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KLCI futures higher in early trade

KLCI futures higher in early trade

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI futures contract (FKLI) on Bursa Malaysia Derivatives was higher in early trade today, lifted by the firmer cash market, a dealer said. At 9.31am, spot month August 2015 was 10 points higher at 1,577.5, September 2015 gained 9.5 points to 1,552.5, December 2015 advanced 13 points to 1,518 […]

August 27, 2015 | By | Reply More
Asian shares follow Wall St higher but China fears linger

Asian shares follow Wall St higher but China fears linger

HONG KONG: Asian stocks surged Thursday after hints the US Federal Reserve will not raise interest rates next month sparked a rally on Wall Street, but dealers cautioned that the spectre of a slowing Chinese economy would mean more turbulence ahead. US stocks snapped a six-day losing streak on Wednesday after one of the most […]

August 27, 2015 | By | Reply More
Ringgit rebounds against USD

Ringgit rebounds against USD

KUALA LUMPUR: The ringgit rebounded in early trade, on improved market sentiment, dealers said. At 9.12 am, the local unit was quoted at 4.2370/2420 to the greenback from 4.2480/2560 yesterday. A dealer said the local note was lifted by the US decision to delay its September interest rate hike following the unsteady economy. The President […]

August 27, 2015 | By | Reply More
KL shares open higher

KL shares open higher

KUALA LUMPUR: Shares on Bursa Malaysia extended yesterday’s gains to open higher following bullish external sentiment, dealers said. At 9.21 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.11 points firmer at 1,583.48 after opening 2.38 points higher at 1,582.75. Gainers thrashed losers 325 to 109 while 136 counters remained unchanged, 1,233 untraded and […]

August 27, 2015 | By | Reply More
Oil prices rise on crude stock draw

Oil prices rise on crude stock draw

SEOUL: Oil prices climbed early on Thursday on an unexpected fall in US crude inventory last week, but a stronger dollar dragged. US crude’s front-month contract had risen 59 cents to US$39.19 a barrel by 0115 GMT, after settling down 71 cents, or 1.8 percent, at US$38.60 a barrel on Wednesday. Front-month Brent, the global […]

August 27, 2015 | By | Reply More
Panasonic to stop making batteries in Beijing, cut 1,300 jobs

Panasonic to stop making batteries in Beijing, cut 1,300 jobs

TOKYO: Japanese electronics giant Panasonic Corp on Thursday said it will stop making lithium-ion batteries at its factory in Beijing this month, cutting 1,300 jobs due to weak global demand for basic mobile phones and digital cameras. Employees were informed in late July of the planned closure of the 15-year-old factory, a company spokeswoman said. […]

August 27, 2015 | By | Reply More
Manufacturers see slower hiring

Manufacturers see slower hiring

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) foresee slower hiring in the second half of the year in the face of rising cost of doing business and weakening of the ringgit. “Business expectations remain pessimistic as manufacturers here face rising cost of doing business. The ringgit weakening weighs on our members’ sentiment as the […]

August 26, 2015 | By | Reply More
MMC Corp profit soars with the relisting of Malakoff

MMC Corp profit soars with the relisting of Malakoff

KUALA LUMPUR: MMC Corp Bhd’s net profit soared to RM1.35 billion in the second quarter ended June 30, 2015 from RM165.45 million a year ago, boosted by an exceptional gain from the relisting of independent power producer Malakoff Bhd in May. Group revenue, however, was lower at RM1.44 billion compared to RM2.86 billion a year […]

August 26, 2015 | By | Reply More
Sime Darby expects crude palm oil prices to average between RM1,900 and RM2,000

Sime Darby expects crude palm oil prices to average between RM1,900 and RM2,000

KUALA LUMPUR: Sime Darby Bhd expects crude palm oil prices to average between RM1,900 and RM2,000 per tonne from now until end of next month as this is in line with bearish market sentiment currently. “Beyond that it is difficult to predict. There are so many factors in the market and was made worst by […]

August 26, 2015 | By | Reply More
House prices could rise due to cost, weaker ringgit

House prices could rise due to cost, weaker ringgit

PETALING JAYA: House prices are expected to increase on higher building and material costs due to a weaker ringgit. Property developer LBS Bina Group Bhd managing director Tan Sri Lim Hock San said the impact of the ringgit depreciation local currency on the property prices was inevitable. “Building materials are more expensive and construction costs […]

August 26, 2015 | By | Reply More