Malaysia's Economy Minister Rafizi Ramli to Resign; Shein Targets Hong Kong IPO

Economy News
Total 1689 words · 7 mins read

Key Takeaways

  • Malaysia's Economy Minister Rafizi Ramli will resign on June 17 after election defeat.
  • Shein is now planning to list in Hong Kong after regulator pushback for London.
  • Dubai Holding REIT surges 10% in debut, market cap around $3.9 billion.
  • CIMB CEO: Malaysia could benefit from US asset selloff due to trade policies.
  • Motorola Solutions acquires Silvus Technologies for $4.4B, plus potential $600M earnout.

Top Stories

Malaysia's Economy Minister Rafizi Ramli to resign June 17.

On May 28, 2025, Malaysia’s Economy Minister Rafizi Ramli announced his resignation from his cabinet position, effective June 17, 2025, shortly after being defeated in the ruling party’s internal election. He will use his remaining annual leave from Wednesday through June 16.

Shein eyes Hong Kong listing after regulator pushback.

On May 28, 2025, Reuters reported that Shein Group Ltd is now working toward listing in Hong Kong after not receiving approval from Chinese regulators for a London listing. Shein plans to file a draft prospectus in Hong Kong in the coming weeks and aims to go public within the year.

Dubai Holding REIT surges 10% in trading debut.

On May 28, 2025, Dubai Holding’s $584 million residential real estate investment trust surged in its trading debut, rising more than 10% to 1.22 dirhams per unit. The deal was priced at 1.10 dirhams per unit, giving the trust an implied market capitalization of around $3.9 billion.

Malaysia could benefit from US asset selloff: CIMB CEO.

On 2025-05-27, CIMB CEO Novan Amirudin stated that Malaysia could be a major beneficiary in emerging markets if the Trump administration's trade policies trigger a US asset selloff, citing Malaysia's attractiveness to investors.

Motorola Solutions acquires Silvus Technologies for $4.4B.

On May 27, 2025, Motorola Solutions Inc. agreed to acquire wireless-radio maker Silvus Technologies Inc. from TJC for $4.4 billion, including $4.38 billion in cash and $20 million in restricted stock, with a potential performance earnout of up to $600 million over 2027 and 2028.

Central Banks

ECB's Patsalides sees no need for larger rate cut.

On 2025-05-27, Econostream Media reported that European Central Bank Governing Council member Christodoulos Patsalides does not see a need for a larger interest-rate reduction at the moment.

BOJ rate hike possible due to tariff impact.

On 2025-05-27, Brian Folwer discussed the potential for a BOJ rate hike due to concerns about financial tariff impact, noting that they are closer to the 2% target than any time in the last three decades.

Corporate Actions

U.S. Steel Nippon Steel deal expected to close soon.

On 2025-05-27, CNBC's David Faber reported that the U.S. Steel Nippon Steel deal is expected to close soon, with potential news coming on Friday.

DoorDash raises $2B after Deliveroo, SevenRooms acquisitions.

On May 27, 2025, DoorDash Inc. announced it is raising $2 billion from the sale of convertible bonds after announcing deals to buy Deliveroo Plc for about $3.9 billion and SevenRooms Inc. for $1.2 billion on May 6, 2025. The company intends to use the proceeds for potential acquisitions and buybacks, as well as hedging transactions related to the deal.

Blackstone buys $5B in private equity from NYC pension.

On May 27, 2025, Blackstone Inc. agreed to purchase $5 billion in private equity holdings from the New York City pension system. The transaction involved 450 individual commitments across 125 funds from 75 different managers and was for "portfolio strategic realignment" purposes.

Unions denounce Carrefour's outsourcing strategy at shareholders' meeting.

On May 27, 2025, unions planned to denounce the social impacts of Carrefour's store outsourcing at the shareholders' meeting, questioning CEO Alexandre Bompard about this strategy. A store in Flers-en-Escrebieux (North) is affected.

British American Tobacco sells $1.5B ITC stock.

On 2025-05-27, British American Tobacco Plc increased its offering of Indian tobacco manufacturer ITC Ltd.’s stock to about $1.5 billion, offloading about 313 million shares in ITC at 413 rupees ($4.82) each. A group of Galderma Group AG shareholders, including EQT AB, Abu Dhabi Investment Authority, and Auba Investment Pte, are leading a series of stock sales involving European companies, potentially raising over $4.13 billion.

HSBC cuts 24 analysts in European restructuring.

On 2025-05-27, HSBC cut more than 24 analysts, including Stephen, as part of a restructuring in Europe. The cuts included the global head of fixed income and are part of a streamlining process that began last September.

Economic Trends

OPEC+ to assess production quotas for 2025/2026.

OPEC+ is scheduled to convene online on May 28, 2025, to assess production quotas for 2025 and 2026, preceding a decision by eight key members regarding a potential output increase in July.

Lagarde: Euro is world's 2nd largest currency.

On 2025-05-27, Christine Lagarde of the ECB spoke in Berlin, stating that the Euro is the world's 2nd largest currency and has the ingredients for success alongside the USD.

Trade war plus US recession: 1929 recipe.

On 2025-05-27, Florian from Lombard mentioned that a U.S. recession plus a trade war is the perfect recipe of 1920 nine, helping recession to spread to every country.

Rajan warns US faces risks from diminished student influx.

On May 28, 2025, former Reserve Bank of India Governor Raghuram Rajan cautioned that US economy faces long-term risks if politics diminish the influx of international students to American universities.

African economic growth to accelerate in 2025.

On May 27, 2025, Moses Mozart Dzawu reported that African economic growth is expected to accelerate this year, driven by public investment in agriculture and energy infrastructure, which should help mitigate the impact of the global trade war.

European auto sales dip amid trade uncertainty.

On 2025-05-27, European auto sales dipped last month, led by a decline in demand for gasoline and diesel cars. Global trade uncertainty has prompted consumers to hold off on larger purchases and sales in EV ' s rose last month but make up a smaller share of the market than some had anticipated.

Cyberattacks boost cyber insurance market to $16.3B.

On May 28, 2025, Maggie Shiltagh and Chloe Meley reported that a surge in cyberattacks is creating opportunities for insurers like Munich Re AG and Chubb Ltd., leading to a reevaluation of premiums. The global cyber insurance market is expected to reach $16.3 billion in 2025 and $30 billion by 2030.

Global Affairs

US-sanctioned tankers deliver Russian oil to India.

On May 28, 2025, it was reported that US-sanctioned tankers are part of the maritime supply chain delivering Russian oil to India, raising questions about India's stance as imports reach a record.

Market Insights

Act exceeds Q1 estimates, stock drops 10%.

On 2025-05-27, Act reported first quarter adjusted EPS of $0.86 a share, exceeding the estimate of $0.78, with revenue at $688 million, also better than the expected $680.6 million. Second quarter revenue is projected to be 710 to 712 million, while the estimate is 709.8 million; despite this, the stock is down about 10%.

Japan bond discussion triggers global rally; intervention considered.

On 2025-05-27, the global bond rally was influenced by Japan's finance minister's discussion of potentially reducing long-term issuance within the market. Japanese authorities intervened to address bond market gyrations, setting off a global rally and are considering trimming back issuance as speculation mounted that the Finance Ministry could tweak its debt issuance as Japanese government bond yields dropped.

Mexican stocks surge to all-time high.

On 2025-05-27, Mexican stocks surged to an all-time high, boosted by a post-Liberation Day bounce and a broader rally in Latin American equities. President Claudia Sheinbaum expressed confidence in the working relationship with US officials.

Stock futures slide on US fiscal health concerns.

On 2025-05-27, stock-index futures slid and Treasuries halted a three-day rally due to concerns about the US economy's fiscal health and weak demand at a Japanese bond auction. Asian shares also declined.

Taiwan retail investing boom attracts global asset managers.

On May 27, 2025, it was reported that global asset managers like Allianz Global Investors and ARK Investment Management are capitalizing on Taiwan's retail investing boom, encouraged by eased financial-product innovation regulations. As of December 31, 2025, Taiwanese regulators approved the first actively managed exchange-traded funds after amending laws to meet the demand for higher-return alternative products.

ETF market fees surge to record 65 basis points.

On May 27, 2025, it was reported that the ETF market in 2025 looks more like a speculative arcade than a cost-cutting utopia. Bloomberg Intelligence reported that the average fee of an exchange-traded fund launched this year has surged to a record 65 basis points.

Trump Media (DJT) gains; plans crypto purchase with stock.

On 2025-05-27, shares of Trump Media and Technology Group fell by 10.4%, while DJT, the social media company owned by Donald Trump, is gaining as the company is said to be looking to be doing a share placing aimed at buying cryptocurrencies. The company agreed to sell around $1.5 billion in stock and $1 billion in convertible bonds to buy Bitcoin for its Treasury and has about $760 million in cash.

SEVERA Pharma plummets 32% after FDA filing rejection.

On 2025-05-27, SEVERA Pharmaceuticals' stock fell as much as 33%, closing down 32% after the FDA said the company's drug application for Mulberry V was incomplete and needed to be refiled.

Vail Resorts reaffirms fiscal 2025 guidance.

Trade Winds

Sinobec Group Inc. files for bankruptcy due to trade war.

On May 27, 2025, Canadian aluminum trader Sinobec Group Inc. filed for bankruptcy in the US and Canada. The company attributed the bankruptcy to the American trade war.

US, EU ease tariff concerns; Trump postpones EU tariffs.

On 2025-05-27, it was reported that the EU and the U.S. are in communication, potentially easing consumer concerns about tariffs, according to the Conference Board. Also on 2025-05-27, President Trump suggested the U.S. may not need to manufacture everything domestically, potentially offering tariff relief to retailers and postponed EU tariffs, leading the U.K. and the European Union to fast-track trade talks with the U.S.

China gains economic leverage in tariff understanding.

On 2025-05-27, Diana, a Chief Economist, mentioned that in Geneva, China and the U.S. came to a better understanding on tariffs, but China has more economic leverage and has had 10 years to work on its response and put effort into developing new markets.

PDT Holdings declines 13.6% amid trade tensions.

On 2025-05-27, PDT Holdings, parent of Timaru, experienced a 13.6% decline, citing trade tensions between Washington and Beijing and intensifying competition in China. Shifting trade policies from the Trump administration have hurt T-Mo, requiring pricey investments and potentially harming short-term profitability.

German output upgrade due to tariff anticipation.

On 2025-05-27, Bundesbank President Joachim Nagel stated that the upgrade of Germany’s first-quarter output numbers is primarily due to businesses and exporters attempting to get ahead of expected US tariffs.

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