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MARKET PULSE PM JULY 31, 2025 [WATCH]
Bursa Malaysia closed lower today, mirroring the cautious tone on Wall Street as investors awaited clarity ahead of the US trade tariff negotiations deadline.
Market sentiment remains fragile amid uncertainty over President Donald Trump's trade policy announcement, expected today or tomorrow.
However, the Bursa Malaysia Technology Index rebounded after three days of losses, lifted by investor optimism following Prime Minister Anwar's presentation of the 13th Malaysia Plan.
The ringgit slipped against the US dollar to 4.2600.
In the crypto market, Bitcoin rose to RM502,999.
Ethereum climbed to RM16,399, while Solana was up at RM771.
That wraps up today's Market Pulse.
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The Sun
26 minutes ago
- The Sun
France says it cannot save contraceptives US plans to destroy
PARIS: France said Friday it could not seize $9.7 million worth of women's contraception products that the United States plans to destroy, after media reports suggested the stockpile would be incinerated in the country. The contraceptives were purchased by the US foreign aid agency USAID under former president Joe Biden to be provided to women in some of the world's poorest countries, particularly in sub-Saharan Africa. But Donald Trump's administration, which has dismantled USAID since Trump succeeded Biden in January, confirmed last month it intends to destroy the contraceptives being stored in a warehouse in the Belgian city of Geel. According to several media reports, the unexpired products were to be incinerated in France at the end of July by a company that specialises in destroying medical waste. France's government has come under pressure to save the contraceptives, with women's rights groups calling the US decision 'insane'. But the health ministry told AFP that 'unfortunately there is no legal basis' for French or even European health authorities to intervene to recover the stockpile. 'Since contraceptives are not drugs of major therapeutic interest, and in this case we are not facing a supply shortage, we have no means to requisition the stocks,' it added. The ministry also said it had no information on where the contraceptives would be destroyed. Where are they? It remains unclear where the contraceptives currently are -- or even if they have already been destroyed. French women's rights group Family Planning told AFP on Thursday they had been informed that the boxes had started being moved out of the Belgian warehouse 36 hours earlier. 'We do not know where these trucks are now -- or whether they have arrived in France,' the group's head Sarah Durocher said, calling on incineration companies to 'oppose this insane decision'. Exactly which company could be responsible for incinerating the products has also not been revealed. French company Veolia, which had been rumoured as a contender, confirmed to AFP that it has a contract with the US firm Chemonics, USAID's logistics provider. However the company emphasised that the contract only covers 'expired products, which is not the case for the stockpile' in Belgium. The products, which include IUDs, implants and birth control pills, are reportedly up to five years away from expiring. Belgium's foreign ministry told AFP earlier this week that it 'is exploring all possible avenues to prevent the destruction of these products, including temporary relocation solutions'. 'Senseless' The US decision has provoked an outcry in France. 'Can France accept to become the executor of a senseless policy imposed by the US?' said an opinion piece by five NGOs in the French newspaper Le Monde on Friday. Among the signatories was MSI Reproductive Choices, one of several organisations that have offered to purchase and repackage the contraceptives at no cost to the US government. All offers have been rejected. Last week, Democratic Senator Jeanne Shaheen pointed to the Trump administration's stated goal of reducing government waste, saying the contraceptives plan 'is the epitome of waste, fraud and abuse'. Shaheen and Democratic Senator Brian Schatz have introduced a bill aiming to prevent further US aid being wasted. A US State Department spokesperson told AFP earlier this week that the destruction of the products would cost $167,000 and 'no HIV medications or condoms are being destroyed'. The spokesperson also pointed to a policy, reinstated by Trump earlier this year, which prohibits providing aid to non-governmental organisations that promote or perform abortions. The NGO Doctors Without Borders, which has slammed the US plan as 'unconscionable', has pointed to reports that there is another warehouse with USAID-purchased contraceptives in the United Arab Emirates. A study published in The Lancet medical journal in June estimated that more than 14 million of the world's most vulnerable people could die as a result of the USAID cuts. Last month, the US also incinerated nearly 500 metric tons of high-nutrition biscuits that had been meant to keep malnourished children in Afghanistan and Pakistan alive. - AFP
The Star
an hour ago
- The Star
Creative economy gets 13MP recognition
PUTRAJAYA: The orange economy is a developing sector that has the potential to contribute to Malaysia's economic growth, says Communications Minister Datuk Fahmi Fadzil ( pic ). Fahmi, who is also the government spokesman, said the sector, which includes creative industries such as film, music and animation, was included in the 13th Malaysia Plan (13MP) as a result of a proposal and engagement session between the Communications Ministry and the Economy Ministry. 'The engagement process has convinced the Economy Ministry that the orange economy is a developing sector, which has the potential to help economic growth,' he said at a post-Cabinet press conference here yesterday, Bernama reported. Meanwhile, Fahmi said the details of the specific benefits of the orange economy sector will be known when Budget 2026 is presented this October. During the tabling of the 13MP in Parliament on Thursday, Prime Minister Datuk Seri Anwar Ibrahim said the government was committed to driving the growth of the creative economy through the high-potential digital creative industry. According to Anwar, the Matching Fund and Joint Production Fund will be implemented to encourage joint investments between the government and the private sector in the production of world-class content. 'The country's digital creative industry has generated income of RM6.3bil, with an export value of RM850mil,' he said.
The Star
an hour ago
- The Star
Retirement money, retiree's choice
Let the rakyat decide how to spend their EPF savings, says MCA PETALING JAYA: EPF funds are hard-earned savings of Malaysians and it is unfair for the government to dictate how retirees should spend them, says MCA vice-president Datuk Seri Dr Wee Jeck Seng ( pic ). He said a proposal under the 13th Malaysia Plan (13MP) to include the introduction of a monthly EPF pension scheme was expected to replace the current system, which allowed full withdrawals in one lump sum upon retirement. He said while the MCA acknowledged that the proposed reform was aimed at reducing the risk of retirees depleting their savings prematurely, such conditions restricted the freedom and flexibility of EPF members in spending their funds. Wee, who is the Tanjung Piai MP, said instead of enforcing a mandatory approach, the government should give members the freedom to choose or opt for the new scheme. 'We urge the government to reconsider and listen to the rakyat. EPF savings are accumulated over many years of hard work. 'It is not fair for the government to dictate how retirees should use their own money. 'Many members approaching retirement may already have plans in place and their choice of how to spend their savings should be respected. 'If this reform is to be implemented, it must be flexible and not be a rigid one-size-fits-all policy,' he said in a statement. Wee said with notable gaps in the current proposal, the government must ensure transparency is in place and the interests of EPF members are protected on how they choose to access their funds. According to the 13MP tabled on Thursday, the government was considering introducing a monthly pension payout under the EPF, in addition to the current lump-sum withdrawal option, to provide retirees with a more stable income stream. Meanwhile, the EPF said any decision on a monthly pension payout scheme for its members will be made after thorough engagement with key stakeholders and careful consideration of long-term interests. It said the government's proposal under the 13MP was currently under review. 'In the meantime, current EPF rules and withdrawal mechanisms remain unchanged. 'Any updates will be communicated through official and timely channels once available,' it said in a statement.
