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Asian shares seesaw as China rate cut fails to spark rally

Asian shares seesaw as China rate cut fails to spark rally

TOKYO: Shares were mostly lower in Asia on Wednesday, after a move by China to cut its key interest rate failed to spark a sustained rally on Wall Street. Investors looked set for another white-knuckle day as Chinese, Hong Kong and Japan shares bobbled in and out of negative territory. Japan’s main Nikkei 225 stock […]

August 26, 2015 | By | Reply More
KLCI futures lower in early trade

KLCI futures lower in early trade

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI futures contract (FKLI) on Bursa Malaysia Derivatives was lower in early trade this morning in line with the easier cash market, a dealer said. At 9.38am, spot month August 2015 was 15.5 points lower at 1,541, September 2015 shed 16.5 points to 1,521.5 and December 2015 eased 16 […]

August 26, 2015 | By | Reply More
Ringgit at 4.27, continues slide against USD

Ringgit at 4.27, continues slide against USD

KUALA LUMPUR: The ringgit failed to halt its continuing decline against the US dollar at opening today, dealers said. At 9.26 am, the local unit was quoted at 4.2760/2850 to the greenback from 4.2105/2155 yesterday. A dealer said sentiment remained unsteady, even for the greenback, which traded lower against the euro and the yen. “The […]

August 26, 2015 | By | Reply More
Oil price at US$43 as China economy fears linger

Oil price at US$43 as China economy fears linger

SEOUL: Crude oil futures dipped on Wednesday on fears of a hard landing for China’s economy despite central bank moves to bolster stumbling growth and concerns about a supply glut. US stock futures resumed their descent in early Asian trade and Asian shares were seen on the defensive on Wednesday as monetary easing by China’s […]

August 26, 2015 | By | Reply More
ADB announces new US$1.2 bn annual package for Pakistan

ADB announces new US$1.2 bn annual package for Pakistan

KARACHI: The Asian Development Bank said Tuesday it has approved a new assistance programme for Pakistan worth US$1.2 billion annually, to improve infrastructure and create jobs. The Manila-based bank said Pakistan, which has suffered sluggish growth in recent years, was on track to meet targets for cutting poverty. But it said overall development was below […]

August 25, 2015 | By | Reply More
65pct tariff reduction on goods for RCEP: Mustapa

65pct tariff reduction on goods for RCEP: Mustapa

RUPA DAMODARAN and ZARINA ZAKARIAH KUALA LUMPUR: The ASEAN- led Regional Comprehensive Economic Partnership (RCEP) will see tariff reduction up to 65 per cent on goods when the regional free trade pact comes into force said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. The RCEP, which is a grouping of the ASEAN-10 plus […]

August 25, 2015 | By | Reply More
Corporates have buffers to withstand RM weakness: S&P's

Corporates have buffers to withstand RM weakness: S&P's

KUALA LUMPUR: Seventy five per cent of corporates which Standard and Poor’s rates in Malaysia have sufficient buffers to withstand the ringgit weakening up to RM4.50 to the dollar for a year. Its corporate ratings director for Asia Pacific Xavier Jean said this was because these companies have a number of levers they can pull […]

August 25, 2015 | By | Reply More
Special Economic Committee to be established: Najib

Special Economic Committee to be established: Najib

KUALA LUMPUR: A special committee will be established by the government to ensure the country’s economic growth amidst the global volatile economic condition said Prime Minister Datuk Seri Najib Razak. He said the committee will be responsible at keeping track of the current trends and developments in the global markets. “The objective is to ensure […]

August 25, 2015 | By | Reply More
Global marts slip on   China worries

Global marts slip on China worries

KUALA LUMPUR: A Great fall of China’s stocks yesterday rattled global stock exchanges as fears about the effects of the slowdown in the world’s second-largest economy deepen. China’s main stock index closed nearly nine per cent lower, routing other benchmarks worldwide as a sharp drop in the US dollar and major commodities also contributed to […]

August 25, 2015 | By | Reply More
Tokyo stocks rebound from heavy losses to 1.5% gain

Tokyo stocks rebound from heavy losses to 1.5% gain

TOKYO: Tokyo’s benchmark index rebounded sharply Tuesday, casting off heavy early losses to sit 1.50 percent higher by the last few minutes of morning trade. The Nikkei 225 at the Tokyo Stock Exchange, which plunged more than four percent at the open, added 284.84 points to stand at 18,825.52 just before the break. The Topix […]

August 25, 2015 | By | Reply More