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Asian shares hit by currency concerns, oil slump

Asian shares hit by currency concerns, oil slump

HONG KONG: Asian markets mainly fell on Friday (Aug 14), weighed down by jitters over the impact of China’s yuan devaluation and a fall in oil dragged down energy stocks, while Shanghai rose on hopes for more market intervention. The dollar dipped after advancing on solid US retail figures, which fuelled expectations the Federal Reserve […]

August 14, 2015 | By | Reply More
Malaysian ringgit at 17-year low on oil, politics, yuan

Malaysian ringgit at 17-year low on oil, politics, yuan

It had lost nearly three percent of its value earlier in the day — its biggest drops in almost 20 years — after oil prices tumbled to fresh six-year lows. KUALA LUMPUR: Malaysia’s ringgit currency suffered one of its worst one-day declines on Friday, falling to a fresh 17-year low in a protracted slide blamed […]

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Bursa Malaysia ends week on subdued note

Bursa Malaysia ends week on subdued note

KUALA LUMPUR: Bursa Malaysia, which closed in the red today, ended the week on a subdued note on the back of volatility in the Chinese yuan, falling oil prices and softer ringgit, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 24.80 points to close at 1,596.82, after fluctuating between 1,590.57 and […]

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Ringgit ends 1.68% lower to the greenback

Ringgit ends 1.68% lower to the greenback

KUALA LUMPUR: The ringgit closed 1.68% lower to the US dollar today, on a sell-off ahead of the weekend, a dealer said. At 5pm, the ringgit was quoted at 4.0750/0800 against the greenback from 4.0080/0130 yesterday. Intraday, the ringgit hit the 4.15 level to the dollar for the first time since the Asian financial crisis […]

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Petronas records lower net profit

Petronas records lower net profit

KUALA LUMPUR: The gloomy outlook for national oil and gas company Petroliam Nasional Bhd (Petronas) is expected to linger on for quite some time as crude oil prices continue to remain less than favourable. Petroliam Nasional Bhd (Petronas) recorded 47 per cent lower net profit of RM11.1 billion for its second quarter ended June 30, […]

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Mah Sing rescinds acquisition of Seremban land

Mah Sing rescinds acquisition of Seremban land

KUALA LUMPUR: – Mah Sing Bhd’s wholly-owned subsidiary, Grand Prestige Development Sdn Bhd, today rescinded its proposed acquisition of a piece of prime freehold land located in Rantau, Seremban for RM359.56 million. In a filing to Bursa Malaysia today, Mah Sing said the sales and purchase agreement is void due to, among others, misrepresentation and/or […]

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MAS offers customers bargain travel deals

MAS offers customers bargain travel deals

KUALA LUMPUR: – Malaysia Airlines (MAS) is offering customers irresistible travel deals in conjunction with the Malaysia International Travel Mart (MITM), beginning today until Aug 17, 2015. In a statement today, MAS said travellers could enjoy great bargains on its domestic and international routes for immediate travel until Mar 31, 2016. The deals could be […]

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Share prices remain lower at mid-afternoon

Share prices remain lower at mid-afternoon

KUALA LUMPUR: – Share prices on Bursa Malaysia remained lower at mid-afternoon today, dragged down by profit taking in heavyweights led by finance-related counters, dealers said. At 3.02 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 27.8 points to 1,593.82. Maybank topped the losers on finance-linked counters, declining 25 sen to RM8.35, followed […]

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KLCI slips below 1,600 points level at mid–morning

KLCI slips below 1,600 points level at mid–morning

KUALA LUMPUR: – The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped below the psychological level of 1,600 points at mid-morning today and in line with the poor performance of its regional peers, dealers said. At 11.15 am, the key index declined 23.64 points to 1,597.98. A dealer said China’s devaluation of the yuan continued to […]

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Asia shares set to end week lower; crude oil slumps

Asia shares set to end week lower; crude oil slumps

SINGAPORE: Asian shares were mostly higher on Friday, but still on track for a steep weekly loss in the wake of China’s surprise currency devaluation earlier in the week. Crude oil futures remained under pressure, plunging to 6-1/2-year lows after data revealed a big rise in U.S. stockpiles, fuelling fears of a growing global glut. […]

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