Money & Finance

OPEC and allied oil producers, including Russia, made a small trim in their October output, rolling back September's modest increase. Growing concerns about future demand have driven oil prices down from June's $120 per barrel peak, benefiting drivers with lower gasoline costs while impacting OPEC+ countries' revenues.

SK Hynix will invest 15 trillion won to build a new M15X semiconductor facility in Cheongju, starting construction in October and completing by early 2025. The investment signals continued growth in South Korea's semiconductor manufacturing sector.

Malaysia's palm oil inventories surged 14.5% to 2.03 million tonnes in August, the highest level in over two years. Production climbed 8% to 1.7 million tonnes, driven by favorable rainfall and increased yields. Experts predict a potential slowdown in September production as crop cycles stabilize.

Maybank Investment Bank has been added as a user and supplier under the Islamic Securities Selling and Buying — Negotiated Transaction (ISSBNT) framework. The bank will facilitate Shariah-compliant securities trading while supporting risk management activities for market participants.

Indonesia has dramatically increased fuel prices across the nation, with Pertalite gasoline rising from 51 to 67 cents per liter and diesel from 35 to 46 cents, marking the first price hike in eight years and sparking long lines at gas stations nationwide.

EcoWorld Development Group and Public Bank have signed an MoU to provide special green financing packages for properties with green certifications. The initiative includes preferential pricing and fast-track approval for residential and commercial properties certified by Green Building Index and GreenRE.

Asian stock markets showed mixed performance ahead of crucial US jobs data. Investors are closely watching August employment figures that could influence the Federal Reserve's stance on interest rate hikes. Markets in Shanghai and Seoul gained, while Tokyo and Hong Kong experienced declines, as oil prices rose and economic uncertainty persisted.

Standard Chartered Malaysia introduces SmartStocks, a revolutionary online share trading platform allowing investors to access 12 exchanges across seven global markets from Malaysia. The service offers a single brokerage account with competitive rates, addressing challenges faced by retail investors in accessing international stock markets.

Malaysia attracted RM123.3 billion in investments from January to June 2022, with 1,714 projects generating 57,771 job opportunities. Foreign direct investments dominated at 70.9%, while the services sector played a crucial role in economic recovery.

Arizona Governor Doug Ducey met with Taiwanese President Tsai Ing-wen, celebrating a significant $12 billion semiconductor investment. The partnership underscores Taiwan's crucial role in global chip production and strengthens U.S.-Taiwan economic ties amid ongoing technological competition with China.