Business

Bursa Malaysia concluded Wednesday's trading session with a slight upward movement, gaining 3.08 points to close at 1,491.35. The local market saw mixed performance with more losing stocks than gainers, while the Malaysian ringgit weakened to its lowest point against the US dollar since 1998, trading at 4.5028.

Sarawak is set to enhance its internet infrastructure with a new submarine cable connecting to Singapore and a Tier IV data center. Developed by PP Telecommunication (Irix), these facilities aim to address connectivity challenges and support digital transformation in the state, particularly in rural regions.

OPEC and allied producers, including Russia, slightly reduced oil output for October, trimming supplies by 100,000 barrels per day. The move comes amid recession fears and falling crude prices, which have dropped from June's $120 per barrel peak, providing relief at gas pumps.- EXCERPT: Summarizes key points, highlights impact, and uses relevant keywords

SK Hynix will invest 15 trillion won ($10.9 billion) to build a new semiconductor facility called M15X in Cheongju, south of Seoul. Construction begins in October 2023 and is expected to complete in early 2025, expanding the company's memory chip manufacturing capabilities.

Malaysia's palm oil inventories surged 14.5% to 2.03 million tonnes in August, the highest in over two years. Production climbed 8% to 1.7 million tonnes, boosted by ample rainfall. Experts predict September production growth will slow as yields take time to recover.

Maybank Investment Bank becomes a key user and supplier in Bursa Malaysia's Islamic Securities Selling and Buying Negotiated Transaction framework, enabling Shariah-compliant trading and risk management for market participants.

Indonesia dramatically increased fuel prices by 30%, with Pertalite gasoline rising from 51 to 67 cents per liter and diesel from 35 to 46 cents. Long lines formed at gas stations as citizens rushed to purchase cheaper fuel before the price hike took effect.

EcoWorld Development Group has signed an MoU with Public Bank to provide special end-financing packages for green-certified properties. The Green 5Home and Green Swift Plans offer preferential pricing and fast approvals for residential and non-residential projects, supporting sustainability efforts.

Asian stock markets show mixed performance as investors await crucial US employment data. Shanghai and Seoul advanced, while Tokyo and Hong Kong retreated. The August jobs report may influence Federal Reserve's strategy on interest rates and inflation management.[100 words]

Standard Chartered Malaysia introduces SmartStocks, a revolutionary online share trading platform that allows Malaysian investors to access 12 international stock exchanges through a single account. The platform offers low transaction fees, particularly for Priority Private clients, addressing the challenges of global market access for retail investors.