Today's top Malaysian news, sport and lifestyle.
Shell's first-half earnings jumped 70 per cent to US$16.75 billion, capitalising on oil price volatility tied to Middle East tensions. Trading gains and strong operational performance offset disruptions to some facilities.
Oil prices fell 5% to their lowest levels in two weeks as fighting paused between the US and Iran, raising hopes for potential negotiations. However, the closure of key shipping routes and ongoing regional threats keep markets cautious.
Malaysia's stock market retreated as crude oil surged past $100 a barrel on Middle East tensions, triggering a flight from technology equities and pushing the FBM KLCI toward a 10-day low despite gains in energy-linked counters.
Malaysia's FBM KLCI declined Wednesday as banks and plantation stocks faced selling pressure, offsetting overnight US market strength. Investors remain cautious amid geopolitical tensions and oil price volatility.
Malaysia's government has decided against revising its fiscal projections for Budget 2027 despite rising oil prices inflating subsidy costs by RM40 billion in the first half of 2026, according to Deputy Finance Minister Liew Chin Tong.
Oil prices jumped Friday as US-Iran hostilities intensified and Tehran signalled the Houthi movement to prepare for blocking the Red Sea, threatening global energy supplies and keeping geopolitical premiums embedded in crude benchmarks.
Iran has rejected US President Trump's proposal for peace negotiations, insisting Washington must first meet Tehran's preconditions on maritime transit and oil sales. Fresh threats of military action have intensified regional instability.
Renewed Middle East tensions pushed oil prices 4% higher on Monday, weakening Asian currencies and triggering an 8% plunge in South Korea's KOSPI index. The ringgit slipped to 4.0780 against the dollar.