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6 Hours Ago

Eight Australian firms to invest over $3 billion in Malaysia, minister says

Eight Australian companies have made commitments to invest around 5.2 billion Australian dollars ($3.4 billion) in Malaysia, according to a government minister.

“We’re looking at both digital economy and the green economy,” the country’s minister for investment, trade and industry, Tengku Zafrul Aziz, told CNBC’s “Squawk Box Asia,” noting that data center operator AirTrunk, backed by Macquarie Asset Management, was among the firms that have showed interest in the country.

This comes a day after Malaysian prime minister Anwar Ibrahim reportedly said major Australian companies have shown interest to invest about RM24.5 billion ($5.1 billion) in the country, during an official visit to Melbourne.

— Shreyashi Sanyal

10 Hours Ago

Australia GDP grows 0.2% in the final quarter of 2023

Cafe at the Royal Arcade, Bourke Street Mall, Melbourne VIC 3000, Australia.

Education Images | Universal Images Group | Getty Images

Australia’s economy grew 0.2% quarter over quarter in the fourth quarter of 2023, according to data from the Australian Bureau of Statistics.

The reading was driven by government expenditure and private business investment. It was also slightly below a Reuters poll estimate of a 0.3% rise.

“Growth was steady in December, but slowed across each quarter in 2023,” Katherine Keenan, ABS head of national accounts, said.

“Government spending and private business investment were the main drivers of GDP growth this quarter.”

Real GDP in the twelve months through December was 1.5%, slightly above a Reuters poll forecast of a 1.4% increase.

— Shreyashi Sanyal

11 Hours Ago

South Korea’s inflation quickens more than expected in February after three straight months of slowing

South Korea’s inflation rate rose for the first time in three months to come in at 3.1%, higher than the 2.8% in January and also more than the 2.9% expected by a Reuters poll.

The country’s core inflation rate, which strips out prices of food and energy, came in at 2.5%.

South Korea’s central bank was the first major central bank to stop its rate hikes early in 2023, holding its base rate in 3.5%.

— Lim Hui Jie

11 Hours Ago

Nvidia led S&P 500 and Nasdaq gains on Tuesday

Bogged down by tech stocks, all three major stock indexes ended Tuesday’s trading session lower.

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all notched their second negative sessions in a row and worst daily performance since February 13.

Nvidia was the most positive stock for both the S&P 500 and Nasdaq, while Microsoft led the losses for both indexes.

On the other hand, JPMorgan was the most positive stock within the Dow on Tuesday. Shares of Salesforce led the 30-stock lower during the day’s trading session.

— Lisa Kailai Han, Christopher Hayes

12 Hours Ago

Stocks making the biggest moves after the bell: Nordstrom, CrowdStrike and more

Shoppers walk into a Nordstrom department store on March 03, 2023 in Austin, Texas. 

Brandon Bell | Getty Images

These are the stocks moving the most in extended trading:

  • Nordstrom — Despite beating fourth-quarter earnings and revenue expectations, shares slid nearly 10% after the department store chain provided disappointing full-year 2024 guidance.
  • CrowdStrike — The cybersecurity stock soared 19% after fourth-quarter earnings topped estimates.
  • Box — The cloud storage stock jumped 8% after posting fourth-quarter revenue that matched analyst expectations, according to LSEG.

Read the full list of stocks moving here.

— Lisa Kailai Han

12 Hours Ago

Nasdaq 100 futures edge higher

#Stock #futures #rise #Tuesdayx27s #selloff #investors #await #Powell #testimony #Live #updates

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