![MARKET PULSE PM MAY 21, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fpulsepm21_NSTfield_image_socialmedia.var_1747825620.jpg&w=3840&q=100)
MARKET PULSE PM MAY 21, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves.
Bursa Malaysia extended its decline for a fourth consecutive session, underscoring a deepening risk-off sentiment across Malaysia's equity market.
The technology sector led losses with a nearly three per cent drop, as renewed US-China chip trade tensions weighed on sentiment.
Meanwhile, the ringgit strengthened against the greenback, trading at 4.2730.
In the cryptocurrency market, Bitcoin declined to RM454,025.
Ethereum and Solana followed suit, falling to RM10,800 and RM716, respectively.
That wraps up today's Market Pulse.
qDKNC1oa2a0
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
42 minutes ago
- Barnama
1st Meeting Of China-US Economic, Trade Consultation Mechanism Opens In London, Attracting Global Attention
WORLD U.S. Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng pose for a photo with U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China's International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, Britain June 9, 2025. United States Treasury/Handout via REUTERS LONDON, June 10 (Bernama-Xinhua) -- The first meeting of the China-US economic and trade consultation mechanism opened here on Monday, attracting global attention. Chinese Vice Premier He Lifeng, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the meeting with US representatives, Xinhua news agency reported. Business leaders welcomed the meeting, expecting win-win outcomes. "Only through mutual respect can we achieve win-win cooperation," said Yang Ming, CEO of Westwell Holdings (Hong Kong) Ltd, a Chinese artificial intelligence (AI) technology company. Attend the ongoing London Tech Week events, Yang said she wished to see normalised economic and trade relations restored between the two nations, calling on both governments to strengthen collaboration in AI and join forces to create new frontiers in global innovation. OBE Chief Executive Officer at London & Partners Laura Citron told Xinhua that stable trade relationships between the biggest economies in the world would always be a good thing for the global economy, adding that London as a city is a very outward-facing trading economy. "We're very keen to see strong and predictable trade relationships between the U.S. and China," she said. -- BERNAMA-XINHUA
The Star
an hour ago
- The Star
Feature: Chinese-built plant helps upgrade cocoa industry in Cote d'Ivoire
ABIDJAN, June 10 (Xinhua) -- As the rainy season brings a welcome hint of cool relief to Cote d'Ivoire, a hive of activity is unfolding at the PK24 Industrial Park on the northwestern outskirts of Abidjan, the country's economic capital, marked by long queues of cocoa-laden trucks and the bustling movement of workers. Amid the park stands a sleek silver-gray structure -- a newly built cocoa processing complex, where the rich aroma of roasted beans wafts through the air. Inside, Chinese engineers work with their Ivorian counterparts, fine-tuning conveyor systems in preparation for the factory's full-scale operation. Constructed by China Light Industry Nanning Design Engineering Co., Ltd., the complex is scheduled for official handover this month. As Cote d'Ivoire's first state-owned modern cocoa processing facility, it marks a major milestone in the country's drive to upgrade its cocoa industry and move higher up the global value chain. "We're finally processing cocoa on our own land," said Ettien Kouakou Camille, his face glowing with pride. At 32, Camille cultivates more than 10 hectares of cocoa farmland and has spent more than a decade growing the Forastero variety. With the new facility in place, he hopes the premium beans from his hometown can now be transformed into high-value products. "In the past, cocoa was exported without being processed. Now, Chinese companies are helping us change that," Camille said, emphasizing the importance of this project born from China-Cote d'Ivoire cooperation. Covering about 21 hectares, the complex is designed to process 50,000 tonnes of cocoa annually, with a storage capacity of 140,000 tonnes. Tang Chong, project manager of the processing plant, said the facility was built to Chinese technological and quality standards and will serve as a key training base for local cocoa industry professionals upon completion. In the cocoa pre-treatment workshop, 38-year-old operator N'guessan Kouassi wiped the sweat from his brow while monitoring equipment data with his team. "This is the largest state-owned cocoa processing plant in the country. It's giving more young people access to employment and a chance to contribute to society," he said, adding that he hopes more Chinese companies will invest in Cote d'Ivoire to expand opportunities for both agricultural growth and youth employment. For Ogbonin Emmanuel, a translator on the project with a background in construction, the experience has been eye-opening. "I've witnessed the whole transformation process from cocoa to chocolate. Africa needs this kind of advanced production capacity," he said. In the electrical installation section, technician Joel Niamien led his team through final adjustments. "There were some language barriers in the beginning, but now we work in close coordination," he said. "The equipment is more modern, and the processes are more streamlined." "China's agricultural development experience is a vital reference for African countries," said Kobenan Kouassi Adjoumani, minister of state and minister of agriculture and rural development of the country, at the recently concluded seventh edition of the International Exhibition of Agriculture and Animal Resources. He noted that Cote d'Ivoire is currently at a key stage of agricultural modernization. "Chinese companies are not just building factories -- they are bringing integrated solutions to help us upgrade our agricultural value chains," Adjoumani said. As the world's largest producer and exporter of cocoa, Cote d'Ivoire accounts for roughly 40 percent of global supply. In 2024, national cocoa output reached around 2 million tonnes, of which over 1.4 million tonnes were exported as raw beans. Yet only about 30 percent of the crop is currently processed domestically. Currently, the country hosts around 15 large-scale cocoa processing plants, most of them foreign-owned. Cote d'Ivoire is now accelerating its efforts to achieve 100 percent local processing by 2030. As part of the push, the government is planning reforms to the cocoa purchasing system, including the introduction of traceable farmer ID cards to better protect the rights of cocoa growers. Back at the PK24 Industrial Park, Chinese and Ivorian technicians were refining the production systems as the facility nears full operational readiness. The facility, a symbol of bilateral cooperation, is poised to help shift Cote d'Ivoire's role from a raw cocoa exporter to a significant player in cocoa processing. At the Port of Abidjan, shipping containers filled with cocoa products stand neatly arranged, ready for export. Gazing out over the sea, Camille said with quiet determination, "Next, we want the world to fall in love with chocolate made in Cote d'Ivoire."
New Straits Times
4 hours ago
- New Straits Times
Asean eyes stronger economic ties with Norway in green and digital sectors
JAKARTA: Asean is looking to deepen its partnership with Norway to advance green growth, digital innovation, and sustainable development across Southeast Asia, as the region navigates evolving climate challenges, economic transformation, and shifting global dynamics. Secretary-general Dr Kao Kim Hourn said Norway's expertise in renewable energy, maritime innovation, digital technology, and sustainable aquaculture makes it a natural partner in advancing the region's long-term goals. "Norway's global leadership in green solutions and the blue economy aligns closely with Asean's sustainability goals and development priorities," he said at a dinner reception with the Asean Committee and other stakeholders on Monday, according to a statement released by the Asean Secretariat on Tuesday. The event was hosted by the Ambassador of Indonesia to Norway, Teuku Faizasyah, at his official residence in Oslo. Also in attendance was the Ambassador of Norway to Asean, Kjell Tormod Pettersen. Kao also highlighted education, research, and innovation as vital areas to nurture the talent and technology that will shape the bloc's future. According to data from the secretariat, bilateral trade between Asean and Norway reached US$3.6 billion in 2024, while Norwegian foreign direct investment totalled US$22.5 million. While the numbers are encouraging, he emphasised that there is significant untapped potential and called for bold and practical steps to advance the partnership to the next level. "In today's global landscape marked by rising protectionism and mounting geopolitical uncertainties, collaborating with like-minded partners all over the world such as Norway becomes ever more critical to upholding open, inclusive, and rules-based economic cooperation," he added. Kao is on a working visit to Norway from June 9 to 12 with stops in Oslo and Bergen at the invitation of the Norwegian government, marking 10 years of the Asean-Norway Sectoral Dialogue Partnership. Norway, which is not a member of the European Union, was recognised as a Sectoral Dialogue Partner of Asean at the 48th Asean Foreign Ministers' Meeting on August 4, 2015 in Kuala Lumpur, Malaysia. – Bernama
