring systems,” TikTok said in a statement.
\nThe video-sharing platform has, meanwhile, faced accusations of addicting users to content, as several countries plan limitations on social media use for minors.
\nIn February, based on the preliminary conclusions of a probe opened two years earlier, the European Commission said it found TikTok was not taking effective steps to address the app’s negative impacts, especially on minors and vulnerable adults.
\nTikTok announced its first data centre in Finland, located in Kouvola, in May 2025, calling it a “significant step” in its commitment to data security in Europe.
\nThe announcement then sparked a political debate around the company’s transparency and data security.
\n","content_text":"HELSINKI: Social media giant TikTok said Wednesday it was investing €1 billion (US$1.2 billion) in a data centre in Finland, its second in the Nordic country, as part of its expansion plans.\nChinese-owned TikTok said in a statement that its second \"billion-euro data centre\" in Finland would be located in Lahti in the country's south, forming \"part of our continued expansion of secure digital infrastructure in Europe\" to strengthen \"long-term commitment to the country\".\nChristian Hannibal, head of public policy for TikTok in Finland, said the Nordic country \"offers a unique combination of strong digital infrastructure, access to clean and reliable energy, and a highly skilled workforce\".\nDue to its suitable conditions, several major data centre investments have been made in Finland in previous years, including by technology giants Microsoft and Google.\n\"Once operational, the Lahti data centre will strengthen our ability to support the default storage of European user data in Europe, under strict access controls and advanced monitoring systems,\" TikTok said in a statement.\nThe video-sharing platform has, meanwhile, faced accusations of addicting users to content, as several countries plan limitations on social media use for minors.\nIn February, based on the preliminary conclusions of a probe opened two years earlier, the European Commission said it found TikTok was not taking effective steps to address the app's negative impacts, especially on minors and vulnerable adults.\nTikTok announced its first data centre in Finland, located in Kouvola, in May 2025, calling it a \"significant step\" in its commitment to data security in Europe.\nThe announcement then sparked a political debate around the company's transparency and data security.","date_published":"2026-04-08T14:43:06.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","data centre","data security","Digital infrastructure","European expansion","Lahti investment","Nordic technology","social media","Tech Investment","TikTok Finland","user data"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/1614d278-tiktok-1.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/1614d278-tiktok-1.jpg"},{"id":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/lynas-says-planning-full-suite-of-rare-earths-in-malaysia","url":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/lynas-says-planning-full-suite-of-rare-earths-in-malaysia","title":"Lynas says planning ‘full suite’ of rare earths in Malaysia","summary":"The Australian mining company also says it will increase collaboration with makers of high-performance magnets used in advanced industries such as electronics and aerospace.","content_html":"![\"lynas](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/11c4258c-lynas-gebeng-lynas-pic-080426.webp\")
KUANTAN: Australian mining firm Lynas said on Wednesday it plans to expand its portfolio of rare earths extracted in Malaysia, as it hopes to bolster its position as a key alternative supplier to China.
\nThe company, which owns the largest commercial rare earths plant outside of China, also said it would increase collaboration with makers of high-performance magnets that are used in advanced industries such as electronics and aerospace.
\n“The first step was to demonstrate that we are able to extract heavy rare (earths),” Lynas chief operating officer Pol Le Roux said in an interview at the company’s facility in Gebeng, Pahang.
\n“We demonstrated that with dysprosium in May last year, terbium in June, and samarium last month.”
\nThe three elements, known as “heavy rare earth oxides”, have become increasingly sought-after since Beijing restricted exports in 2025.
\nLynas announced in March it had begun producing samarium oxide, used in high-performance magnets.
\nThe Gebeng facility, which has been running since 2012, supplies materials used in a range of products including electric vehicles, mobile phones, and missiles.
\nLe Roux said Lynas had also “started detailed engineering of a full heavy rare (earths) separation that will provide us the capability to extract any rare earths demanded by the market”.
\n“This is ongoing, and we will have a full suite of extraction on this site” by late next year, he added.
\nLynas has cornered around 10% of the world’s rare earth market, with the other 90% made in China.
\nThe three oxides already extracted by Lynas in Malaysia are used to make high-end magnets, used to help treat cancer pain, and in devices such as headphones, electric vehicles and wind turbines, as well as solid state lasers and defence equipment.
\nLynas CEO Amanda Lacaze told AFP the company was already partnering with high-end magnet makers to close the downstream gap between rare earth processing and manufacturing.
\n“We won’t just say that we are going to wake up tomorrow and be a magnet maker,” she said.
\n“We will do that in partnership with firms that have demonstrated expertise in these areas.”
\nIn March, Lynas announced a 10-year renewal of its operating licence in Malaysia, under stricter conditions set by the government over environmental concerns.
\nMalaysia is now the largest commercial producer of separated rare earths outside China.
\n","content_text":"KUANTAN: Australian mining firm Lynas said on Wednesday it plans to expand its portfolio of rare earths extracted in Malaysia, as it hopes to bolster its position as a key alternative supplier to China.\nThe company, which owns the largest commercial rare earths plant outside of China, also said it would increase collaboration with makers of high-performance magnets that are used in advanced industries such as electronics and aerospace.\n\"The first step was to demonstrate that we are able to extract heavy rare (earths),\" Lynas chief operating officer Pol Le Roux said in an interview at the company's facility in Gebeng, Pahang.\n\"We demonstrated that with dysprosium in May last year, terbium in June, and samarium last month.\"\nThe three elements, known as \"heavy rare earth oxides\", have become increasingly sought-after since Beijing restricted exports in 2025.\nLynas announced in March it had begun producing samarium oxide, used in high-performance magnets.\nThe Gebeng facility, which has been running since 2012, supplies materials used in a range of products including electric vehicles, mobile phones, and missiles.\nLe Roux said Lynas had also \"started detailed engineering of a full heavy rare (earths) separation that will provide us the capability to extract any rare earths demanded by the market\".\n\"This is ongoing, and we will have a full suite of extraction on this site\" by late next year, he added.\nLynas has cornered around 10% of the world's rare earth market, with the other 90% made in China.\nThe three oxides already extracted by Lynas in Malaysia are used to make high-end magnets, used to help treat cancer pain, and in devices such as headphones, electric vehicles and wind turbines, as well as solid state lasers and defence equipment.\nLynas CEO Amanda Lacaze told AFP the company was already partnering with high-end magnet makers to close the downstream gap between rare earth processing and manufacturing.\n\"We won't just say that we are going to wake up tomorrow and be a magnet maker,\" she said.\n\"We will do that in partnership with firms that have demonstrated expertise in these areas.\"\nIn March, Lynas announced a 10-year renewal of its operating licence in Malaysia, under stricter conditions set by the government over environmental concerns.\nMalaysia is now the largest commercial producer of separated rare earths outside China.","date_published":"2026-04-08T14:31:34.000Z","author":{"name":"AFP"},"tags":["Highlight","Top News","Malaysia","Business","Local Business","Top Business","Gebeng","heavy oxides","Lynas","Pahang","rare earths"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/11c4258c-lynas-gebeng-lynas-pic-080426.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/11c4258c-lynas-gebeng-lynas-pic-080426.webp"},{"id":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/madani-mart-wont-sideline-small-retailers-says-govt","url":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/madani-mart-wont-sideline-small-retailers-says-govt","title":"Madani Mart won’t sideline small retailers, says govt","summary":"Deputy domestic trade and cost of living minister Fuziah Salleh says efforts are under way to review the sundry shop market and integrate them into the Madani Mart network.","content_html":"![\"madani](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/10873657-madani-mart-bernama-pic-7426.webp\")
PETALING JAYA: The government’s Madani Mart initiative will not restrict the growth of regular sundry shops, says deputy domestic trade and cost of living minister Fuziah Salleh.
\nFuziah said Yayasan Madani, as the brand owner, is reviewing the sundry shop market with a view of integrating them into the Madani Mart network.
\nShe said her ministry is aware of several challenges faced by sundry shops such as their inability to purchase in bulk because of limited capital, lack of access to credit facilities, and difficulties in ensuring a sustainable supply chain.
\n“Madani Mart will indirectly support sundry shops and small and medium-sized enterprises (SMEs).
\n“Yayasan Madani is currently in discussions to make this happen,” she told FMT, adding that empowering small retailers to sustain the SME ecosystem remains a key government priority.
\nMadani Mart operations manager Lutfi Arifin said the initiative is based on a collaborative public-private partnership model.
\nHe said each outlet is fully owned and operated by entrepreneurs under their own business entities.
\n“This ensures that every Madani Mart is owned by local entrepreneurs, not the government or the foundation,” he said.
\nLutfi said Madani Mart operates in an open and competitive environment, with no monopoly in the appointment of suppliers or operators.
\n“Selections are based on commercial capability, operational efficiency, and an effective supply chain,” he said.
\nThe model also promotes business ownership among the public, creating opportunities for local entrepreneurs to enter the modern retail sector within a transparent, structured, and competitive ecosystem, while gaining access to a sustainable supply chain.
\nEarlier today, a Malay trade group urged the government to ensure that its Madani Mart initiative does not kill off regular sundry shops, saying that such SMEs are key to the local economy.
\nThe Malay Economic Action Council also suggested that some government funds involved in the Madani Mart outlets be channelled towards transformation programmes for sundry shops.
\n","content_text":"PETALING JAYA: The government’s Madani Mart initiative will not restrict the growth of regular sundry shops, says deputy domestic trade and cost of living minister Fuziah Salleh.\nFuziah said Yayasan Madani, as the brand owner, is reviewing the sundry shop market with a view of integrating them into the Madani Mart network.\nShe said her ministry is aware of several challenges faced by sundry shops such as their inability to purchase in bulk because of limited capital, lack of access to credit facilities, and difficulties in ensuring a sustainable supply chain.\n“Madani Mart will indirectly support sundry shops and small and medium-sized enterprises (SMEs).\n“Yayasan Madani is currently in discussions to make this happen,” she told FMT, adding that empowering small retailers to sustain the SME ecosystem remains a key government priority.\nMadani Mart operations manager Lutfi Arifin said the initiative is based on a collaborative public-private partnership model.\nHe said each outlet is fully owned and operated by entrepreneurs under their own business entities.\n“This ensures that every Madani Mart is owned by local entrepreneurs, not the government or the foundation,” he said.\nLutfi said Madani Mart operates in an open and competitive environment, with no monopoly in the appointment of suppliers or operators.\n“Selections are based on commercial capability, operational efficiency, and an effective supply chain,” he said.\nThe model also promotes business ownership among the public, creating opportunities for local entrepreneurs to enter the modern retail sector within a transparent, structured, and competitive ecosystem, while gaining access to a sustainable supply chain.\nEarlier today, a Malay trade group urged the government to ensure that its Madani Mart initiative does not kill off regular sundry shops, saying that such SMEs are key to the local economy.\nThe Malay Economic Action Council also suggested that some government funds involved in the Madani Mart outlets be channelled towards transformation programmes for sundry shops.","date_published":"2026-04-08T14:09:50.000Z","author":{"name":"Faiz Zainudin"},"tags":["Highlight","Top News","Malaysia","Business","Local Business","Top Business","Economy","Fuziah Salleh","Madani Mart","public-private partnership","retail sector","small retailers","SMEs","sundry shops","supply chain","Yayasan Madani"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/10873657-madani-mart-bernama-pic-7426.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/10873657-madani-mart-bernama-pic-7426.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-prices-plunge-stocks-surge-on-us-iran-ceasefire","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-prices-plunge-stocks-surge-on-us-iran-ceasefire","title":"Oil prices plunge, stocks surge on US-Iran ceasefire","summary":"The most widely traded oil contracts fell more than 15% to just above US$90 a barrel after a month of conflict.","content_html":"![\"wall](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/c636a3c8-wall-street-traders.jpg\")
LONDON: Oil and gas prices plunged, stock markets soared and the dollar retreated Wednesday after the US and Iran agreed a temporary ceasefire that could lead to the Strait of Hormuz reopening.
\n“A wave of relief has hit financial markets after threats of a devastating escalation of the war were replaced by a temporary truce,” said Susannah Streeter, chief investment strategist, Wealth Club.
\nThe most widely traded oil contracts fell more than 15% to just above US$90 a barrel after a month of conflict that killed thousands and hammered the global economy.
\nStock markets soared, with Wall Street’s three main indexes opening more than 2% higher.
\nEurope’s main bourses were up between two and five percent in mid-afternoon trading.
\nThe Tokyo stock market closed up 5.4% and Chinese indices jumped around 3%.
\nThe dollar, a safe haven in times of market turmoil, slid against the euro, yen and British pound as investors returned to riskier assets.
\nBut traders warned that the euphoria could be short-lived as both sides have threatened to resume hostilities if the two-week pause does not lead to an agreement.
\n“In reality, the markets are not pricing in peace but a window for negotiation. And that is precisely the issue: in two weeks, either this window will lead to a lasting agreement, or it will only postpone and amplify the energy shock that everyone fears,” said John Plassard of Cite Gestion.
\nMaritime monitor Marine Traffic noted that two ships had passed through the waterway since Iran agreed to reopen it, through which much of the world’s oil, gas and fertiliser passes. But a major German shipping company said it was too early for its trapped ships to set sail out of the Gulf.
\nShipping journal Lloyd’s List estimated that around 800 ships were hampered.
\nThe International Air Transport Association, meanwhile, said that it would take months for jet fuel supplies and prices to normalise.
\n“Should talks falter or activity through the strait remain subdued, oil prices and the dollar could reverse course fairly quickly,” said Matthew Ryan, head of market strategy at global financial services firm Ebury.
\nMost equity sectors saw sizeable gains, with mining groups, banks and airlines among the biggest winners, with gains of more than 10% in some cases.
\nEnergy majors slumped, however, having made huge gains over the past few weeks.
\nShell was down more than 6% in London even as it said first-quarter earnings were set for a “significant” boost from higher oil prices. BP fell more than 7% and Totalenergies 5%.
\nDespite Wednesday’s hefty falls in oil and gas prices, fuel prices and energy company share prices remain far above their levels on the eve of the Mideast war at the end of February.
\n“I don’t think we’re going to (quickly) go back to the levels we were at before the war,” said Kathleen Brooks, research director at XTB traders.
\n“The reason why is that energy infrastructure across the Gulf has been targeted.”
\n","content_text":"LONDON: Oil and gas prices plunged, stock markets soared and the dollar retreated Wednesday after the US and Iran agreed a temporary ceasefire that could lead to the Strait of Hormuz reopening.\n\"A wave of relief has hit financial markets after threats of a devastating escalation of the war were replaced by a temporary truce,\" said Susannah Streeter, chief investment strategist, Wealth Club.\nThe most widely traded oil contracts fell more than 15% to just above US$90 a barrel after a month of conflict that killed thousands and hammered the global economy.\nStock markets soared, with Wall Street's three main indexes opening more than 2% higher.\nEurope's main bourses were up between two and five percent in mid-afternoon trading.\nThe Tokyo stock market closed up 5.4% and Chinese indices jumped around 3%.\nThe dollar, a safe haven in times of market turmoil, slid against the euro, yen and British pound as investors returned to riskier assets.\nBut traders warned that the euphoria could be short-lived as both sides have threatened to resume hostilities if the two-week pause does not lead to an agreement.\n\"In reality, the markets are not pricing in peace but a window for negotiation. And that is precisely the issue: in two weeks, either this window will lead to a lasting agreement, or it will only postpone and amplify the energy shock that everyone fears,\" said John Plassard of Cite Gestion.\nMaritime monitor Marine Traffic noted that two ships had passed through the waterway since Iran agreed to reopen it, through which much of the world's oil, gas and fertiliser passes. But a major German shipping company said it was too early for its trapped ships to set sail out of the Gulf.\nShipping journal Lloyd's List estimated that around 800 ships were hampered.\nThe International Air Transport Association, meanwhile, said that it would take months for jet fuel supplies and prices to normalise.\n\"Should talks falter or activity through the strait remain subdued, oil prices and the dollar could reverse course fairly quickly,\" said Matthew Ryan, head of market strategy at global financial services firm Ebury.\nMost equity sectors saw sizeable gains, with mining groups, banks and airlines among the biggest winners, with gains of more than 10% in some cases.\nEnergy majors slumped, however, having made huge gains over the past few weeks.\nShell was down more than 6% in London even as it said first-quarter earnings were set for a \"significant\" boost from higher oil prices. BP fell more than 7% and Totalenergies 5%.\nDespite Wednesday's hefty falls in oil and gas prices, fuel prices and energy company share prices remain far above their levels on the eve of the Mideast war at the end of February.\n\"I don't think we're going to (quickly) go back to the levels we were at before the war,\" said Kathleen Brooks, research director at XTB traders.\n\"The reason why is that energy infrastructure across the Gulf has been targeted.\"","date_published":"2026-04-08T13:55:59.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","dollar decline","energy markets","global economy","investor sentiment","Iran ceasefire","market surge","oil prices","stock rally","Strait Hormuz","Trade recovery"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/c636a3c8-wall-street-traders.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/c636a3c8-wall-street-traders.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/ringgit-rises-to-3-97-after-us-iran-ceasefire-deal","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/ringgit-rises-to-3-97-after-us-iran-ceasefire-deal","title":"Ringgit strengthens below 4.00 on US-Iran ceasefire optimism","summary":"The ringgit was supported by the ceasefire and prospects of reopening the Strait of Hormuz, which could stabilise oil supply and ease energy prices, says an analyst.","content_html":"![\"Ringgit](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/464927ae-ringgit-exchange_week-2-2025-080426.webp\")
KUALA LUMPUR: The ringgit strengthened to close at 3.97 against the US dollar on Wednesday, as optimism returned following a two-week ceasefire between the US and Iran.
\nBank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said following the ceasefire the ringgit was supported by the prospects of reopening the Strait of Hormuz, which could stabilise oil supply and ease energy prices.
\n“These developments could provide some temporary respite to the market amid heightened economic uncertainties following the shock from the conflict in the Middle East,” he told Bernama.
\nWhile uncertainties remain high, Afzanizam said Iran’s willingness to budge is a positive signal for future negotiations.
\nAt 6pm, the local note appreciated to 3.9735/3.9785 against the US dollar from 4.0275/4.0320 at Tuesday’s close, marking a return to below the 4.00 psychological level, with a day-to-day appreciation of 1.31%.
\nAt the close, the ringgit traded higher against a basket of major currencies.
\nIt rose against the euro to 4.6407/4.6465 from 4.6566/4.6618, appreciated against the British pound to 5.3348/5.3415 compared with 5.3425/5.3484, and rose against the Japanese yen to 2.5071/2.5104 from 2.5229/2.5258.
\nAt the same time, the local currency traded mostly higher against Asean currencies.
\nIt was higher versus the Singapore dollar at 3.1155/3.1199 from 3.1381/3.1419, and appreciated against the Indonesian rupiah to 233.5/233.9 from 235.4/235.8.
\nMeanwhile, the ringgit was almost unchanged versus the Philippine peso at 6.68/6.70 and slid against the Thai baht to 12.4056/12.4282 from 12.3809/12.4021 previously.
\n","content_text":"KUALA LUMPUR: The ringgit strengthened to close at 3.97 against the US dollar on Wednesday, as optimism returned following a two-week ceasefire between the US and Iran.\nBank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said following the ceasefire the ringgit was supported by the prospects of reopening the Strait of Hormuz, which could stabilise oil supply and ease energy prices.\n“These developments could provide some temporary respite to the market amid heightened economic uncertainties following the shock from the conflict in the Middle East,” he told Bernama.\nWhile uncertainties remain high, Afzanizam said Iran’s willingness to budge is a positive signal for future negotiations.\nAt 6pm, the local note appreciated to 3.9735/3.9785 against the US dollar from 4.0275/4.0320 at Tuesday’s close, marking a return to below the 4.00 psychological level, with a day-to-day appreciation of 1.31%.\nAt the close, the ringgit traded higher against a basket of major currencies.\nIt rose against the euro to 4.6407/4.6465 from 4.6566/4.6618, appreciated against the British pound to 5.3348/5.3415 compared with 5.3425/5.3484, and rose against the Japanese yen to 2.5071/2.5104 from 2.5229/2.5258.\nAt the same time, the local currency traded mostly higher against Asean currencies.\nIt was higher versus the Singapore dollar at 3.1155/3.1199 from 3.1381/3.1419, and appreciated against the Indonesian rupiah to 233.5/233.9 from 235.4/235.8.\nMeanwhile, the ringgit was almost unchanged versus the Philippine peso at 6.68/6.70 and slid against the Thai baht to 12.4056/12.4282 from 12.3809/12.4021 previously.","date_published":"2026-04-08T10:38:00.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Afzanizam Rashid","ceasefire","FMTBizRinggit","Hormuz","Iran","Ringgit close","US","US dollar"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/464927ae-ringgit-exchange_week-2-2025-080426.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/464927ae-ringgit-exchange_week-2-2025-080426.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/wall-street-futures-climb-on-relief-from-us-iran-ceasefire","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/wall-street-futures-climb-on-relief-from-us-iran-ceasefire","title":"Wall Street futures climb on relief from US-Iran ceasefire","summary":"The ceasefire brought immediate relief to investors after weeks of conflicting signals from Donald Trump and Iran that had dragged the conflict into a second month.","content_html":"![\"korea](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/b72df672-korea-market.jpg\")
BENGALURU: US stock index futures climbed on Wednesday as investors breathed a sigh of relief after the US and Iran agreed to a two-week ceasefire, sending crude prices lower on expectations that energy supplies through the Strait of Hormuz could resume.
\nThe announcement came less than two hours before US President Donald Trump’s deadline, in a sharp turnaround from his previous warning of wiping out “a whole civilization” if Tehran did not reopen the Strait of Hormuz, the narrow waterway that typically handles about one-fifth of global oil trade.
\nGlobal assets staged a sharp rally: Equity indexes in Asian and European markets climbed between 4% and 5%, while crude prices slid 16% to nearly US$90 a barrel. The dollar, which had attracted safe-haven interest over the past month, weakened 1% against the Japanese yen.
\n“The rally will need to be backed up by tangible progress in negotiations to hold. The underlying question of whether Iran will permanently reopen the Strait of Hormuz and whether a lasting deal can be reached is still very much unresolved,” said Josh Gilbert, market analyst for eToro.
\n“If the two weeks pass without a deal, expect a sharp and unforgiving reversal of this relief rally.”
\nThe ceasefire brought immediate relief to investors after weeks of conflicting signals from Trump and Iran that had dragged the conflict into a second month.
\nAt 04:05 a.m. ET, Dow E-minis YMcv1 were up 1,045 points, or 2.23%, S&P 500 E-minis EScv1 were up 162.25 points, or 2.44%, and Nasdaq 100 E-minis NQcv1 were up 771.25 points, or 3.16%.
\nFutures tracking the rate-sensitive Russell 2000 Index RTYcv1 jumped 3.6% while the CBOE Volatility Index slumped 5.01 points to 20.77, its lowest point in more than two weeks.
\nUS energy stocks tracked global oil prices and tumbled in premarket trading. Shares of Exxon Mobil shed 6.2%, Chevron dropped 5.4%, and Occidental Petroleum lost 7.8%.
\nStocks linked to travel and leisure sectors edged higher. Shares of American Airlines and Delta Airlines jumped 7.3% and 6.8%, respectively, while cruise operators Carnival and Norwegian Cruise Line Added 9.4% and 8.1%, respectively.
\nBig banks also nudged higher prior to the bell, with JPMorgan Chase, Bank of America and Wells Fargo up more than 2% each.
\nBeyond the immediate relief, global investors remain keen to see whether the ceasefire leads to a broader resolution before placing major bets.
\nStill, concerns persisted that a prolonged conflict and soaring energy costs could weigh on economic growth and complicate the Federal Reserve’s monetary policy trajectory. In March, the benchmark S&P 500 posted its biggest monthly fall in a year.
\nShort-term Treasury yields slipped on Wednesday, while interest-rate futures show investors see a 56% chance of a 25-basis-point cut by the end of 2026, according to LSEG-compiled data.
\nBefore the war erupted, traders had been betting on at least two 25-basis-point interest rate cuts this year.
\nLater in the day, investors will parse comments from Fed policymakers Mary Daly and Christopher Waller, and minutes from the central bank’s March 17-18 meeting.
\n","content_text":"BENGALURU: US stock index futures climbed on Wednesday as investors breathed a sigh of relief after the US and Iran agreed to a two-week ceasefire, sending crude prices lower on expectations that energy supplies through the Strait of Hormuz could resume.\nThe announcement came less than two hours before US President Donald Trump's deadline, in a sharp turnaround from his previous warning of wiping out \"a whole civilization\" if Tehran did not reopen the Strait of Hormuz, the narrow waterway that typically handles about one-fifth of global oil trade.\nGlobal assets staged a sharp rally: Equity indexes in Asian and European markets climbed between 4% and 5%, while crude prices slid 16% to nearly US$90 a barrel. The dollar, which had attracted safe-haven interest over the past month, weakened 1% against the Japanese yen.\n\"The rally will need to be backed up by tangible progress in negotiations to hold. The underlying question of whether Iran will permanently reopen the Strait of Hormuz and whether a lasting deal can be reached is still very much unresolved,\" said Josh Gilbert, market analyst for eToro.\n\"If the two weeks pass without a deal, expect a sharp and unforgiving reversal of this relief rally.\"\nThe ceasefire brought immediate relief to investors after weeks of conflicting signals from Trump and Iran that had dragged the conflict into a second month.\nAt 04:05 a.m. ET, Dow E-minis YMcv1 were up 1,045 points, or 2.23%, S&P 500 E-minis EScv1 were up 162.25 points, or 2.44%, and Nasdaq 100 E-minis NQcv1 were up 771.25 points, or 3.16%.\nFutures tracking the rate-sensitive Russell 2000 Index RTYcv1 jumped 3.6% while the CBOE Volatility Index slumped 5.01 points to 20.77, its lowest point in more than two weeks.\nUS energy stocks tracked global oil prices and tumbled in premarket trading. Shares of Exxon Mobil shed 6.2%, Chevron dropped 5.4%, and Occidental Petroleum lost 7.8%.\nStocks linked to travel and leisure sectors edged higher. Shares of American Airlines and Delta Airlines jumped 7.3% and 6.8%, respectively, while cruise operators Carnival and Norwegian Cruise Line Added 9.4% and 8.1%, respectively.\nBig banks also nudged higher prior to the bell, with JPMorgan Chase, Bank of America and Wells Fargo up more than 2% each.\nBeyond the immediate relief, global investors remain keen to see whether the ceasefire leads to a broader resolution before placing major bets.\nStill, concerns persisted that a prolonged conflict and soaring energy costs could weigh on economic growth and complicate the Federal Reserve's monetary policy trajectory. In March, the benchmark S&P 500 posted its biggest monthly fall in a year.\nShort-term Treasury yields slipped on Wednesday, while interest-rate futures show investors see a 56% chance of a 25-basis-point cut by the end of 2026, according to LSEG-compiled data.\nBefore the war erupted, traders had been betting on at least two 25-basis-point interest rate cuts this year.\nLater in the day, investors will parse comments from Fed policymakers Mary Daly and Christopher Waller, and minutes from the central bank's March 17-18 meeting.","date_published":"2026-04-08T09:59:11.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","ceasefire","crude","futures","stocks","US"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/b72df672-korea-market.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/03/b72df672-korea-market.jpg"},{"id":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/malaysia-emerges-as-regional-leader-in-milken-institute-investment-report","url":"https://www.freemalaysiatoday.com/category/nation/2026/04/08/malaysia-emerges-as-regional-leader-in-milken-institute-investment-report","title":"Malaysia emerges as regional leader in Milken Institute investment report","summary":"The country recorded the highest overall score among six Southeast Asian economies assessed in the think tank's Global Opportunity Index 2026.","content_html":"![\"kl](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/8811b637-kl-skyline-envato-elements-pic-070925-1.webp\")
PETALING JAYA: Malaysia has emerged as the top-performing economy among selected Southeast Asian growth markets in a report on attracting foreign investment by international think tank Milken Institute.
\nIn its Global Opportunity Index 2026, Malaysia ranked 23rd globally, outperforming regional peers such as Indonesia, Vietnam, the Philippines, Cambodia and Laos.
\nMalaysia recorded the highest overall score among the six Southeast Asian economies assessed, reflecting policy consistency and structural strengths that continue to support investor confidence.
\nIn a statement, the investment, trade and industry ministry said the report highlighted Malaysia’s strong and balanced investment ecosystem, underpinned by sound economic fundamentals, a robust institutional framework, and a well-developed financial sector.
\nIts performance was particularly strong in financial services, where it ranked 17th globally, and in business perception, where it placed 18th.
\n“These rankings reflect continued progress in deepening financial markets, improving regulatory quality, and maintaining a conducive business environment that supports investor confidence and long-term capital formation,” said the ministry.
\n“Malaysia’s strong performance in the report underscores its policy coherence and resilience, distinguishing it from regional competitors while solidifying its standing within a rapidly shifting investment landscape.”
\nThe ministry noted that the findings come amid heightened global volatility and geopolitical uncertainty such as the war in the Middle East, making Malaysia’s resilience stand out in a challenging investment climate.
\nIt said the country’s diversified economic structure, strong institutional frameworks, and proactive policy measures continue to provide stability and resilience, enabling Malaysia to navigate global headwinds while sustaining investor confidence.
\nIt said the government has been actively positioning the country as a regional investment gateway, supported by key policy frameworks such as the Madani economic framework, the New Investment Policy, and the New Industrial Master Plan 2030.
\nEfforts are also being driven by initiatives like the National Energy Transition Roadmap and the 13th Malaysia Plan, which aim to accelerate digitalisation, support the green transition and promote sustainable, innovation-led growth.
\n","content_text":"PETALING JAYA: Malaysia has emerged as the top-performing economy among selected Southeast Asian growth markets in a report on attracting foreign investment by international think tank Milken Institute.\nIn its Global Opportunity Index 2026, Malaysia ranked 23rd globally, outperforming regional peers such as Indonesia, Vietnam, the Philippines, Cambodia and Laos.\nMalaysia recorded the highest overall score among the six Southeast Asian economies assessed, reflecting policy consistency and structural strengths that continue to support investor confidence.\nIn a statement, the investment, trade and industry ministry said the report highlighted Malaysia's strong and balanced investment ecosystem, underpinned by sound economic fundamentals, a robust institutional framework, and a well-developed financial sector.\nIts performance was particularly strong in financial services, where it ranked 17th globally, and in business perception, where it placed 18th.\n“These rankings reflect continued progress in deepening financial markets, improving regulatory quality, and maintaining a conducive business environment that supports investor confidence and long-term capital formation,” said the ministry.\n“Malaysia's strong performance in the report underscores its policy coherence and resilience, distinguishing it from regional competitors while solidifying its standing within a rapidly shifting investment landscape.”\nThe ministry noted that the findings come amid heightened global volatility and geopolitical uncertainty such as the war in the Middle East, making Malaysia's resilience stand out in a challenging investment climate.\nIt said the country’s diversified economic structure, strong institutional frameworks, and proactive policy measures continue to provide stability and resilience, enabling Malaysia to navigate global headwinds while sustaining investor confidence.\nIt said the government has been actively positioning the country as a regional investment gateway, supported by key policy frameworks such as the Madani economic framework, the New Investment Policy, and the New Industrial Master Plan 2030.\nEfforts are also being driven by initiatives like the National Energy Transition Roadmap and the 13th Malaysia Plan, which aim to accelerate digitalisation, support the green transition and promote sustainable, innovation-led growth.","date_published":"2026-04-08T09:44:26.000Z","author":{"name":"FMT Reporters"},"tags":["Highlight","Top News","Malaysia","Business","Local Business","Top Business","business perception","economic resilience","financial services","Global Opportunity Index 2026","investment","Milken Institute","MITI","Southeast Asia"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/8811b637-kl-skyline-envato-elements-pic-070925-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/8811b637-kl-skyline-envato-elements-pic-070925-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bursa-ends-higher-ci-jumps-1-16-as-us-iran-ceasefire-lifts-sentiment","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bursa-ends-higher-ci-jumps-1-16-as-us-iran-ceasefire-lifts-sentiment","title":"Bursa ends higher, CI jumps 1.16% as US-Iran ceasefire lifts sentiment","summary":"Market participation rose modestly, driven by selective buying in index heavyweights and previously oversold sectors, says analyst.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/9f112cd6-bursa-week-2-080426.webp\")
KUALA LUMPUR: Bursa Malaysia ended broadly higher, with the benchmark index rising 1.16% to close near the 1,700 mark, supported by positive sentiment following news of a two-week ceasefire between the US and Iran, which includes Tehran allowing safe passage through the Strait of Hormuz.
\nAt 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 19.45 points to its intraday high of 1,696.31 from yesterday’s close of 1,676.86.
\nThe benchmark index opened 11.65 points higher at 1,688.51 and touched an intraday low of 1,683.58 in early trade.
\nIn the broader market, gainers trounced losers 855 to 410, while 459 counters were unchanged, 941 untraded and 11 suspended.
\nTurnover increased to 3.77 billion units worth RM3.64 billion from yesterday’s 2.55 billion units worth RM2.58 billion.
\nRakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market participation improved modestly, with selective buying seen across index heavyweights and sectors that were previously oversold.
\nHe added that the fall in crude oil prices also provided some relief to inflation-sensitive sectors while reducing concerns over cost pressures on corporates.
\n“Nevertheless, while we view the ceasefire as a positive development, we maintain a cautious stance as the situation remains fluid and subject to sudden reversals. Investors are likely to stay selective, focussing on defensive and fundamentally strong names while avoiding aggressive positioning,” he told Bernama.
\nIn the near term, the brokerage expects the FBM KLCI to trade within the 1,680–1,710 range as the market waits for clearer direction.
\nMeanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said the agreement between the US and Iran on a two-week ceasefire and the reopening of the Strait of Hormuz have removed the most immediate tail risk, triggering a relief rally across oil, equities, and broader risk assets.
\nWhile easing tensions may allow markets to cautiously reprice rate cut expectations, the transmission is not immediate, as central banks remain anchored to underlying inflation dynamics rather than short-term energy volatility, he added.
\n“This development should therefore be viewed as a pause rather than a full reset. With oil prices still holding above US$90 per barrel and the crisis now stretching into its sixth week, second-round effects are beginning to materialise, particularly through cost pressures and margin compression, which could weigh on corporate earnings,” Sedek told Bernama.
\nHe added that while tactical upside may persist in the near term, structural risks linked to energy, inflation, and geopolitics remained firmly in place.
\nBursa Malaysia moved alongside its regional peers; Japan’s Nikkei 225 Index rallied 5.39% to 56,308.42, South Korea’s Kospi surged 6.87% to 5,872.34, Singapore’s Straits Times Index went up 0.95% to 5,005.03, and Hong Kong’s Hang Seng Index garnered 3.09% to 25,893.02.
\nAmong Bursa Malaysia’s heavyweights, Maybank rose 16 sen to RM11.32, Public Bank put on 10 sen to RM4.70, TNB climbed six sen to RM14.06, and Petronas Chemicals slid 29 sen to RM5.59.
\nOn the most active list, AirAsia X perked up nine sen to RM1.25, VS Industry added one sen to 19.5 sen, Zetrix AI edged up two sen to 76 sen, and Velesto eased 0.5 sen to 34 sen.
\nAmong the top gainers, Nestle jumped RM2.70 to RM101, Petronas Dagangan leapt RM1.02 to RM21.98, Fraser & Neave was 70 sen higher at RM29.40, and Hong Leong Bank increased 60 sen to RM22.10.
\nAs for the top losers, United Plantations dipped RM1.22 to RM32.64, Batu Kawan gave up 36 sen to RM21.42, Hibiscus Petroleum tumbled 25 sen to RM1.94, and Kuala Lumpur Kepong shed 22 sen to RM21.96.
\nOn the index board, the FBM Top 100 Index increased 148.04 points to 12,263.92, the FBM Emas Index rose by 151.68 points to 12,412.93, the FBM Emas Shariah Index gained 97.63 points to 12,241.64, the FBM ACE Index soared by 137.98 points to 4,422.56, and the FBM Mid 70 Index jumped 239.48 points to 17,188.72.
\nBy sector, the financial services index surged 381.60 points to 19,967.72, the plantation index slipped 178.25 points to 8,917.41, the industrial products and services index edged up 0.82 of-a-point to 183.87, and the energy index eased 13.44 points to 797.94.
\nThe Main Market volume rose to 2.09 billion units valued at RM3.31 billion from Tuesday’s 1.79 billion units valued at RM2.44 billion.
\nWarrants turnover swelled to 1.32 billion units worth RM160.31 million from 526.26 million units worth RM53.44 million yesterday.
\nThe ACE Market volume expanded to 357.92 million units valued at RM161.94 million from 229.79 million units valued at RM84.51 million previously.
\nConsumer products and services counters accounted for 291.25 million shares traded on the Main Market, industrial products and services (378.82 million), construction (214.95 million), technology (241.27 million), financial services (103.16 million), property (177.52 million), plantation (54.68 million), real estate investment trusts (18.57 million), closed-end fund (72,700), energy (312.52 million), healthcare (198.3 million), telecommunications and media (20.74 million), transportation and logistics (35.11 million), utilities (45.96 million), and business trusts (35,400).
\n","content_text":"KUALA LUMPUR: Bursa Malaysia ended broadly higher, with the benchmark index rising 1.16% to close near the 1,700 mark, supported by positive sentiment following news of a two-week ceasefire between the US and Iran, which includes Tehran allowing safe passage through the Strait of Hormuz.\nAt 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 19.45 points to its intraday high of 1,696.31 from yesterday’s close of 1,676.86.\nThe benchmark index opened 11.65 points higher at 1,688.51 and touched an intraday low of 1,683.58 in early trade.\nIn the broader market, gainers trounced losers 855 to 410, while 459 counters were unchanged, 941 untraded and 11 suspended.\nTurnover increased to 3.77 billion units worth RM3.64 billion from yesterday’s 2.55 billion units worth RM2.58 billion.\nRakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market participation improved modestly, with selective buying seen across index heavyweights and sectors that were previously oversold.\nHe added that the fall in crude oil prices also provided some relief to inflation-sensitive sectors while reducing concerns over cost pressures on corporates.\n“Nevertheless, while we view the ceasefire as a positive development, we maintain a cautious stance as the situation remains fluid and subject to sudden reversals. Investors are likely to stay selective, focussing on defensive and fundamentally strong names while avoiding aggressive positioning,” he told Bernama.\nIn the near term, the brokerage expects the FBM KLCI to trade within the 1,680–1,710 range as the market waits for clearer direction.\nMeanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said the agreement between the US and Iran on a two-week ceasefire and the reopening of the Strait of Hormuz have removed the most immediate tail risk, triggering a relief rally across oil, equities, and broader risk assets.\nWhile easing tensions may allow markets to cautiously reprice rate cut expectations, the transmission is not immediate, as central banks remain anchored to underlying inflation dynamics rather than short-term energy volatility, he added.\n“This development should therefore be viewed as a pause rather than a full reset. With oil prices still holding above US$90 per barrel and the crisis now stretching into its sixth week, second-round effects are beginning to materialise, particularly through cost pressures and margin compression, which could weigh on corporate earnings,” Sedek told Bernama.\nHe added that while tactical upside may persist in the near term, structural risks linked to energy, inflation, and geopolitics remained firmly in place.\nBursa Malaysia moved alongside its regional peers; Japan’s Nikkei 225 Index rallied 5.39% to 56,308.42, South Korea’s Kospi surged 6.87% to 5,872.34, Singapore’s Straits Times Index went up 0.95% to 5,005.03, and Hong Kong’s Hang Seng Index garnered 3.09% to 25,893.02.\nAmong Bursa Malaysia’s heavyweights, Maybank rose 16 sen to RM11.32, Public Bank put on 10 sen to RM4.70, TNB climbed six sen to RM14.06, and Petronas Chemicals slid 29 sen to RM5.59.\nOn the most active list, AirAsia X perked up nine sen to RM1.25, VS Industry added one sen to 19.5 sen, Zetrix AI edged up two sen to 76 sen, and Velesto eased 0.5 sen to 34 sen.\nAmong the top gainers, Nestle jumped RM2.70 to RM101, Petronas Dagangan leapt RM1.02 to RM21.98, Fraser & Neave was 70 sen higher at RM29.40, and Hong Leong Bank increased 60 sen to RM22.10.\nAs for the top losers, United Plantations dipped RM1.22 to RM32.64, Batu Kawan gave up 36 sen to RM21.42, Hibiscus Petroleum tumbled 25 sen to RM1.94, and Kuala Lumpur Kepong shed 22 sen to RM21.96.\nOn the index board, the FBM Top 100 Index increased 148.04 points to 12,263.92, the FBM Emas Index rose by 151.68 points to 12,412.93, the FBM Emas Shariah Index gained 97.63 points to 12,241.64, the FBM ACE Index soared by 137.98 points to 4,422.56, and the FBM Mid 70 Index jumped 239.48 points to 17,188.72.\nBy sector, the financial services index surged 381.60 points to 19,967.72, the plantation index slipped 178.25 points to 8,917.41, the industrial products and services index edged up 0.82 of-a-point to 183.87, and the energy index eased 13.44 points to 797.94.\nThe Main Market volume rose to 2.09 billion units valued at RM3.31 billion from Tuesday’s 1.79 billion units valued at RM2.44 billion.\nWarrants turnover swelled to 1.32 billion units worth RM160.31 million from 526.26 million units worth RM53.44 million yesterday.\nThe ACE Market volume expanded to 357.92 million units valued at RM161.94 million from 229.79 million units valued at RM84.51 million previously.\nConsumer products and services counters accounted for 291.25 million shares traded on the Main Market, industrial products and services (378.82 million), construction (214.95 million), technology (241.27 million), financial services (103.16 million), property (177.52 million), plantation (54.68 million), real estate investment trusts (18.57 million), closed-end fund (72,700), energy (312.52 million), healthcare (198.3 million), telecommunications and media (20.74 million), transportation and logistics (35.11 million), utilities (45.96 million), and business trusts (35,400).","date_published":"2026-04-08T09:28:25.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Bursa Malaysia","FMTBizMarket","investors confidence","local market","positive sentiment","US Iran ceasefire"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/9f112cd6-bursa-week-2-080426.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/9f112cd6-bursa-week-2-080426.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/german-factory-orders-rise-in-february-but-energy-shock-looms","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/german-factory-orders-rise-in-february-but-energy-shock-looms","title":"German factory orders rise in February but energy shock looms","summary":"New orders, a key indicator of future business activity, rose 0.9% from a month earlier, following a near 11% drop in January.","content_html":"FRANKFURT: German industrial orders rebounded in February due to strong overseas demand, data showed Wednesday, but officials warned that the Middle East war’s energy shock would likely derail the positive momentum.
\nNew orders, a key indicator of future business activity, rose 0.9% from a month earlier, according to preliminary figures from statistics agency Destatis, slightly below forecasts.
\nIt followed a near 11% drop in January.
\nDespite some volatility, the indicator has generally been trending up since mid-2025 as the government increases public spending in a bid to revive Europe’s struggling biggest economy.
\nBut the latest figures concern the period immediately before the outbreak of the US-Israeli war against Iran, which has sent oil and gas prices surging, a huge burden for Germany’s power-hungry manufacturers.
\nThe positive momentum “is likely to be temporarily dampened as a result of the energy price shock associated with the conflict in the Middle East,” the economy ministry said in a statement.
\nOverseas demand surged 4.7% in February while domestic orders dropped 4.4%, according to Destatis.
\nThere was good news for the troubled auto sector, where orders rose 3.8%, and there were also strong increases in demand for metal products.
\nBut there was a near 26-percent month-on-month decline in the category of transport equipment that includes military vehicles, aircraft, ships and trains.
\nHopes for a recovery in Germany this year following several bleak years have been dampened due to the energy shock unleashed by the war.
\nLast week, leading economic institutes more than halved their growth forecast for this year and are now predicting expansion of just 0.6%.
\n","content_text":"FRANKFURT: German industrial orders rebounded in February due to strong overseas demand, data showed Wednesday, but officials warned that the Middle East war's energy shock would likely derail the positive momentum.\nNew orders, a key indicator of future business activity, rose 0.9% from a month earlier, according to preliminary figures from statistics agency Destatis, slightly below forecasts.\nIt followed a near 11% drop in January.\nDespite some volatility, the indicator has generally been trending up since mid-2025 as the government increases public spending in a bid to revive Europe's struggling biggest economy.\nBut the latest figures concern the period immediately before the outbreak of the US-Israeli war against Iran, which has sent oil and gas prices surging, a huge burden for Germany's power-hungry manufacturers.\nThe positive momentum \"is likely to be temporarily dampened as a result of the energy price shock associated with the conflict in the Middle East,\" the economy ministry said in a statement.\nOverseas demand surged 4.7% in February while domestic orders dropped 4.4%, according to Destatis.\nThere was good news for the troubled auto sector, where orders rose 3.8%, and there were also strong increases in demand for metal products.\nBut there was a near 26-percent month-on-month decline in the category of transport equipment that includes military vehicles, aircraft, ships and trains.\nHopes for a recovery in Germany this year following several bleak years have been dampened due to the energy shock unleashed by the war.\nLast week, leading economic institutes more than halved their growth forecast for this year and are now predicting expansion of just 0.6%.","date_published":"2026-04-08T08:39:05.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","auto sector","Energy shock","German industry","Germany economy","industrial orders","manufacturing growth","Metal products","Middle East war","oil prices","Overseas demand"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/8ee9de4c-13005520_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/8ee9de4c-13005520_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/highlight/2026/04/08/petchem-hibiscus-nosedive-after-trump-declares-ceasefire-with-iran","url":"https://www.freemalaysiatoday.com/category/highlight/2026/04/08/petchem-hibiscus-nosedive-after-trump-declares-ceasefire-with-iran","title":"PetChem, Hibiscus nosedive after Trump declares ceasefire with Iran","summary":"Petronas Chemicals shares fell as much as 20% and Hibiscus Petroleum tumbled 15% after the ceasefire announcement.","content_html":"![\"petronas](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/70f06967-petronas-oil-refinery-pengerang-petronas-pic-090824.webp\")
PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) and Hibiscus Petroleum Bhd shares, which surged after the US attacked Iran, plunged today after the warring parties agreed to a two-week ceasefire and oil prices fell sharply.
\nPetChem, which soared as much as 105% from its pre-war price, tumbled as much as RM1.19 or 20% to RM4.69 in early trading. The stock pared some of its losses to settle at RM5.64 or 4.1% lower at the mid-day break, valuing the group at RM45.12 billion.
\nThe sharp drop also led to a suspension of short selling in the stock for the rest of the day, with short selling set to resume tomorrow. PetChem is the chemical arm of national oil company Petroliam Nasional Bhd (Petronas).
\nThe shares of Hibiscus, which had risen as much as 54% from its pre-war price, fell nearly 15% or 32 sen to RM1.87 before clawing back to RM1.94, or 11.4% lower, at the mid-day break.
\nAt this price, Malaysia’s first independent oil and gas exploration and production company is valued at RM1.43 billion.
\nFounded in 2007 and listed in 2011, Hibiscus operates assets like North Sabah and Anasuria in the North Sea, producing about 26,500 barrels of oil equivalent per day.
\nBoth these companies had benefitted from surging oil prices following the outbreak of the conflict and the de facto blockade of the Strait of Hormuz by Iran.
\nOil slid the most in almost six years and stocks surged after the US and Iran agreed to the ceasefire, giving markets a temporary respite.
\nWest Texas Intermediate (WTI) crude tumbled as much as 19% and Brent slid as much as 16% after US president Donald Trump suspended bombings on Iran, a move that will help resume oil flows through the strait. Iran said safe passage through the chokepoint will be possible during that period.
\nAt the time of writing, WTI crude was trading at US$95.43 while Brent was at US$93.85.
\nThe ceasefire deal buys time for the two sides to reach a longer agreement to end the war, which has killed thousands of people and sparked a global energy crisis.
\nTrump’s decision is a dramatic climb-down from a shocking social media post yesterday, in which he warned “a whole civilisation will die tonight” if Iran didn’t give in to the US’ demands.
\nAnalysts previously said PetChem was a prime beneficiary of the Iran crisis as it gets its feedstock supplies from within Malaysia rather than the Middle East, where deliveries have ground to a virtual halt.
\nThe group operates 21 manufacturing sites and 54 production plants globally with a capacity of 16.8 million metric tonnes per annum.
\nDespite the sharp drop in its share price, MBSB Research kept its recommendation on PetChem unchanged. The research house recently upgraded its call to “buy” from “neutral”, with a revised target price of RM6.60 from RM3.01 previously.
\n","content_text":"PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) and Hibiscus Petroleum Bhd shares, which surged after the US attacked Iran, plunged today after the warring parties agreed to a two-week ceasefire and oil prices fell sharply.\nPetChem, which soared as much as 105% from its pre-war price, tumbled as much as RM1.19 or 20% to RM4.69 in early trading. The stock pared some of its losses to settle at RM5.64 or 4.1% lower at the mid-day break, valuing the group at RM45.12 billion.\nThe sharp drop also led to a suspension of short selling in the stock for the rest of the day, with short selling set to resume tomorrow. PetChem is the chemical arm of national oil company Petroliam Nasional Bhd (Petronas).\nThe shares of Hibiscus, which had risen as much as 54% from its pre-war price, fell nearly 15% or 32 sen to RM1.87 before clawing back to RM1.94, or 11.4% lower, at the mid-day break.\nAt this price, Malaysia’s first independent oil and gas exploration and production company is valued at RM1.43 billion.\nFounded in 2007 and listed in 2011, Hibiscus operates assets like North Sabah and Anasuria in the North Sea, producing about 26,500 barrels of oil equivalent per day.\nBoth these companies had benefitted from surging oil prices following the outbreak of the conflict and the de facto blockade of the Strait of Hormuz by Iran.\nOil slid the most in almost six years and stocks surged after the US and Iran agreed to the ceasefire, giving markets a temporary respite.\nWest Texas Intermediate (WTI) crude tumbled as much as 19% and Brent slid as much as 16% after US president Donald Trump suspended bombings on Iran, a move that will help resume oil flows through the strait. Iran said safe passage through the chokepoint will be possible during that period.\nAt the time of writing, WTI crude was trading at US$95.43 while Brent was at US$93.85.\nThe ceasefire deal buys time for the two sides to reach a longer agreement to end the war, which has killed thousands of people and sparked a global energy crisis.\nTrump’s decision is a dramatic climb-down from a shocking social media post yesterday, in which he warned “a whole civilisation will die tonight” if Iran didn’t give in to the US' demands.\nAnalysts previously said PetChem was a prime beneficiary of the Iran crisis as it gets its feedstock supplies from within Malaysia rather than the Middle East, where deliveries have ground to a virtual halt.\nThe group operates 21 manufacturing sites and 54 production plants globally with a capacity of 16.8 million metric tonnes per annum.\nDespite the sharp drop in its share price, MBSB Research kept its recommendation on PetChem unchanged. The research house recently upgraded its call to “buy” from “neutral”, with a revised target price of RM6.60 from RM3.01 previously.","date_published":"2026-04-08T08:33:48.000Z","author":{"name":"Lee Min Keong"},"tags":["Highlight","Business","Local Business","Top Business","ceasefire","FMTBiz Corporate","Hibiscus Petroleum Bhd","Iran crisis","Petronas Chemicals Group Bhd","Strait of Hormuz","US"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/70f06967-petronas-oil-refinery-pengerang-petronas-pic-090824.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/70f06967-petronas-oil-refinery-pengerang-petronas-pic-090824.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bain-capitals-data-centre-unit-cuts-ties-with-nvidia-buyer-after-us-probe","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bain-capitals-data-centre-unit-cuts-ties-with-nvidia-buyer-after-us-probe","title":"Bain Capital’s data centre unit cuts ties with Nvidia buyer after US probe","summary":"Bridge Data Centres removed a Southeast Asian company from its Malaysian computing hub after the US suspected it of smuggling Nvidia chips.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/04cde0d3-bridge_data_centres_-_my06.original_1600x1000_1.webp\")
SINGAPORE: Bain Capital’s Bridge Data Centres (BDC) has removed from its Malaysian computing hub a Southeast Asian company that the US suspects of smuggling Nvidia Corp chips.
\nThe company replaced Megaspeed International Pte Ltd with cloud provider Zenlayer Inc at its Malaysian facility, people familiar with the matter said, citing a memo the Bain-owned firm sent to its lenders in February.
\nThe data centre operator didn’t cite a reason for the switch in the letter, which was sent to the providers of a recent US$2.8 billion loan, the people said, asking not to be identified discussing private matters.
\nThe change follows a US government probe into Megaspeed’s ownership structure and whether it smuggled advanced Nvidia AI chips to China in violation of American export restrictions.
\nThe removal of Megaspeed may help BDC reduce its exposure to scrutiny from US authorities.
\nWashington has intensified oversight of advanced US technology exports amid an escalating battle between the world’s two superpowers for artificial intelligence dominance.
\nFor Megaspeed, one question is what happens to the vast quantities of Nvidia-powered AI servers that the chipmaker observed at BDC’s facilities – Megaspeed’s largest site by far – last fall.
\nSingapore-based Megaspeed is what’s called a neocloud, a specialised cloud-computing provider used by AI services.
\nNvidia declined to comment on whether it was aware of the change at BDC or whether it had visited Megaspeed’s operations there in recent months.
\nThe chipmaker performed spot checks across Megaspeed’s Southeast Asia footprint several times last year, and said in December that it would do so again “in the near future.”
\nRepresentatives for Bain Capital, BDC and Zenlayer declined to comment. Megaspeed didn’t respond to a request for comment.
\n“In its February letter to lenders, BDC said that all the 68.4MW of capacity earmarked for Megaspeed had been replaced by Los Angeles-based Zenlayer, a cloud infrastructure provider specialising in AI training models,” the people said.
\nBDC is one of the biggest data centre operators in Asia, a region that’s expected to get some US$800 billion of investment by 2030.
\nBank loans are a key way for BDC to finance its expansion, and such deals hinge on its ability to demonstrate steady cash flows from tenants.
\nIn order to grow, BDC needs billions more and began engaging banks for additional capital around the same time it sent the letter.
\nIn March, the data operator was in talks with lenders to raise US$6 billion to fund its entry into Thailand.
\nThe same month, it also sought to double the size of an existing loan to at least US$5 billion, building on an original facility aimed at expansion in Malaysia.
\n","content_text":"SINGAPORE: Bain Capital’s Bridge Data Centres (BDC) has removed from its Malaysian computing hub a Southeast Asian company that the US suspects of smuggling Nvidia Corp chips.\nThe company replaced Megaspeed International Pte Ltd with cloud provider Zenlayer Inc at its Malaysian facility, people familiar with the matter said, citing a memo the Bain-owned firm sent to its lenders in February.\nThe data centre operator didn't cite a reason for the switch in the letter, which was sent to the providers of a recent US$2.8 billion loan, the people said, asking not to be identified discussing private matters.\nThe change follows a US government probe into Megaspeed’s ownership structure and whether it smuggled advanced Nvidia AI chips to China in violation of American export restrictions.\nThe removal of Megaspeed may help BDC reduce its exposure to scrutiny from US authorities.\nWashington has intensified oversight of advanced US technology exports amid an escalating battle between the world’s two superpowers for artificial intelligence dominance.\nFor Megaspeed, one question is what happens to the vast quantities of Nvidia-powered AI servers that the chipmaker observed at BDC's facilities - Megaspeed’s largest site by far - last fall.\nSingapore-based Megaspeed is what’s called a neocloud, a specialised cloud-computing provider used by AI services.\nNvidia declined to comment on whether it was aware of the change at BDC or whether it had visited Megaspeed’s operations there in recent months.\nThe chipmaker performed spot checks across Megaspeed’s Southeast Asia footprint several times last year, and said in December that it would do so again “in the near future.”\nRepresentatives for Bain Capital, BDC and Zenlayer declined to comment. Megaspeed didn’t respond to a request for comment.\n\"In its February letter to lenders, BDC said that all the 68.4MW of capacity earmarked for Megaspeed had been replaced by Los Angeles-based Zenlayer, a cloud infrastructure provider specialising in AI training models,\" the people said.\nBDC is one of the biggest data centre operators in Asia, a region that’s expected to get some US$800 billion of investment by 2030.\nBank loans are a key way for BDC to finance its expansion, and such deals hinge on its ability to demonstrate steady cash flows from tenants.\nIn order to grow, BDC needs billions more and began engaging banks for additional capital around the same time it sent the letter.\nIn March, the data operator was in talks with lenders to raise US$6 billion to fund its entry into Thailand.\nThe same month, it also sought to double the size of an existing loan to at least US$5 billion, building on an original facility aimed at expansion in Malaysia.","date_published":"2026-04-08T06:15:02.000Z","author":{"name":"Bloomberg"},"tags":["Business","Local Business","World Business","Top Business","AI","Asia","Bain Capital","BDC","Bridge Data Centres","China","exports","Megaspeed International Pte Ltd","NVIDIA","sea","the US","Zenlayer Inc"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/04cde0d3-bridge_data_centres_-_my06.original_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/04cde0d3-bridge_data_centres_-_my06.original_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/china-hong-kong-stocks-rally-as-us-iran-ceasefire-boosts-sentiment","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/china-hong-kong-stocks-rally-as-us-iran-ceasefire-boosts-sentiment","title":"China, Hong Kong stocks rally as US-Iran ceasefire boosts sentiment","summary":"Investors expect the rebound in China's shares to be relatively mild, given that they haven't experienced a meaningful selloff amid the Iran war.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/12/23c695c7-nikkei-asia-stock-bloomberg-21012019_1600x1000_1.webp\")
HONG KONG: China and Hong Kong stocks jumped on Wednesday as a US ceasefire deal with Iran lifted risk appetite.
\nChina’s blue-chip CSI300 Index advanced 2.8% by the lunch break, while the Shanghai Composite Index gained 1.9%
\nHong Kong benchmark Hang Seng jumped 2.8%. Hong Kong-listed tech giants surged 4.4%
\nThe two-week ceasefire agreement has sparked a relief rally across major Asian stocks and currencies, thanks to the easing geopolitical tensions.
\nGold and semiconductors sectors led the rally, up more than 6% each, while energy stocks dropped 2.8%.
\nIn Hong Kong, index heavyweight Meituan 3690 soared 9.9% on easing regulatory risks. Semiconductors and real estate companies also outperformed.
\nToday’s rally looks “broader than pure geopolitical relief trade,” said Charu Chanana, chief investment strategist at Saxo, citing the jump in Hong Kong property stocks as a sign that investors are reacting to the improving demand.
\n“The rally can stretch further near term,” she added, especially if lower oil, yuan strength and improving Hong Kong property sentiment keep reinforcing each other.
\nOn policy front, markets believe Chinese policymakers will maintain a wait-and-see approach unless external shocks to the economy increase significantly.
\nSome investors expect the rebound in China’s shares to be relatively mild, given they haven’t experienced a meaningful selloff amid the Iran war.
\n“As a result, the scope for a rebound, if and when geopolitical risks ease, appears more limited,” Yan Wang, chief EM and China Strategist at Alpine Macro, said in a note.
\nThe smaller Shenzhen index was up 3.45%, start-up board ChiNext Composite index was higher by 4.81% and Shanghai’s tech-focused STAR50 index was up 5.05%.
\nMSCI’s Asia ex-Japan stock index firmed by 4.96%, while Nikkei index was up 5.27%.
\n","content_text":"HONG KONG: China and Hong Kong stocks jumped on Wednesday as a US ceasefire deal with Iran lifted risk appetite.\nChina's blue-chip CSI300 Index advanced 2.8% by the lunch break, while the Shanghai Composite Index gained 1.9%\nHong Kong benchmark Hang Seng jumped 2.8%. Hong Kong-listed tech giants surged 4.4%\nThe two-week ceasefire agreement has sparked a relief rally across major Asian stocks and currencies, thanks to the easing geopolitical tensions.\nGold and semiconductors sectors led the rally, up more than 6% each, while energy stocks dropped 2.8%.\nIn Hong Kong, index heavyweight Meituan 3690 soared 9.9% on easing regulatory risks. Semiconductors and real estate companies also outperformed.\nToday's rally looks \"broader than pure geopolitical relief trade,\" said Charu Chanana, chief investment strategist at Saxo, citing the jump in Hong Kong property stocks as a sign that investors are reacting to the improving demand.\n\"The rally can stretch further near term,\" she added, especially if lower oil, yuan strength and improving Hong Kong property sentiment keep reinforcing each other.\nOn policy front, markets believe Chinese policymakers will maintain a wait-and-see approach unless external shocks to the economy increase significantly.\nSome investors expect the rebound in China's shares to be relatively mild, given they haven't experienced a meaningful selloff amid the Iran war.\n\"As a result, the scope for a rebound, if and when geopolitical risks ease, appears more limited,\" Yan Wang, chief EM and China Strategist at Alpine Macro, said in a note.\nThe smaller Shenzhen index was up 3.45%, start-up board ChiNext Composite index was higher by 4.81% and Shanghai's tech-focused STAR50 index was up 5.05%.\nMSCI's Asia ex-Japan stock index firmed by 4.96%, while Nikkei index was up 5.27%.","date_published":"2026-04-08T05:52:34.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","China","gold","Hong Kong ceasefire","Middle East","oil","semiconductors","Stock Market","Yen","yuan"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/12/23c695c7-nikkei-asia-stock-bloomberg-21012019_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/12/23c695c7-nikkei-asia-stock-bloomberg-21012019_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/solar-push-helps-pakistan-temper-gulf-energy-shock","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/solar-push-helps-pakistan-temper-gulf-energy-shock","title":"Solar push helps Pakistan temper Gulf energy shock","summary":"The uptake of solar around 2018 helped the country avoid over US$12 billion in oil and gas imports by February this year.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/07/7442d76f-pakistan-solar-16072025.webp\")
LAHORE: Pakistan’s solar power push has cushioned the full impact of the war in the Middle East, analysts said, despite lingering concerns over fuel supplies and rising prices.
\nA study published last month assessed that the uptake of solar around 2018 helped the country avoid more than US$12 billion in oil and gas imports up to February this year.
\n“At projected market prices, it could save a further US$6.3 billion by the end of 2026,” said Renewables First and the Centre for Research on Energy and Clean Air.
\nIn the bustling side streets of Lahore, in northeast Pakistan, shopkeeper Aftab Ahmed, 49, was out shopping for solar panels to install at home to help him cut costs.
\n“The current fuel situation in our country is such that fuel has gone beyond the reach of the common person,” he told AFP last Friday.
\n“It has become so expensive that an average person can no longer afford fuel for a motorcycle or a car. Fuel prices are also affecting electricity bills, leading to further increases.
\n“If we shift towards solar energy, at least some savings can be achieved from one side,” he said.
\nHours earlier, the government in Islamabad announced an eye-watering 42.7% hike in the price of petrol and 54.9% on diesel.
\nThat brought protesters onto the streets, sparked queues at fuel stations, and led the government to announce free state-run public transport for a month.
\nBoom
\nRooftop solar panels are everywhere in Pakistan, helping to provide uninterrupted power and avoid often lengthy cuts in grid supply, particularly when temperatures soar.
\nNabiya Imran, an energy analyst with Renewables First in the capital Islamabad, said they have also helped ease the burden caused by the disruption to shipping in the Gulf.
\n“Because people in Pakistan have adopted solar over the past several years, this… is providing a cushioning effect against the crisis in the Strait of Hormuz, particularly in the power sector,” she said.
\n“Had we not adopted solar in the first place to the extent that we have, the impacts in the power sector would be much worse,” she added.
\nPakistan’s solar surge does not mean it is immune to the supply shortages that have hit countries across Asia.
\nLast month, the government introduced austerity measures. The working week for public sector employees was cut to four days and schools were shut.
\nThe Pakistan Super League cricket tournament was also cut from six venues to two, and crowds were banned, to save fuel.
\nHowever, solar has made working from home more viable and affordable for Pakistanis because it cuts reliance on the grid and imported gas.
\nMarket forces have largely driven the uptake, which the study called “one of the fastest consumer-led energy transitions on record”.
\nUnlike Western economies, Pakistan did not impose tariffs on Chinese solar technology from 2013 until last year.
\nAs a result, imports jumped from 1GW in 2018 to 51GW early this year.
\nOil and gas price rises after Russia’s full-scale invasion of Ukraine in early 2022 also forced consumers to look for alternatives, as did hefty increases in domestic energy tariffs.
\n“Between 2022 and 2024, Pakistan saw a 40% drop in oil and gas imports,” the study said.
\nSecurity
\nThe International Energy Agency has estimated that more than 40 million of Pakistan’s more than 240 million people do not have access to electricity.
\nManzoor Ishtiaq, whose shop in Lahore sells and installs solar panels, believes making the technology affordable for everyone could help.
\n“There should be a plan that encourages every household to adopt solar energy.
\n“This way, both the government and the public will get relief and long-term benefits,” he said.
\nFor Renewables First’s Nabiya Imran, the Gulf crisis has shown the need for less reliance on fossil fuels and energy security using renewable sources.
\nShe noted that Pakistan spent around 11% of its GDP on fossil fuel imports including oil, coal and liquefied natural gas in the 2024 fiscal year.
\n“That is a big chunk of money to be spending for a country like Pakistan, which could be going towards other aspects of development,” he said.
\nThe key now, she added, would be to push take-up of solar battery storage to prevent the use of fossil fuel-powered thermal plants to keep the lights on at peak times.
\n“Policymakers should also look at the transportation sector to reduce its exposure to global fuel and price shocks and cut emissions through initiatives such as electric vehicles,” she added.
\n","content_text":"LAHORE: Pakistan's solar power push has cushioned the full impact of the war in the Middle East, analysts said, despite lingering concerns over fuel supplies and rising prices.\nA study published last month assessed that the uptake of solar around 2018 helped the country avoid more than US$12 billion in oil and gas imports up to February this year.\n\"At projected market prices, it could save a further US$6.3 billion by the end of 2026,\" said Renewables First and the Centre for Research on Energy and Clean Air.\nIn the bustling side streets of Lahore, in northeast Pakistan, shopkeeper Aftab Ahmed, 49, was out shopping for solar panels to install at home to help him cut costs.\n\"The current fuel situation in our country is such that fuel has gone beyond the reach of the common person,\" he told AFP last Friday.\n\"It has become so expensive that an average person can no longer afford fuel for a motorcycle or a car. Fuel prices are also affecting electricity bills, leading to further increases.\n\"If we shift towards solar energy, at least some savings can be achieved from one side,\" he said.\nHours earlier, the government in Islamabad announced an eye-watering 42.7% hike in the price of petrol and 54.9% on diesel.\nThat brought protesters onto the streets, sparked queues at fuel stations, and led the government to announce free state-run public transport for a month.\nBoom\nRooftop solar panels are everywhere in Pakistan, helping to provide uninterrupted power and avoid often lengthy cuts in grid supply, particularly when temperatures soar.\nNabiya Imran, an energy analyst with Renewables First in the capital Islamabad, said they have also helped ease the burden caused by the disruption to shipping in the Gulf.\n\"Because people in Pakistan have adopted solar over the past several years, this... is providing a cushioning effect against the crisis in the Strait of Hormuz, particularly in the power sector,\" she said.\n\"Had we not adopted solar in the first place to the extent that we have, the impacts in the power sector would be much worse,\" she added.\nPakistan's solar surge does not mean it is immune to the supply shortages that have hit countries across Asia.\nLast month, the government introduced austerity measures. The working week for public sector employees was cut to four days and schools were shut.\nThe Pakistan Super League cricket tournament was also cut from six venues to two, and crowds were banned, to save fuel.\nHowever, solar has made working from home more viable and affordable for Pakistanis because it cuts reliance on the grid and imported gas.\nMarket forces have largely driven the uptake, which the study called \"one of the fastest consumer-led energy transitions on record\".\nUnlike Western economies, Pakistan did not impose tariffs on Chinese solar technology from 2013 until last year.\nAs a result, imports jumped from 1GW in 2018 to 51GW early this year.\nOil and gas price rises after Russia's full-scale invasion of Ukraine in early 2022 also forced consumers to look for alternatives, as did hefty increases in domestic energy tariffs.\n\"Between 2022 and 2024, Pakistan saw a 40% drop in oil and gas imports,\" the study said.\nSecurity\nThe International Energy Agency has estimated that more than 40 million of Pakistan's more than 240 million people do not have access to electricity.\nManzoor Ishtiaq, whose shop in Lahore sells and installs solar panels, believes making the technology affordable for everyone could help.\n\"There should be a plan that encourages every household to adopt solar energy.\n\"This way, both the government and the public will get relief and long-term benefits,\" he said.\nFor Renewables First's Nabiya Imran, the Gulf crisis has shown the need for less reliance on fossil fuels and energy security using renewable sources.\nShe noted that Pakistan spent around 11% of its GDP on fossil fuel imports including oil, coal and liquefied natural gas in the 2024 fiscal year.\n\"That is a big chunk of money to be spending for a country like Pakistan, which could be going towards other aspects of development,\" he said.\nThe key now, she added, would be to push take-up of solar battery storage to prevent the use of fossil fuel-powered thermal plants to keep the lights on at peak times.\n\"Policymakers should also look at the transportation sector to reduce its exposure to global fuel and price shocks and cut emissions through initiatives such as electric vehicles,\" she added.","date_published":"2026-04-08T05:28:21.000Z","author":{"name":"AFP"},"tags":["World","Top World","Business","World Business","Top Business","energy","EV","fuel","Middle East","Middle East war","oil and gas","oil prices","Pakistan","solar power"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/07/7442d76f-pakistan-solar-16072025.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/07/7442d76f-pakistan-solar-16072025.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/us-rejects-aluminium-tariff-relief-request-from-ford","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/us-rejects-aluminium-tariff-relief-request-from-ford","title":"US rejects aluminium tariff relief request from Ford","summary":"Ford petitioned the Trump administration for assistance, asking officials for relief from duties until Novelis' aluminium rolling plant in Oswego, New York returns to full service.","content_html":"![\"Ford\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2ec4c1ee-ford-epaimagespic-170925.webp\")
WASHINGTON: The US government has so far rejected requests from Ford Motor and other US automakers for relief from aluminium tariffs after fires at a Novelis plant created supply bottlenecks for vehicles, the Wall Street Journal reported yesterday.
\nLast week, Ford petitioned the Trump administration for assistance, asking officials for relief from duties at least until Novelis’ aluminium rolling plant in Oswego, New York returns to full service, the report said, citing people with knowledge of the conversations.
\nThe discussions are part of ongoing conversations between automakers and the administration about the impact of president Donald Trump’s tariffs, the report said, adding that the government had not budged so far.
\nReuters could not immediately verify the report. Ford and the White House did not immediately respond to requests for comment.
\nNovelis’ Oswego plant, which supplies material for Ford’s lucrative F-150 truck line, went offline last year after two fires.
\nIn February, parent Hindalco said that it aims to restart the plant towards the end of the second quarter.
\nWhile Novelis has been making up for lost production with aluminium from its plants in South Korea and Europe, the imported metal is subject to a 50% duty under the new tariff regime.
\nThe plant also serves Stellantis and General Motors among other automakers, though Ford is a major consumer because its trucks largely use an aluminium body.
\nFord reported an about 50% fall in quarterly profit in February to US$1 billion as it absorbed the rise in costs from supply constraints caused by the fire at Novelis’ Oswego plant.
\n","content_text":"WASHINGTON: The US government has so far rejected requests from Ford Motor and other US automakers for relief from aluminium tariffs after fires at a Novelis plant created supply bottlenecks for vehicles, the Wall Street Journal reported yesterday.\nLast week, Ford petitioned the Trump administration for assistance, asking officials for relief from duties at least until Novelis' aluminium rolling plant in Oswego, New York returns to full service, the report said, citing people with knowledge of the conversations.\nThe discussions are part of ongoing conversations between automakers and the administration about the impact of president Donald Trump’s tariffs, the report said, adding that the government had not budged so far.\nReuters could not immediately verify the report. Ford and the White House did not immediately respond to requests for comment.\nNovelis' Oswego plant, which supplies material for Ford's lucrative F-150 truck line, went offline last year after two fires.\nIn February, parent Hindalco said that it aims to restart the plant towards the end of the second quarter.\nWhile Novelis has been making up for lost production with aluminium from its plants in South Korea and Europe, the imported metal is subject to a 50% duty under the new tariff regime.\nThe plant also serves Stellantis and General Motors among other automakers, though Ford is a major consumer because its trucks largely use an aluminium body.\nFord reported an about 50% fall in quarterly profit in February to US$1 billion as it absorbed the rise in costs from supply constraints caused by the fire at Novelis' Oswego plant.","date_published":"2026-04-08T04:59:01.000Z","author":{"name":"Reuters"},"tags":["World","Top World","Business","World Business","Top Business","automaker","EU","Europe","Ford","General Motors","novelis","Oswego plant","results","South Korea","Stellantis","tariff"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2ec4c1ee-ford-epaimagespic-170925.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2ec4c1ee-ford-epaimagespic-170925.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/airline-ceos-say-jet-fuel-prices-will-take-months-to-stabilise","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/airline-ceos-say-jet-fuel-prices-will-take-months-to-stabilise","title":"Airline CEOs say jet fuel prices will take months to stabilise","summary":"Carriers grapple with doubled fuel costs as supply shortages drive service cuts and fare hikes to cope with the price shock.","content_html":"![\"jet](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/c29efb87-jet-fuel.jpg\")
HONG KONG: Jet fuel prices will still take months to normalise, Asian airline bosses said, even after Iran agreed to open the Strait of Hormuz as part of a two-week ceasefire deal with US President Donald Trump.
\nWhile crude oil prices fell as much as 16% to below US$100 a barrel Wednesday after Trump announced the ceasefire, the chief executive officers of Malaysia Aviation Group and Thai Airways International Pcl said the impact on prices and supply concerns will remain.
\n“Even if the war stops, it’s going to take many, many more months for the price to stabilise,” Malaysia Aviation’s Nasaruddin Bakar said at an International Air Transport Association event in Singapore.
\nCarriers globally are grappling with a more than doubling of jet fuel costs since the war broke out, and the threat of supply shortages in some regions has forced some airlines to reduce services.
\nThai Airways CEO Chai Eamsiri said this is the worst oil shock in his near-four decade career.
\n“This is the worst one,” he said. “This time is about the infrastructure that was destroyed. It will take some time to call back all the supply, the facilities, the refinery, the infrastructure.”
\nMalaysian low-cost carrier AirAsia X Bhd earlier this week said it had increased fares as much as 40% and hiked fuel surcharges to cope with the price shock.
\nIn the US, United Airlines Holdings Inc has trimmed roughly 5% of capacity. Air New Zealand Ltd has pushed through a second round of cuts to flight schedules and further increased fares to manage with higher oil prices.
\n","content_text":"HONG KONG: Jet fuel prices will still take months to normalise, Asian airline bosses said, even after Iran agreed to open the Strait of Hormuz as part of a two-week ceasefire deal with US President Donald Trump.\nWhile crude oil prices fell as much as 16% to below US$100 a barrel Wednesday after Trump announced the ceasefire, the chief executive officers of Malaysia Aviation Group and Thai Airways International Pcl said the impact on prices and supply concerns will remain.\n“Even if the war stops, it’s going to take many, many more months for the price to stabilise,” Malaysia Aviation’s Nasaruddin Bakar said at an International Air Transport Association event in Singapore.\nCarriers globally are grappling with a more than doubling of jet fuel costs since the war broke out, and the threat of supply shortages in some regions has forced some airlines to reduce services.\nThai Airways CEO Chai Eamsiri said this is the worst oil shock in his near-four decade career.\n“This is the worst one,” he said. “This time is about the infrastructure that was destroyed. It will take some time to call back all the supply, the facilities, the refinery, the infrastructure.”\nMalaysian low-cost carrier AirAsia X Bhd earlier this week said it had increased fares as much as 40% and hiked fuel surcharges to cope with the price shock.\nIn the US, United Airlines Holdings Inc has trimmed roughly 5% of capacity. Air New Zealand Ltd has pushed through a second round of cuts to flight schedules and further increased fares to manage with higher oil prices.","date_published":"2026-04-08T03:58:15.000Z","author":{"name":"Bloomberg"},"tags":["Business","World Business","Top Business","aviation","ceasefire","Iran","jet fuel","Strait of Hormuz","US","war"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/c29efb87-jet-fuel.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/c29efb87-jet-fuel.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/hong-kong-firm-lodges-arbitration-against-maersk-over-panama-ports-takeover","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/hong-kong-firm-lodges-arbitration-against-maersk-over-panama-ports-takeover","title":"Hong Kong firm lodges arbitration against Maersk over Panama ports takeover","summary":"The Panama Ports Company says Maersk broke a contract by siding with Panamanian authorities in a dispute over the Panama Canal.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/93e1c3ed-11667329_1_1600x1000_1.webp\")
PANAMA CITY: A subsidiary of Hong Kong conglomerate CK Hutchison said yesterday it filed an arbitration against shipping giant Maersk, accusing the Danish group of seeking to replace its operations in the Panama Canal.
\nThe Panama Ports Company (PPC) said in a statement that Maersk broke a contract by siding with Panamanian authorities in a dispute over the waterway that saw a court annul in January the PPC’s rights to manage two key ports.
\n“Maersk undermined the contract and aligned with the Republic of Panama in connection with its State campaign against PPC and scheme to replace it through a takeover that installed new port operators,” the company said.
\nThe arbitration will be held in London, PPC said, adding that the claim against Maersk is separate from “ongoing steps by PPC to hold Panama to account for its anti-contract and anti-investor conduct”.
\nThe PPC said that since the takeover in January, a Maersk-affiliated port operator has utilised PPC facilities and information under a “pre-arranged concession contract” to manage the Balboa terminal.
\nPanama declared in February that a Maersk subsidiary, APM Terminals, would operate the port of Balboa, and that Terminal Investment Limited, owned by the logistics giant MSC, would manage the port of Cristobal.
\nThe PPC filed a lawsuit opposing the suspension of its Panama Canal operations in February, and announced a month later it was seeking at least US$2 billion in damages.
\nPanama has been caught up in broader tensions between the US and China, with president Donald Trump last year claiming, without evidence, that China effectively runs the canal.
\nThe US last week reiterated accusations that China had detained Panama-flagged ships in response to the takeover of the key ports – claims Beijing said were fabricated.
\nThe Panama Canal, which connects the Atlantic and Pacific oceans, handles about 40% of US container traffic and 5% of world trade.
\n","content_text":"PANAMA CITY: A subsidiary of Hong Kong conglomerate CK Hutchison said yesterday it filed an arbitration against shipping giant Maersk, accusing the Danish group of seeking to replace its operations in the Panama Canal.\nThe Panama Ports Company (PPC) said in a statement that Maersk broke a contract by siding with Panamanian authorities in a dispute over the waterway that saw a court annul in January the PPC's rights to manage two key ports.\n\"Maersk undermined the contract and aligned with the Republic of Panama in connection with its State campaign against PPC and scheme to replace it through a takeover that installed new port operators,\" the company said.\nThe arbitration will be held in London, PPC said, adding that the claim against Maersk is separate from \"ongoing steps by PPC to hold Panama to account for its anti-contract and anti-investor conduct\".\nThe PPC said that since the takeover in January, a Maersk-affiliated port operator has utilised PPC facilities and information under a \"pre-arranged concession contract\" to manage the Balboa terminal.\nPanama declared in February that a Maersk subsidiary, APM Terminals, would operate the port of Balboa, and that Terminal Investment Limited, owned by the logistics giant MSC, would manage the port of Cristobal.\nThe PPC filed a lawsuit opposing the suspension of its Panama Canal operations in February, and announced a month later it was seeking at least US$2 billion in damages.\nPanama has been caught up in broader tensions between the US and China, with president Donald Trump last year claiming, without evidence, that China effectively runs the canal.\nThe US last week reiterated accusations that China had detained Panama-flagged ships in response to the takeover of the key ports - claims Beijing said were fabricated.\nThe Panama Canal, which connects the Atlantic and Pacific oceans, handles about 40% of US container traffic and 5% of world trade.","date_published":"2026-04-08T03:33:51.000Z","author":{"name":"AFP"},"tags":["World","Top World","Business","World Business","Top Business","arbitration","China","CK Hutchison","Danish","Donald Trump","FIRM","Hong Kong","Maersk","Panama","Panama Canal","ports","the US"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/93e1c3ed-11667329_1_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/01/93e1c3ed-11667329_1_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/dollar-drops-as-trump-ceasefire-prompts-risk-on-turn-for-markets","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/dollar-drops-as-trump-ceasefire-prompts-risk-on-turn-for-markets","title":"Dollar drops as Trump’s ceasefire prompts risk-on turn for markets","summary":"Meanwhile, the euro, yen, Aussie and kiwi rallied hard after US president Donald Trump said he had agreed to a two-week ceasefire with Iran.","content_html":"![\"dollar\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/8269f88c-dollar-freepik-pic-010824-1.webp\")
SINGAPORE: The US dollar sank to its lowest level in two weeks at the start of trading in Asia on Wednesday, while the euro, yen, Aussie and kiwi rallied hard after US president Donald Trump said he had agreed to a two-week ceasefire with Iran.
\nThe yen strengthened 0.6% against the greenback to ¥158.68 per dollar.
\nThe euro was up 0.7% at US$1.167, while the British pound appreciated 0.7% to US$1.3385.
\nThe Australian dollar climbed 1.3% to US$0.7068 as its New Zealand counterpart jumped 1.4% to US$0.5810.
\nTrump had earlier threatened widespread attacks on Iran’s civilian infrastructure.
\nMarkets turned risk-on after the announcement, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz expired.
\nThe US dollar index, which measures the greenback’s strength against a basket of six currencies, was down 1.0% at 98.97, a two-week low.
\nCryptocurrencies also rallied, with Bitcoin advancing 3.4% to US$71,664.41, as Ether surged 5.7% to US$2,234.78.
\n","content_text":"SINGAPORE: The US dollar sank to its lowest level in two weeks at the start of trading in Asia on Wednesday, while the euro, yen, Aussie and kiwi rallied hard after US president Donald Trump said he had agreed to a two-week ceasefire with Iran.\nThe yen strengthened 0.6% against the greenback to ¥158.68 per dollar.\nThe euro was up 0.7% at US$1.167, while the British pound appreciated 0.7% to US$1.3385.\nThe Australian dollar climbed 1.3% to US$0.7068 as its New Zealand counterpart jumped 1.4% to US$0.5810.\nTrump had earlier threatened widespread attacks on Iran's civilian infrastructure.\nMarkets turned risk-on after the announcement, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz expired.\nThe US dollar index, which measures the greenback's strength against a basket of six currencies, was down 1.0% at 98.97, a two-week low.\nCryptocurrencies also rallied, with Bitcoin advancing 3.4% to US$71,664.41, as Ether surged 5.7% to US$2,234.78.","date_published":"2026-04-08T02:39:33.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","Bitcoin","crude","cryptocurrency","currencies","ether","oil prices","Strait of Hormuz","The US dollar"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/8269f88c-dollar-freepik-pic-010824-1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2024/08/8269f88c-dollar-freepik-pic-010824-1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-slides-below-us100-stocks-soar-as-trump-agrees-to-ceasefire","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-slides-below-us100-stocks-soar-as-trump-agrees-to-ceasefire","title":"Oil slides below US$100, stocks soar as Trump agrees to ceasefire","summary":"Prospects of energy flows resuming through the Strait of Hormuz capped weeks of market volatility and geopolitical upheaval.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/88a92726-oil-tanker-truck-02042026.webp\")
SINGAPORE: Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.
\nThe news capped weeks of financial market volatility and geopolitical upheaval after US and Israeli strikes on Iran late February pushed tensions to the brink, with Tehran effectively choking off the strategic waterway that carries about 20% of the world’s oil and gas.
\nUS president Donald Trump on Tuesday agreed to a ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the strait or face devastating attacks on its civilian infrastructure.
\nMarket reaction was swift and dramatic, with US crude futures down around 16% to US$94.59 a barrel, while Brent futures also slid 15% to US$92.35 per barrel.
\nS&P 500 futures leapt over 2%, while European futures jumped over 4%. The US dollar fell broadly, having been the haven of choice during the tumult.
\nIn Asia, Japan’s Nikkei surged about 5% while South Korea’s Kospi .KS11 rose 6%, triggering a halt in trading. That left the MSCI’s broadest index of Asia-Pacific shares outside Japan up 4%.
\nBeyond the immediate relief, investors remain keen to see whether the ceasefire leads to a broader resolution before placing major bets.
\n“Does it mean people are going to take new risks? No, it doesn’t,” said Martin Whetton, head of financial markets strategy at Westpac. “It would have to actually be a lasting peace (to change things). People aren’t actually taking risk.”
\nThe six-week conflict has sent oil prices soaring, reignited inflation fears and thrown the global rates outlook into disarray, forcing governments and companies to scramble for cover against a sudden energy shock.
\nTrump’s social media announcement marked an abrupt reversal from hours earlier, when he issued an extraordinary warning that “a whole civilisation will die tonight” unless his demands were met.
\nCharu Chanana, chief investment strategist at Saxo, said the pivotal test is whether negotiations keep progressing over the next two weeks – and whether insurers and tanker operators regain enough confidence for traffic through Hormuz to run normally again.
\n“That will determine whether this remains just a relief rally or starts to look more like a durable de-escalation.”
\nThe yield on the benchmark US 10-year Treasury note fell 7.9 basis points to 4.261%, its lowest since mid-March. The yield on US 2-year Treasury note sank 10 bps to 3.727%.
\nGold prices rose over 2% to US$4,812 per ounce.
\nIn currencies, the risk-sensitive Australian dollar rose 1.3% to above US$0.7070 and the euro gained 0.76% to US$1.1683. That left the dollar index at 99.047, hovering near a one month low.
\nSome analysts remain sceptical that the ceasefire will translate into lasting peace, warning of likely twists and turns ahead.
\nCarol Kong, a currency strategist at Commonwealth Bank of Australia, said the conflict’s root causes remain unresolved, keeping the risk of re‑escalation firmly on the table.
\n“We maintain our view that the war will run into June. The implication is dollar losses may prove short-lived.”
\n","content_text":"SINGAPORE: Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.\nThe news capped weeks of financial market volatility and geopolitical upheaval after US and Israeli strikes on Iran late February pushed tensions to the brink, with Tehran effectively choking off the strategic waterway that carries about 20% of the world’s oil and gas.\nUS president Donald Trump on Tuesday agreed to a ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the strait or face devastating attacks on its civilian infrastructure.\nMarket reaction was swift and dramatic, with US crude futures down around 16% to US$94.59 a barrel, while Brent futures also slid 15% to US$92.35 per barrel.\nS&P 500 futures leapt over 2%, while European futures jumped over 4%. The US dollar fell broadly, having been the haven of choice during the tumult.\nIn Asia, Japan's Nikkei surged about 5% while South Korea's Kospi .KS11 rose 6%, triggering a halt in trading. That left the MSCI's broadest index of Asia-Pacific shares outside Japan up 4%.\nBeyond the immediate relief, investors remain keen to see whether the ceasefire leads to a broader resolution before placing major bets.\n\"Does it mean people are going to take new risks? No, it doesn't,\" said Martin Whetton, head of financial markets strategy at Westpac. \"It would have to actually be a lasting peace (to change things). People aren't actually taking risk.\"\nThe six-week conflict has sent oil prices soaring, reignited inflation fears and thrown the global rates outlook into disarray, forcing governments and companies to scramble for cover against a sudden energy shock.\nTrump's social media announcement marked an abrupt reversal from hours earlier, when he issued an extraordinary warning that \"a whole civilisation will die tonight\" unless his demands were met.\nCharu Chanana, chief investment strategist at Saxo, said the pivotal test is whether negotiations keep progressing over the next two weeks - and whether insurers and tanker operators regain enough confidence for traffic through Hormuz to run normally again.\n\"That will determine whether this remains just a relief rally or starts to look more like a durable de-escalation.\"\nThe yield on the benchmark US 10-year Treasury note fell 7.9 basis points to 4.261%, its lowest since mid-March. The yield on US 2-year Treasury note sank 10 bps to 3.727%.\nGold prices rose over 2% to US$4,812 per ounce.\nIn currencies, the risk-sensitive Australian dollar rose 1.3% to above US$0.7070 and the euro gained 0.76% to US$1.1683. That left the dollar index at 99.047, hovering near a one month low.\nSome analysts remain sceptical that the ceasefire will translate into lasting peace, warning of likely twists and turns ahead.\nCarol Kong, a currency strategist at Commonwealth Bank of Australia, said the conflict’s root causes remain unresolved, keeping the risk of re‑escalation firmly on the table.\n\"We maintain our view that the war will run into June. The implication is dollar losses may prove short-lived.\"","date_published":"2026-04-08T02:24:35.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","ceasefire","Middle East","oil prices","stocks","Strait of Hormuz"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/88a92726-oil-tanker-truck-02042026.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/88a92726-oil-tanker-truck-02042026.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-shock-turbocharges-asia-fx-intervention-risk","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/oil-shock-turbocharges-asia-fx-intervention-risk","title":"Oil shock turbocharges Asia FX intervention risk","summary":"Many central banks in Asia are currently facing a foreign exchange intervention trilemma, says analyst.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/d0cf9545-dollar_1600x1000_1.webp\")
ORLANDO: Several Asian countries, including India and the Philippines, have already intervened in the foreign exchange (FX) market to support their currencies since the Iran war broke out. They’re unlikely to be the last.
\nAsia, which imports 60% of its crude oil from the Middle East, is the continent most exposed to the energy shock triggered by the Iran war.
\nBrent crude prices have soared 55% since the conflict broke out on Feb 28.
\nAs a result, many Asian countries now potentially face a doom loop of rising energy costs, imported inflation, demand destruction and weakening currencies that could spiral rapidly if not checked.
\nThe MSCI emerging market currency index fell 3% in March, its worst month since September 2022.
\nSeveral currencies from Asian countries running current account deficits unsurprisingly underperformed: India’s rupee, Indonesia’s rupiah and the Philippine peso all slumped to record lows against the US dollar.
\nHowever, even nations with strong external balance sheets, like Japan and South Korea, have come under fire.
\nSouth Korea’s won just hit a 17-year low, while the Japanese yen is historically weak at ¥160 per dollar.
\nThe yen was struggling long before the Iran conflict began, but the war has amplified the risk, leading Tokyo’s finance ministry to crank up its verbal intervention to prevent further weakening.
\nMany central banks in Asia are currently facing an “FX intervention trilemma,” according to Bob Savage, head of markets macro strategy at BNY.
\n“The energy supply shock clearly leads to cost-push inflation, but the currency transmission is problematic because the dollar bid goes up too,” Savage said.
\nUnfortunately for policymakers across the region, unless there is a quick cessation of hostilities in the Middle East, including the full reopening of the Strait of Hormuz, the pressure to intervene will only grow – resulting in even more volatility for FX investors.
\nDollar-denominated double whammy
\nAsia is facing a double whammy from dollar-denominated oil.
\nGlobal crude prices have surged. Brent is now 70% more expensive than it was a year ago, which feeds into Asian countries’ inflation models.
\nOn top of that, the physical shortage of oil across the continent means Asian buyers must pay a premium on physical cargoes and refined products.
\nThat premium above the “paper” price of oil quoted on financial screens has soared to record levels of up to US$40 a barrel.
\nAsia’s oil and gas trade deficit is around 2.1% of GDP, compared with the euro zone’s deficit of 1.5% of GDP, according to economists at Morgan Stanley. The US, remember, is a net exporter of oil and gas.
\nMorgan Stanley estimates that if Brent remains around US$120 a barrel and natural gas stays around US$3 per million British thermal units, Asia’s energy burden would soar to around 6.5% of GDP.
\nThat’s where demand destruction historically kicks in and growth risks intensify.
\nThis isn’t an outlandish scenario – the bank’s oil analysts’ base case scenario is that the Strait of Hormuz remains effectively closed through the end of April.
\nThe impact would be uneven, of course. China would be better insulated, while Thailand, South Korea, Taiwan, India, and Japan would be much more exposed – though even relatively cosseted countries could ultimately suffer if their trading partners take a hit.
\nSell America, buy local
\nGovernments across the continent are already implementing a range of fiscal and other measures to tackle the energy crisis, such as introducing subsidies, export bans on fuel, and releasing national oil and gas reserves. But that probably won’t be enough.
\nIf the energy squeeze persists, authorities across Asia may be compelled to dip into their FX reserves and sell assets like US bonds to ward off inflationary pressures, and in extremis, maybe even pay for fuel imports.
\nThe recent decline in US Treasuries held in custody at the New York Fed on behalf of foreign central banks suggests the Iran war has already prompted some reserve managers to sell dollars for local currency.
\nDeutsche Bank analysts estimate around 80% of the fall in custody holdings in March was down to active selling of Treasuries.
\nMuch of that will have been from Asian central banks. If there is no resolution to the war, currency intervention across the continent is almost certain to spread, which risks triggering a larger selloff in US Treasuries and one of the most volatile periods for Asian currencies in decades.
\n(The opinions expressed here are those of Jamie McGeever, a columnist for Reuters).
\n","content_text":"ORLANDO: Several Asian countries, including India and the Philippines, have already intervened in the foreign exchange (FX) market to support their currencies since the Iran war broke out. They're unlikely to be the last.\nAsia, which imports 60% of its crude oil from the Middle East, is the continent most exposed to the energy shock triggered by the Iran war.\nBrent crude prices have soared 55% since the conflict broke out on Feb 28.\nAs a result, many Asian countries now potentially face a doom loop of rising energy costs, imported inflation, demand destruction and weakening currencies that could spiral rapidly if not checked.\nThe MSCI emerging market currency index fell 3% in March, its worst month since September 2022.\nSeveral currencies from Asian countries running current account deficits unsurprisingly underperformed: India's rupee, Indonesia's rupiah and the Philippine peso all slumped to record lows against the US dollar.\nHowever, even nations with strong external balance sheets, like Japan and South Korea, have come under fire.\nSouth Korea's won just hit a 17-year low, while the Japanese yen is historically weak at ¥160 per dollar.\nThe yen was struggling long before the Iran conflict began, but the war has amplified the risk, leading Tokyo's finance ministry to crank up its verbal intervention to prevent further weakening.\nMany central banks in Asia are currently facing an \"FX intervention trilemma,\" according to Bob Savage, head of markets macro strategy at BNY.\n\"The energy supply shock clearly leads to cost-push inflation, but the currency transmission is problematic because the dollar bid goes up too,\" Savage said.\nUnfortunately for policymakers across the region, unless there is a quick cessation of hostilities in the Middle East, including the full reopening of the Strait of Hormuz, the pressure to intervene will only grow - resulting in even more volatility for FX investors.\nDollar-denominated double whammy\nAsia is facing a double whammy from dollar-denominated oil.\nGlobal crude prices have surged. Brent is now 70% more expensive than it was a year ago, which feeds into Asian countries' inflation models.\nOn top of that, the physical shortage of oil across the continent means Asian buyers must pay a premium on physical cargoes and refined products.\nThat premium above the \"paper\" price of oil quoted on financial screens has soared to record levels of up to US$40 a barrel.\nAsia's oil and gas trade deficit is around 2.1% of GDP, compared with the euro zone's deficit of 1.5% of GDP, according to economists at Morgan Stanley. The US, remember, is a net exporter of oil and gas.\nMorgan Stanley estimates that if Brent remains around US$120 a barrel and natural gas stays around US$3 per million British thermal units, Asia's energy burden would soar to around 6.5% of GDP.\nThat's where demand destruction historically kicks in and growth risks intensify.\nThis isn't an outlandish scenario - the bank's oil analysts' base case scenario is that the Strait of Hormuz remains effectively closed through the end of April.\nThe impact would be uneven, of course. China would be better insulated, while Thailand, South Korea, Taiwan, India, and Japan would be much more exposed – though even relatively cosseted countries could ultimately suffer if their trading partners take a hit.\nSell America, buy local\nGovernments across the continent are already implementing a range of fiscal and other measures to tackle the energy crisis, such as introducing subsidies, export bans on fuel, and releasing national oil and gas reserves. But that probably won't be enough.\nIf the energy squeeze persists, authorities across Asia may be compelled to dip into their FX reserves and sell assets like US bonds to ward off inflationary pressures, and in extremis, maybe even pay for fuel imports.\nThe recent decline in US Treasuries held in custody at the New York Fed on behalf of foreign central banks suggests the Iran war has already prompted some reserve managers to sell dollars for local currency.\nDeutsche Bank analysts estimate around 80% of the fall in custody holdings in March was down to active selling of Treasuries.\nMuch of that will have been from Asian central banks. If there is no resolution to the war, currency intervention across the continent is almost certain to spread, which risks triggering a larger selloff in US Treasuries and one of the most volatile periods for Asian currencies in decades.\n(The opinions expressed here are those of Jamie McGeever, a columnist for Reuters).","date_published":"2026-04-08T01:44:59.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","brent crude","central banks","forex","fx","inflation","Middle East","MSCI","The US dollar","war","Yen"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/d0cf9545-dollar_1600x1000_1.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/d0cf9545-dollar_1600x1000_1.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bursa-opens-higher-amid-cautious-undertone","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/bursa-opens-higher-amid-cautious-undertone","title":"Bursa opens higher amid cautious undertone","summary":"The main index advances 6.74 points to 1,683.60, in line with most regional markets.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/9363ebc8-bursa.webp\")
KUALA LUMPUR: Bursa Malaysia opened higher on Wednesday amid a cautious undertone, in line with most regional markets, after US president Donald Trump suspended planned strikes on Iranian infrastructure for two weeks.
\nAt 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 6.74 points, or 0.40%, to 1,683.60, from Tuesday’s close of 1,676.86.
\nThe benchmark index opened 11.65 points higher at 1,688.51 earlier.
\nMarket breadth, however, was negative, with 367 gainers outnumbering 186 decliners. A total of 198 counters were unchanged, 1,914 untraded and 11 suspended.
\nTurnover stood at 314.62 million shares worth RM205.75 million.
\nOil prices plunged below US$100 per barrel after the ceasefire announcement; Brent crude slipped 13.10% to US$94.96 per barrel, and WTI decreased 14.50% to US$96.57 per barrel at the time of writing. ,
\nApex Securities Bhd said the temporary pause – Trump called it a “double-sided ceasefire” – remains conditional on Iran agreeing to reopen the Strait of Hormuz. It highlights the fragile nature of negotiations and the risk of renewed escalation should talks break down.
\n“The abrupt shift from imminent military action to a conditional pause signals elevated headline risk, with markets likely to remain sensitive to further developments, diplomatic responses from Tehran and any changes to the two-week timeline,” Apex Securities said in a note today.
\nAgainst this backdrop, it added that regional markets were likely to trade cautiously, with investors remaining defensive amid fragile negotiations and elevated geopolitical risk.
\nAmong heavyweights, Maybank jumped 16 sen to RM11.32, Public Bank surged 10 sen to RM4.70, CIMB soared 20 sen to RM7.55, TNB was flat at RM14, and Petronas Chemicals fell RM1.03 to RM4.85.
\nOn the most active list, AirAsia X climbed 10 sen to RM1.26, Capital A increased 2.5 sen to 45.5 sen, VS Industry grew half-a-sen to 19 sen, Reneuco was flat at half-a-sen, and Top Glove trimmed 4.5 sen to 73 sen.
\nAmong top gainers, Nestle expanded by 70 sen to RM99, Malaysian Pacific strengthened by 64 sen to RM29.64, Fraser & Neave put on 52 sen to RM29.22, and Hong Leong Bank garnered 44 sen to RM21.94.
\nTop losers included Batu Kawan, which slipped 78 sen to RM21, United Plantations contracted 30 sen to RM33.56, while SD Guthrie and Hibiscus Petroleum both erased 27 sen to RM5.91 and RM1.92, respectively.
\nOn the index board, the FBM Top 100 Index accumulated 50.33 points to 12,166.21, the FBM Emas Index gained 52.53 points to 12,313.78, the FBM 70 Index improved by 77.27 points to 17,026.51, the FBM Emas Shariah Index went down 39.83 points to 12,104.18, and the FBM ACE Index increased 65.05 points to 4,349.63.
\nBy sector, the Financial Services Index widened by 337.69 points to 19,923.81, the Industrial Products and Services Index eased 4.83 points to 178.22, the Energy Index was 23.22 points easier at 788.16, and the Plantation Index dipped 186.24 points to 8,909.42.
\nMeanwhile, Bursa Malaysia said intraday short selling (IDSS) for Petronas Chemicals has been suspended for the rest of the day because its last done price had dropped more than 15 per cent from the reference price.
\n“The short selling under IDSS will only be activated on Thursday, April 9, 2026, at 8:30 am,” it added.
\nPetronas Chemicals was last traded at RM4.85, down by RM1.03.
\n","content_text":"KUALA LUMPUR: Bursa Malaysia opened higher on Wednesday amid a cautious undertone, in line with most regional markets, after US president Donald Trump suspended planned strikes on Iranian infrastructure for two weeks.\nAt 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 6.74 points, or 0.40%, to 1,683.60, from Tuesday’s close of 1,676.86.\nThe benchmark index opened 11.65 points higher at 1,688.51 earlier.\nMarket breadth, however, was negative, with 367 gainers outnumbering 186 decliners. A total of 198 counters were unchanged, 1,914 untraded and 11 suspended.\nTurnover stood at 314.62 million shares worth RM205.75 million.\nOil prices plunged below US$100 per barrel after the ceasefire announcement; Brent crude slipped 13.10% to US$94.96 per barrel, and WTI decreased 14.50% to US$96.57 per barrel at the time of writing. ,\nApex Securities Bhd said the temporary pause - Trump called it a “double-sided ceasefire” - remains conditional on Iran agreeing to reopen the Strait of Hormuz. It highlights the fragile nature of negotiations and the risk of renewed escalation should talks break down.\n“The abrupt shift from imminent military action to a conditional pause signals elevated headline risk, with markets likely to remain sensitive to further developments, diplomatic responses from Tehran and any changes to the two-week timeline,” Apex Securities said in a note today.\nAgainst this backdrop, it added that regional markets were likely to trade cautiously, with investors remaining defensive amid fragile negotiations and elevated geopolitical risk.\nAmong heavyweights, Maybank jumped 16 sen to RM11.32, Public Bank surged 10 sen to RM4.70, CIMB soared 20 sen to RM7.55, TNB was flat at RM14, and Petronas Chemicals fell RM1.03 to RM4.85.\nOn the most active list, AirAsia X climbed 10 sen to RM1.26, Capital A increased 2.5 sen to 45.5 sen, VS Industry grew half-a-sen to 19 sen, Reneuco was flat at half-a-sen, and Top Glove trimmed 4.5 sen to 73 sen.\nAmong top gainers, Nestle expanded by 70 sen to RM99, Malaysian Pacific strengthened by 64 sen to RM29.64, Fraser & Neave put on 52 sen to RM29.22, and Hong Leong Bank garnered 44 sen to RM21.94.\nTop losers included Batu Kawan, which slipped 78 sen to RM21, United Plantations contracted 30 sen to RM33.56, while SD Guthrie and Hibiscus Petroleum both erased 27 sen to RM5.91 and RM1.92, respectively.\nOn the index board, the FBM Top 100 Index accumulated 50.33 points to 12,166.21, the FBM Emas Index gained 52.53 points to 12,313.78, the FBM 70 Index improved by 77.27 points to 17,026.51, the FBM Emas Shariah Index went down 39.83 points to 12,104.18, and the FBM ACE Index increased 65.05 points to 4,349.63.\nBy sector, the Financial Services Index widened by 337.69 points to 19,923.81, the Industrial Products and Services Index eased 4.83 points to 178.22, the Energy Index was 23.22 points easier at 788.16, and the Plantation Index dipped 186.24 points to 8,909.42.\nMeanwhile, Bursa Malaysia said intraday short selling (IDSS) for Petronas Chemicals has been suspended for the rest of the day because its last done price had dropped more than 15 per cent from the reference price.\n“The short selling under IDSS will only be activated on Thursday, April 9, 2026, at 8:30 am,” it added.\nPetronas Chemicals was last traded at RM4.85, down by RM1.03.","date_published":"2026-04-08T01:36:53.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","Apex Securities","Bursa Malaysia","FBM KLCI","Trump"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/9363ebc8-bursa.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/10/9363ebc8-bursa.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/latest-anthropic-ai-model-finds-cracks-in-software-defences","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/latest-anthropic-ai-model-finds-cracks-in-software-defences","title":"Latest Anthropic AI model finds cracks in software defences","summary":"The AI startup enables cybersecurity specialists and engineers in the open-source community to use Claude Mythos as a defensive weapon.","content_html":"![\"anthropic\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2b92b53f-anthropic.jpg\")
NEW YORK: Anthropic said yesterday its yet-to-be-released artificial intelligence (AI) model called Claude Mythos has proven keenly adept at exposing software weaknesses.
\nMythos has laid bare thousands of vulnerabilities in commonly used applications for which no patch or fix exists, prompting the San Francisco-based AI startup to form an alliance with cybersecurity specialists to bolster defences against hacking.
\n“We have a new model that we’re explicitly not releasing to the public,” Mike Krieger of Anthropic Labs said at a HumanX AI conference in San Francisco.
\nInstead, Anthropic is letting cybersecurity specialists and engineers in the open-source community work with Mythos to use the model as a defensive weapon “sort of arming them ahead of time,” Krieger explained.
\nLeaps in AI model capabilities have come with concerns about hackers using such tools for figuring out passwords or cracking encryption meant to keep data safe.
\nThe oldest of the vulnerabilities uncovered by Mythos dates back 27 years, and none were ostensibly noticed by their makers before being pinpointed by the AI model, according to Anthropic.
\nMythos is the latest generation of Anthropic’s Claude family of AI, and a recent leak of some of its code prompted the startup to release a blog post warning it posed unprecedented cybersecurity risks.
\n“AI models have reached a level of coding capability where they can surpass all but the most skilled humans at finding and exploiting software vulnerabilities,” Anthropic said in a blog post.
\n“The fallout – for economies, public safety, and national security – could be severe,” it said.
\nSoftware vulnerabilities exposed by Mythos were often subtle and difficult to detect without AI, according to Anthropic.
\nAs an example, it said Mythos found a previously unnoticed flaw in video software that had been tested more than 5 million times by its creators.
\nProject Glasswing
\nAs a precaution, Anthropic has shared a version of Mythos with cybersecurity companies CrowdStrike and Palo Alto Networks, as well as with Amazon, Apple and Microsoft in a project it dubbed “Glasswing”.
\nNetworking giants Cisco and Broadcom are taking part in the project, along with the Linux Foundation that promotes the free, open-source Linux computer operating system.
\n“This work is too important and too urgent to do alone,” Cisco chief security and trust officer Anthony Grieco said in a joint release about Glasswing.
\n“AI capabilities have crossed a threshold that fundamentally changes the urgency required to protect critical infrastructure from cyber threats, and there is no going back,” Grieco said.
\nApproximately 40 organisations involved in the design, maintenance or operation of computer systems are said to have joined Glasswing.
\nProject partners are to share their Mythos findings, according to Anthropic, which is providing about US$100 million worth of computing resources for the mission.
\nEarly work with AI models has shown they can help find and fix software and hardware vulnerabilities at a pace and scale not previously possible, according to Grieco.
\n“The window between a vulnerability being discovered and being exploited by an adversary has collapsed – what once took months now happens in minutes with AI,” said Crowdstrik CTO Elia Zaitsev.
\n“Claude Mythos Preview demonstrates what is now possible for defenders at scale, and adversaries will inevitably look to exploit the same capabilities,” Zaitsev said.
\nAnthropic said it has had discussions with the US government regarding Mythos despite a decree by the White House in February to terminate all contracts with the startup.
\nThat directive was put on hold by a federal court judge while a legal challenge by Anthropic works its way through the courts.
\n","content_text":"NEW YORK: Anthropic said yesterday its yet-to-be-released artificial intelligence (AI) model called Claude Mythos has proven keenly adept at exposing software weaknesses.\nMythos has laid bare thousands of vulnerabilities in commonly used applications for which no patch or fix exists, prompting the San Francisco-based AI startup to form an alliance with cybersecurity specialists to bolster defences against hacking.\n\"We have a new model that we're explicitly not releasing to the public,\" Mike Krieger of Anthropic Labs said at a HumanX AI conference in San Francisco.\nInstead, Anthropic is letting cybersecurity specialists and engineers in the open-source community work with Mythos to use the model as a defensive weapon \"sort of arming them ahead of time,\" Krieger explained.\nLeaps in AI model capabilities have come with concerns about hackers using such tools for figuring out passwords or cracking encryption meant to keep data safe.\nThe oldest of the vulnerabilities uncovered by Mythos dates back 27 years, and none were ostensibly noticed by their makers before being pinpointed by the AI model, according to Anthropic.\nMythos is the latest generation of Anthropic's Claude family of AI, and a recent leak of some of its code prompted the startup to release a blog post warning it posed unprecedented cybersecurity risks.\n\"AI models have reached a level of coding capability where they can surpass all but the most skilled humans at finding and exploiting software vulnerabilities,\" Anthropic said in a blog post.\n\"The fallout - for economies, public safety, and national security - could be severe,\" it said.\nSoftware vulnerabilities exposed by Mythos were often subtle and difficult to detect without AI, according to Anthropic.\nAs an example, it said Mythos found a previously unnoticed flaw in video software that had been tested more than 5 million times by its creators.\nProject Glasswing \nAs a precaution, Anthropic has shared a version of Mythos with cybersecurity companies CrowdStrike and Palo Alto Networks, as well as with Amazon, Apple and Microsoft in a project it dubbed \"Glasswing\".\nNetworking giants Cisco and Broadcom are taking part in the project, along with the Linux Foundation that promotes the free, open-source Linux computer operating system.\n\"This work is too important and too urgent to do alone,\" Cisco chief security and trust officer Anthony Grieco said in a joint release about Glasswing.\n\"AI capabilities have crossed a threshold that fundamentally changes the urgency required to protect critical infrastructure from cyber threats, and there is no going back,\" Grieco said.\nApproximately 40 organisations involved in the design, maintenance or operation of computer systems are said to have joined Glasswing.\nProject partners are to share their Mythos findings, according to Anthropic, which is providing about US$100 million worth of computing resources for the mission.\nEarly work with AI models has shown they can help find and fix software and hardware vulnerabilities at a pace and scale not previously possible, according to Grieco.\n\"The window between a vulnerability being discovered and being exploited by an adversary has collapsed - what once took months now happens in minutes with AI,\" said Crowdstrik CTO Elia Zaitsev.\n\"Claude Mythos Preview demonstrates what is now possible for defenders at scale, and adversaries will inevitably look to exploit the same capabilities,\" Zaitsev said.\nAnthropic said it has had discussions with the US government regarding Mythos despite a decree by the White House in February to terminate all contracts with the startup.\nThat directive was put on hold by a federal court judge while a legal challenge by Anthropic works its way through the courts.","date_published":"2026-04-08T01:15:26.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","AI","Anthropic","Claude Mythos","Glasswing"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2b92b53f-anthropic.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/09/2b92b53f-anthropic.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/investors-reactions-to-trump-agreeing-to-two-week-ceasefire-with-iran","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/investors-reactions-to-trump-agreeing-to-two-week-ceasefire-with-iran","title":"Investors’ reactions to Trump agreeing to two-week ceasefire with Iran","summary":"US president Donald Trump announced the deal less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face attacks on its civilian infrastructure.","content_html":"![\"Donald](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/6f59b9d8-donald-trump-epa-images-pic-24226.webp\")
SYDNEY: US president Donald Trump said yesterday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure.
\nOil dived, bonds rallied and stocks surged as the ceasefire was seen as paving the way for a lasting peace and resumption of Gulf oil and gas exports.
\nBelow are some reactions from investors and analysts:
\n“We still have a long way to get back to where we were before this began. The worry now is the markets are unsure of the extent to which the oil price is going to get back to US$75.
\n“This little precipice where actually oil is flowing, no one has a shortage, but it stays at an equilibrium price of US$90, that is actually where you remove the tail risk that central banks are cutting,” Barrenjoey chief rates strategist Andrew Lilley said.
\n“It’s kind of the scenario that results in permanently high yields because we’re going to have damaged infrastructure and a sticky high oil price for months to come, which means that we are going to get higher inflation,” Lilley said.
\n“Restocking energy supplies is the key over the next week as the conflict can reignite very quickly.
\n“This decreases the probability of a recession particularly if more oil, gas, fertiliser can flow in the next week or so,” K2 Asset Management head of research George Boubouras.
\nMarkets are always pragmatic and not complacent as they are looking through the conflict and valuations remain compelling on a one-year view,” Boubouras. added.
\n“This is what happens all the time. Does it mean people are going to take new risks? No, it doesn’t.
\n“It would have to actually be a lasting peace (to change things). People aren’t actually taking risk. This is algos doing stuff,” Westpac head of financial markets strategy Martin Whetton.
\n“President Trump said he agreed to a two-week ceasefire. That’s enough to keep hopes alive that not only will an entire civilisation NOT be destroyed, but we could see oil start flowing through the Strait of Hormuz.
\n“Is it just kicking the can down the road, moving the goal posts, TACO Tuesday, or whatever metaphor we’d like, to only to have tempers flare and bombs drop again? Who knows? But it’s good enough for now to elicit a positive response from the markets,” Annex Wealth Management chief economist Brian Jacobsen.
\n","content_text":"SYDNEY: US president Donald Trump said yesterday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure.\nOil dived, bonds rallied and stocks surged as the ceasefire was seen as paving the way for a lasting peace and resumption of Gulf oil and gas exports.\nBelow are some reactions from investors and analysts:\n\"We still have a long way to get back to where we were before this began. The worry now is the markets are unsure of the extent to which the oil price is going to get back to US$75.\n\"This little precipice where actually oil is flowing, no one has a shortage, but it stays at an equilibrium price of US$90, that is actually where you remove the tail risk that central banks are cutting,\" Barrenjoey chief rates strategist Andrew Lilley said.\n\"It's kind of the scenario that results in permanently high yields because we're going to have damaged infrastructure and a sticky high oil price for months to come, which means that we are going to get higher inflation,\" Lilley said.\n\"Restocking energy supplies is the key over the next week as the conflict can reignite very quickly.\n\"This decreases the probability of a recession particularly if more oil, gas, fertiliser can flow in the next week or so,\" K2 Asset Management head of research George Boubouras.\nMarkets are always pragmatic and not complacent as they are looking through the conflict and valuations remain compelling on a one-year view,\" Boubouras. added.\n\"This is what happens all the time. Does it mean people are going to take new risks? No, it doesn't.\n\"It would have to actually be a lasting peace (to change things). People aren't actually taking risk. This is algos doing stuff,\" Westpac head of financial markets strategy Martin Whetton.\n\"President Trump said he agreed to a two-week ceasefire. That's enough to keep hopes alive that not only will an entire civilisation NOT be destroyed, but we could see oil start flowing through the Strait of Hormuz.\n\"Is it just kicking the can down the road, moving the goal posts, TACO Tuesday, or whatever metaphor we'd like, to only to have tempers flare and bombs drop again? Who knows? But it's good enough for now to elicit a positive response from the markets,\" Annex Wealth Management chief economist Brian Jacobsen.","date_published":"2026-04-08T00:46:46.000Z","author":{"name":"Reuters"},"tags":["World","Top World","Business","World Business","Top Business","bonds rallied","ceasefire","Donald Trump","investors","Iran","Middle East","Oil dived","oil prices","stocks surged","Strait of Hormuz"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/6f59b9d8-donald-trump-epa-images-pic-24226.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/6f59b9d8-donald-trump-epa-images-pic-24226.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/ringgit-rebounds-to-3-99-against-us-dollar-on-improved-sentiment","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/ringgit-rebounds-to-3-99-against-us-dollar-on-improved-sentiment","title":"Ringgit rebounds to 3.99 against US dollar on improved sentiment","summary":"The local note rises to 3.9975/4.0050 after Donald Trump announces a two-week pause in military action against Iran.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/96016a25-ringgit.webp\")
KUALA LUMPUR: The ringgit strengthened to the 3.99 level against the US dollar, supported by improved market sentiment after US president Donald Trump announced a two-week pause in military action against Iran following talks with Pakistani leaders.
\nAt 8am, the local currency rose 0.67% to 3.9975/4.0050 against the greenback, compared with Tuesday’s close of 4.0275/4.0320.
\nBank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Trump had agreed to a two-week truce, describing the move as a “double-sided ceasefire”.
\nAt the time of writing, Brent crude prices fell 15.70% to US$92.12 per barrel, and the US Dollar Index (DXY) declined 0.35% to 99.635 points.
\n“Perhaps that could provide some temporary respite to market sentiments amid heightened economic uncertainties following the shock from the war in Iran,” he noted.
\nAt the opening, the ringgit strengthened against the Japanese yen to 2.5187/2.5238 from 2.5229/2.5258 at Tuesday’s close. It depreciated against the euro to 4.6719/4.6806 from 4.6566/4.6618, and eased versus the British pound to 5.3570/5.3671 from 5.3425/5.3484.
\nThe local currency traded mostly higher against Asean currencies.
\nIt rose against the Singapore dollar to 3.1331/3.1392 from 3.1381/3.1419 at Tuesday’s close, appreciated against the Indonesian rupiah to 233.6/234.2 from 235.4/235.8, and rose against the Philippine peso to 6.63/6.64 from 6.68/6.69 previously.
\nIt was lower against the Thai baht to 12.4572/12.4879 from 12.3809/12.4021.
\n","content_text":"KUALA LUMPUR: The ringgit strengthened to the 3.99 level against the US dollar, supported by improved market sentiment after US president Donald Trump announced a two-week pause in military action against Iran following talks with Pakistani leaders.\nAt 8am, the local currency rose 0.67% to 3.9975/4.0050 against the greenback, compared with Tuesday’s close of 4.0275/4.0320.\nBank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Trump had agreed to a two-week truce, describing the move as a “double-sided ceasefire”.\nAt the time of writing, Brent crude prices fell 15.70% to US$92.12 per barrel, and the US Dollar Index (DXY) declined 0.35% to 99.635 points.\n“Perhaps that could provide some temporary respite to market sentiments amid heightened economic uncertainties following the shock from the war in Iran,” he noted.\nAt the opening, the ringgit strengthened against the Japanese yen to 2.5187/2.5238 from 2.5229/2.5258 at Tuesday’s close. It depreciated against the euro to 4.6719/4.6806 from 4.6566/4.6618, and eased versus the British pound to 5.3570/5.3671 from 5.3425/5.3484.\nThe local currency traded mostly higher against Asean currencies.\nIt rose against the Singapore dollar to 3.1331/3.1392 from 3.1381/3.1419 at Tuesday’s close, appreciated against the Indonesian rupiah to 233.6/234.2 from 235.4/235.8, and rose against the Philippine peso to 6.63/6.64 from 6.68/6.69 previously.\nIt was lower against the Thai baht to 12.4572/12.4879 from 12.3809/12.4021.","date_published":"2026-04-08T00:40:10.000Z","author":{"name":"Bernama"},"tags":["Business","Local Business","Top Business","ceasefire","Mohd Afzanizam Abdul Rashid","Ringgit","US dollar"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/96016a25-ringgit.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/96016a25-ringgit.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/us-eia-warns-fuel-prices-could-rise-for-months-despite-hormuz-reopening","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/us-eia-warns-fuel-prices-could-rise-for-months-despite-hormuz-reopening","title":"US EIA warns fuel prices could rise for months despite Hormuz reopening","summary":"The remarks deviate from Donald Trump’s assurances that consumers will see immediate relief when the war with Iran ends.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/3163b65c-us-fuel-1.jpg\")
NEW YORK: Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the US Energy Information Administration said on Tuesday, deviating from president Donald Trump’s assurances that consumers will see immediate relief when the war with Iran ends.
\nThe US-Israeli war with Iran, now in its second month, has sent oil and fuel prices skyrocketing around the world as Iran has blocked the Strait of Hormuz, a key trade chokepoint responsible for the transiting of one-fifth of the world’s oil and gas.
\nTrump, whose approval rating dipped to new lows as pump prices surged to multi-year highs, has repeatedly told Americans that the sticker shocks will be temporary.
\nHowever, the US Department of Energy’s statistical arm was less certain in its short-term energy outlook report. The agency now sees global benchmark Brent crude oil spot prices averaging US$96 a barrel this year, up from the EIA’s prior forecast of US$78.84, and for both retail gasoline and diesel prices to keep rising.
\nThe agency said full restoration of oil flows through the Strait of Hormuz will take months even after the war ends, keeping prices elevated until flows resume fully and Middle Eastern producers return to normal output.
\n“Just as we had never before seen the strait close, we’ve never seen it reopen. What exactly that looks like remains to be seen,” the EIA said.
\nTrump has used incendiary language in his ultimatum to Iran to open the Strait of Hormuz by the end of Tuesday, suggesting “a whole civilization will die” if his demands are not met. Indirect talks between the US and Iran brokered by Pakistan have not produced a compromise.
\n“We maintain a risk premium on crude oil prices throughout the forecast period as we expect uncertainty around future supply disruptions to keep prices above pre-conflict levels,” the EIA said.
\nUS fuel prices to peak in April
\nUS retail gasoline prices are likely to peak at a monthly average of US$4.30 a gallon in April, and average more than US$3.70 a gallon for the year, the EIA said in its short-term energy outlook series.
\nThe US national average price of gasoline stood at US$4.14 a gallon as of Tuesday, highest since August 2022, AAA data showed. Motor fuel prices could surge past US$5 a gallon, threatening to take out the June 2022 record of US$5.017 a gallon within weeks if there is no clear plan to reopen the Strait of Hormuz, GasBuddy analyst Patrick De Haan told Reuters last week.
\nDiesel prices, meanwhile, have been surging even more rapidly than gasoline as the Middle East is a key supplier of both the fuel and the crude oil grades that yield the greatest diesel volume upon refining.
\nThe EIA said it expects diesel prices to peak at a monthly average of US$5.80 a gallon in April, and average US$4.80 a gallon for the year. Diesel peaked at US$5.82 a gallon in June 2022 in the wake of Russia’s invasion of Ukraine, according to AAA data. As of Tuesday, the average was US$5.65 a gallon, according to AAA.
\nGlobal oil demand hit by Middle East conflict
\nThe EIA on Tuesday also slashed its forecast for global oil demand growth to half its previous estimate due to reports of fuel shortages in parts of the world, and government initiatives aimed at curbing fuel usage and exports.
\nGlobal oil demand is now expected to grow by about 600,000 barrels per day to 104.6 million bpd, down from its prior forecast for growth of 1.2 million bpd this year.
\n“We assume reductions in demand occur primarily in Asia, which is more reliant on crude oil supplies from the Middle East,” the EIA said.
\nOil demand will rebound next year once supply flows return to normal later this year, the agency said. It expects demand growth to average 1.6 million bpd next year.
\n","content_text":"NEW YORK: Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the US Energy Information Administration said on Tuesday, deviating from president Donald Trump's assurances that consumers will see immediate relief when the war with Iran ends.\nThe US-Israeli war with Iran, now in its second month, has sent oil and fuel prices skyrocketing around the world as Iran has blocked the Strait of Hormuz, a key trade chokepoint responsible for the transiting of one-fifth of the world's oil and gas.\nTrump, whose approval rating dipped to new lows as pump prices surged to multi-year highs, has repeatedly told Americans that the sticker shocks will be temporary.\nHowever, the US Department of Energy's statistical arm was less certain in its short-term energy outlook report. The agency now sees global benchmark Brent crude oil spot prices averaging US$96 a barrel this year, up from the EIA's prior forecast of US$78.84, and for both retail gasoline and diesel prices to keep rising.\nThe agency said full restoration of oil flows through the Strait of Hormuz will take months even after the war ends, keeping prices elevated until flows resume fully and Middle Eastern producers return to normal output.\n\"Just as we had never before seen the strait close, we've never seen it reopen. What exactly that looks like remains to be seen,\" the EIA said.\nTrump has used incendiary language in his ultimatum to Iran to open the Strait of Hormuz by the end of Tuesday, suggesting \"a whole civilization will die\" if his demands are not met. Indirect talks between the US and Iran brokered by Pakistan have not produced a compromise.\n\"We maintain a risk premium on crude oil prices throughout the forecast period as we expect uncertainty around future supply disruptions to keep prices above pre-conflict levels,\" the EIA said.\nUS fuel prices to peak in April\nUS retail gasoline prices are likely to peak at a monthly average of US$4.30 a gallon in April, and average more than US$3.70 a gallon for the year, the EIA said in its short-term energy outlook series.\nThe US national average price of gasoline stood at US$4.14 a gallon as of Tuesday, highest since August 2022, AAA data showed. Motor fuel prices could surge past US$5 a gallon, threatening to take out the June 2022 record of US$5.017 a gallon within weeks if there is no clear plan to reopen the Strait of Hormuz, GasBuddy analyst Patrick De Haan told Reuters last week.\nDiesel prices, meanwhile, have been surging even more rapidly than gasoline as the Middle East is a key supplier of both the fuel and the crude oil grades that yield the greatest diesel volume upon refining.\nThe EIA said it expects diesel prices to peak at a monthly average of US$5.80 a gallon in April, and average US$4.80 a gallon for the year. Diesel peaked at US$5.82 a gallon in June 2022 in the wake of Russia's invasion of Ukraine, according to AAA data. As of Tuesday, the average was US$5.65 a gallon, according to AAA.\nGlobal oil demand hit by Middle East conflict\nThe EIA on Tuesday also slashed its forecast for global oil demand growth to half its previous estimate due to reports of fuel shortages in parts of the world, and government initiatives aimed at curbing fuel usage and exports.\nGlobal oil demand is now expected to grow by about 600,000 barrels per day to 104.6 million bpd, down from its prior forecast for growth of 1.2 million bpd this year.\n\"We assume reductions in demand occur primarily in Asia, which is more reliant on crude oil supplies from the Middle East,\" the EIA said.\nOil demand will rebound next year once supply flows return to normal later this year, the agency said. It expects demand growth to average 1.6 million bpd next year.","date_published":"2026-04-07T22:05:25.000Z","author":{"name":"Reuters"},"tags":["Business","World Business","Top Business","Energy Information Administration","fuel prices","Strait of Hormuz","US EIA"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/3163b65c-us-fuel-1.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/04/3163b65c-us-fuel-1.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/global-stocks-mostly-fall-ahead-of-trumps-deadline-for-iran","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/global-stocks-mostly-fall-ahead-of-trumps-deadline-for-iran","title":"Global stocks mostly fall ahead of Trump’s deadline for Iran","summary":"Markets take the US president’s comments with caution, given past moves to soften tariff threats and push back timelines.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/9033e741-wall-street.jpg\")
NEW YORK: Global stock markets mostly retreated Tuesday as investors braced for US president Donald Trump’s looming deadline for Iran to reopen the Strait of Hormuz or face devastating attacks.
\nOil prices jumped early in the day after US-Israeli strikes on the key Iranian oil export terminal of Kharg island. But the market later moderated, with West Texas Intermediate rising a bit and the Brent international benchmark slipping modestly.
\nMajor US indices spent most of the day in negative territory but gained momentum in the final moments of the day after the White House confirmed receipt of a Pakistani proposal to extend Trump’s deadline.
\nBriefing.com analyst Patrick O’Hare described the market as in a “purgatory” state, but still “of the belief that the worst case scenario will be avoided.”
\nTrump had previously vowed to bomb bridges, power plants and other civilian infrastructure in Iran if the country does not reopen the Strait of Hormuz to oil-tanker traffic.
\nWriting on Truth Social Tuesday, Trump elevated his ultimatum for Iran, stating that “a whole civilisation will die tonight, never to be brought back again. I don’t want that to happen, but it probably will.”
\nIt was not clear exactly what he meant by his latest threat, or by what means he intended to carry it out.
\nWhile the S&P 500 spent almost the entire day in the red, a late session rally pushed the broad-based index narrowly positive.
\nMarkets increasingly take Trump’s commentary with a grain of salt, noting prior instances where he watered down tariff threats and delayed deadlines on Iran.
\nThe market will “believe the worst case scenario when it actually sees it,” O’Hare said. “It’s been down this path previous times with this president.”
\nEarlier in Europe, Paris, London and Frankfurt all closed around one percent lower.
\n“The conflict in the Middle East is one long deadline after another and there is a constant stream of promises to end the war coming out of the White House,” said Kathleen Brooks, research director at XTB.
\n“Ultimately no one knows what the president will do next, and this is causing tensions to remain high in financial markets,” she said.
\nIran has effectively blocked the Strait of Hormuz since the start of the war on Feb 28, driving up global oil and gas prices, as around one‑fifth of the world’s oil normally flows through the strait.
\nTehran showed no sign of backing down, with its Revolutionary Guard warning that it will destroy energy installations across the Gulf if US attacks cross its “red lines.”
\nThe hit to fuel supplies from the Middle East has forced governments around the world to unveil economic support measures amid fears of another spike in inflation.
\n","content_text":"NEW YORK: Global stock markets mostly retreated Tuesday as investors braced for US president Donald Trump's looming deadline for Iran to reopen the Strait of Hormuz or face devastating attacks.\nOil prices jumped early in the day after US-Israeli strikes on the key Iranian oil export terminal of Kharg island. But the market later moderated, with West Texas Intermediate rising a bit and the Brent international benchmark slipping modestly.\nMajor US indices spent most of the day in negative territory but gained momentum in the final moments of the day after the White House confirmed receipt of a Pakistani proposal to extend Trump's deadline.\nBriefing.com analyst Patrick O'Hare described the market as in a \"purgatory\" state, but still \"of the belief that the worst case scenario will be avoided.\"\nTrump had previously vowed to bomb bridges, power plants and other civilian infrastructure in Iran if the country does not reopen the Strait of Hormuz to oil-tanker traffic.\nWriting on Truth Social Tuesday, Trump elevated his ultimatum for Iran, stating that \"a whole civilisation will die tonight, never to be brought back again. I don't want that to happen, but it probably will.\"\nIt was not clear exactly what he meant by his latest threat, or by what means he intended to carry it out.\nWhile the S&P 500 spent almost the entire day in the red, a late session rally pushed the broad-based index narrowly positive.\nMarkets increasingly take Trump's commentary with a grain of salt, noting prior instances where he watered down tariff threats and delayed deadlines on Iran.\nThe market will \"believe the worst case scenario when it actually sees it,\" O'Hare said. \"It's been down this path previous times with this president.\"\nEarlier in Europe, Paris, London and Frankfurt all closed around one percent lower.\n\"The conflict in the Middle East is one long deadline after another and there is a constant stream of promises to end the war coming out of the White House,\" said Kathleen Brooks, research director at XTB.\n\"Ultimately no one knows what the president will do next, and this is causing tensions to remain high in financial markets,\" she said.\nIran has effectively blocked the Strait of Hormuz since the start of the war on Feb 28, driving up global oil and gas prices, as around one‑fifth of the world's oil normally flows through the strait.\nTehran showed no sign of backing down, with its Revolutionary Guard warning that it will destroy energy installations across the Gulf if US attacks cross its \"red lines.\"\nThe hit to fuel supplies from the Middle East has forced governments around the world to unveil economic support measures amid fears of another spike in inflation.","date_published":"2026-04-07T21:53:52.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","deadline","Donald Trump","Iran","stock markets","Strait of Hormuz"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/9033e741-wall-street.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/9033e741-wall-street.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/08/asia-shows-interest-in-ukraines-maritime-defence-expertise-says-zelensky","url":"https://www.freemalaysiatoday.com/category/business/2026/04/08/asia-shows-interest-in-ukraines-maritime-defence-expertise-says-zelensky","title":"Asia shows interest in Ukraine’s maritime defence expertise, says Zelensky","summary":"Ukrainian president Volodymyr Zelensky says interest in Ukraine's military technology, which is more advanced and cheaper than traditional weapons, now goes beyond Europe.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/13600770-Volodymyr-Zelensky.webp\")
KYIV: The Ukrainian military is participating in consultations on the Strait of Hormuz, president Volodymyr Zelensky said yesterday, adding that Ukraine’s maritime defence expertise is also of interest in Asia.
\nKyiv sent several hundred specialists to the Middle East in the wake of the war in Iran, aiming to share its battle-tested approach in downing Iranian drones, which Russia used in the early years of its full-scale invasion.
\n“Ukrainian military personnel are taking part in consultations on the further operation of the Strait of Hormuz.
\n“Safe navigation is a global value; we know this from our experience defending the Black Sea,” Zelensky said in his evening address.
\nThroughout the war, Ukraine foiled Russian attempts to fully block its access to the Black Sea, critical for the country’s economy and military.
\nHaving no powerful fleet of its own but relying on innovations, such as naval drones, it forced Russia’s Black Sea fleet out of its home base in Moscow-occupied Crimea.
\nZelensky added that interest in Ukraine’s military technology – at times more advanced and way cheaper than traditional weapons – now goes beyond Europe.
\n“Our diplomats have received a corresponding request from Asian countries, and I have instructed them to work through all this promptly,” he added.
\nZelensky did not mention any country specifically.
\n","content_text":"KYIV: The Ukrainian military is participating in consultations on the Strait of Hormuz, president Volodymyr Zelensky said yesterday, adding that Ukraine's maritime defence expertise is also of interest in Asia.\nKyiv sent several hundred specialists to the Middle East in the wake of the war in Iran, aiming to share its battle-tested approach in downing Iranian drones, which Russia used in the early years of its full-scale invasion.\n\"Ukrainian military personnel are taking part in consultations on the further operation of the Strait of Hormuz.\n\"Safe navigation is a global value; we know this from our experience defending the Black Sea,\" Zelensky said in his evening address.\nThroughout the war, Ukraine foiled Russian attempts to fully block its access to the Black Sea, critical for the country's economy and military.\nHaving no powerful fleet of its own but relying on innovations, such as naval drones, it forced Russia's Black Sea fleet out of its home base in Moscow-occupied Crimea.\nZelensky added that interest in Ukraine's military technology - at times more advanced and way cheaper than traditional weapons - now goes beyond Europe.\n\"Our diplomats have received a corresponding request from Asian countries, and I have instructed them to work through all this promptly,\" he added.\nZelensky did not mention any country specifically.","date_published":"2026-04-07T21:17:29.000Z","author":{"name":"Reuters"},"tags":["World","Top World","Business","World Business","Top Business","Asia","Black Sea fleet","defence","maritime","military","Russia","Strait of Hormuz","Ukraine","Volodymyr Zelensky"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/13600770-Volodymyr-Zelensky.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/12/13600770-Volodymyr-Zelensky.webp"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/07/us-stocks-drop-as-trump-doubles-down-on-iran-threats","url":"https://www.freemalaysiatoday.com/category/business/2026/04/07/us-stocks-drop-as-trump-doubles-down-on-iran-threats","title":"US stocks drop as Trump doubles down on Iran threats","summary":"Stocks had risen Monday on hopes for a ceasefire, but the Dow Jones Industrial Average fell 0.7% early Tuesday.","content_html":"![\"Wall](\"https://media.freemalaysiatoday.com/wp-content/uploads/2025/04/a2e780c4-wall-street-9.jpg\")
NEW YORK: Wall Street stocks retreated early Tuesday while oil prices pushed higher as President Donald Trump doubled down on threats to massively bomb Iran if it doesn’t accept US war demands.
\n“A whole civilization will die tonight,” Trump said on social media, amplifying an earlier vow to level bridges, power plants and other civilian infrastructure if the country does not reopen the Strait of Hormuz to oil-tanker traffic.
\nStocks had risen Monday on hopes for a ceasefire, but the Dow Jones Industrial Average fell 0.7% early Tuesday to 46,368.33.
\nAbout 10 minutes into trading, the broad-based S&P 500 dropped 0.5% to 6,576.59, while the tech-rich Nasdaq Composite Index shed 0.6% to 21,859.32.
\nMarkets view Trump’s extreme rhetoric as a negotiating tactic, said David Waddell, chief investment strategist at Waddell & Associates.
\n“The markets are taking it in stride because they’ve learnt not to over-index Trump’s threats, recognising it’s probably more negotiation than reality,” Waddell said.
\n","content_text":"NEW YORK: Wall Street stocks retreated early Tuesday while oil prices pushed higher as President Donald Trump doubled down on threats to massively bomb Iran if it doesn't accept US war demands.\n\"A whole civilization will die tonight,\" Trump said on social media, amplifying an earlier vow to level bridges, power plants and other civilian infrastructure if the country does not reopen the Strait of Hormuz to oil-tanker traffic.\nStocks had risen Monday on hopes for a ceasefire, but the Dow Jones Industrial Average fell 0.7% early Tuesday to 46,368.33.\nAbout 10 minutes into trading, the broad-based S&P 500 dropped 0.5% to 6,576.59, while the tech-rich Nasdaq Composite Index shed 0.6% to 21,859.32.\nMarkets view Trump's extreme rhetoric as a negotiating tactic, said David Waddell, chief investment strategist at Waddell & Associates.\n\"The markets are taking it in stride because they've learnt not to over-index Trump's threats, recognising it's probably more negotiation than reality,\" Waddell said.","date_published":"2026-04-07T14:09:42.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","Donald Trump","Dow Jones","Iran threat","market volatility","Nasdaq","oil prices","s&p 500","Stock Market","Strait of Hormuz","Wall Street"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/04/a2e780c4-wall-street-9.jpg","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2025/04/a2e780c4-wall-street-9.jpg"},{"id":"https://www.freemalaysiatoday.com/category/business/2026/04/07/ecb-official-calls-for-transition-away-from-fossil-fuels","url":"https://www.freemalaysiatoday.com/category/business/2026/04/07/ecb-official-calls-for-transition-away-from-fossil-fuels","title":"ECB official calls for transition away from fossil fuels","summary":"Europe's dependence on fossil fuel imports is a 'critical vulnerability', making it harder to ensure stable prices.","content_html":"![\"\"](\"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/a60e76a1-ecb_cropped.webp\")
FRANKFURT: Europe’s dependence on fossil fuel imports is a “critical vulnerability” making it harder to ensure stable prices, a senior European Central Bank official warned Tuesday, calling for more investment in green energy.
\n“Europe’s energy dependence increasingly complicates the task of maintaining price stability,” Frank Elderson, a member of the ECB’s executive board, wrote in a blog post.
\nThe continent must “transition now – or pay more later”, Elderson said, arguing that “cutting reliance on imported fossil fuels and accelerating an orderly shift to home‑grown clean energy” would help reduce exposure to geopolitical risks.
\n“Meeting the continent’s clean‑energy targets would weaken the link between volatile global markets and domestic prices,” he said.
\nInflation in the eurozone rose to 2.5% in March, its highest level since January 2025, due to soaring energy prices linked to the war in the Middle East.
\nThe war has also prompted the ECB to revise upwards its inflation forecast for this year to 2.6% from 1.9%.
\nAccording to Elderson, less reliance on fossil fuel imports would mean “fewer shocks to households, firms, public finances and financial markets – and ultimately greater macroeconomic and price stability”.
\nThe price tag of the transition to renewable energy is expected to reach around €660 billion (US$760 billion) a year between 2026 and 2030, according to the European Commission.
\nBut “focusing only on these costs is profoundly misleading”, Elderson said.
\n“Investing in clean, sustainable energy replaces substantial spending on fossil fuels,” he said.
\n“The real question is no longer whether Europe can afford to make the energy transition. It is whether it can afford not to,” he said.
\n","content_text":"FRANKFURT: Europe's dependence on fossil fuel imports is a \"critical vulnerability\" making it harder to ensure stable prices, a senior European Central Bank official warned Tuesday, calling for more investment in green energy.\n\"Europe's energy dependence increasingly complicates the task of maintaining price stability,\" Frank Elderson, a member of the ECB's executive board, wrote in a blog post.\nThe continent must \"transition now – or pay more later\", Elderson said, arguing that \"cutting reliance on imported fossil fuels and accelerating an orderly shift to home‑grown clean energy\" would help reduce exposure to geopolitical risks.\n\"Meeting the continent's clean‑energy targets would weaken the link between volatile global markets and domestic prices,\" he said.\nInflation in the eurozone rose to 2.5% in March, its highest level since January 2025, due to soaring energy prices linked to the war in the Middle East.\nThe war has also prompted the ECB to revise upwards its inflation forecast for this year to 2.6% from 1.9%.\nAccording to Elderson, less reliance on fossil fuel imports would mean \"fewer shocks to households, firms, public finances and financial markets – and ultimately greater macroeconomic and price stability\".\nThe price tag of the transition to renewable energy is expected to reach around €660 billion (US$760 billion) a year between 2026 and 2030, according to the European Commission.\nBut \"focusing only on these costs is profoundly misleading\", Elderson said.\n\"Investing in clean, sustainable energy replaces substantial spending on fossil fuels,\" he said.\n\"The real question is no longer whether Europe can afford to make the energy transition. It is whether it can afford not to,\" he said.","date_published":"2026-04-07T11:21:01.000Z","author":{"name":"AFP"},"tags":["Business","World Business","Top Business","clean energy","ECB warning","energy dependence","Europe Energy","fossil fuels","geopolitical risk","green transition","inflation rise","price stability","Renewable investment"],"image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/a60e76a1-ecb_cropped.webp","banner_image":"https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/a60e76a1-ecb_cropped.webp"}]}