Money & Finance

In early 2021, the stock market initially showed promise with rising commodity prices, but the Delta variant caused market volatility. The MSCI emerging market index slipped 1.6% in the first two quarters. Recently, foreign investors injected nearly RM1bil into local equities, helping the FBM KLCI recover approximately half its previous losses.

Malaysia's Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz plans to propose increasing the statutory debt limit from 60% to 65% of GDP. Currently at 58%, the government aims to support businesses and people while maintaining fiscal flexibility. The proposal will be presented to the cabinet next week.

MIDF research highlights positive indicators for automotive industry, including reopening of plants, resumed operations, and well-stocked completely-knocked-down kits to help recover production losses from recent lockdown periods.

The National Highway Traffic Safety Administration has launched a formal safety investigation into Tesla's Autopilot system after identifying 11 crashes involving emergency vehicle scenes since 2018. The probe will examine 765,000 Tesla vehicles equipped with Autopilot since 2014.

Indonesia's economy showed remarkable resilience, growing 7.07% in Q2, marking its strongest performance in 17 years. Despite pulling out of recession, the country faces potential setbacks due to rising COVID-19 infections, which could impact ongoing economic recovery efforts.

Facebook declares Taliban a terrorist organization, banning their content across platforms. Despite efforts to block accounts, Taliban members reportedly continue using WhatsApp for communication, prompting platform vigilance and potential account removals.

Japan has approved a $338 million semiconductor research project with Taiwan Semiconductor Manufacturing Company (TSMC) to develop advanced chip technology. The collaboration aims to enhance Japan's competitiveness in the semiconductor sector, particularly crucial for its automotive industry facing global chip shortages.

Chinese bubble tea brand Nayuki Holdings Ltd. successfully raised $656 million through its Hong Kong initial public offering. The company plans to sell 257.3 million shares priced between HK$17.2 and HK$19.8, with founders potentially becoming billionaires after the listing.

Telecommunications giants Axiata Group and Telenor Asia have completed a strategic merger of their Malaysian wireless operations, creating a new tech powerhouse. The merger aims to enhance digital convergence services, with projected pre-tax profits of 5.7 billion ringgit and significant cost synergies across the combined entity.

UEM Sunrise collaborates with Maybank Islamic's HouzKEY to help first and second-time homebuyers acquire their dream homes. The partnership offers zero payments during construction, zero down payments, and 100% financing for 10 projects, making homeownership more accessible.