Malaysia: Shares end lower

MALAYSIAN shares ended lower on Tuesday with the Kuala Lumpur Composite Index slipping 10.06 points to close at 1,699.7. Some 2.14 billion lots, valued at RM2.25 billion were traded. Gainers numbered 197 while losers numbered 726...

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Gold sinking to US$800 in worst-case outlook at Morgan Stanley

[SINGAPORE] Gold's been mauled this week as commodities sank to a 13-year low. It may get a lot worse, according to Morgan Stanley, which said that under its worst-case scenario bullion may tumble to US$800 an ounce.   To get there requires US policy makers to start raising interest rates, another correction in China's stock markets and a selldown of reserves by central banks, analysts including Tom Price said in a report. The metal is more likely to trade at about US$1,050 an ounce, according to the bank, which left its 2015...

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Ringgit slumps to 16-year low, money changers warned against hoarding foreign currencies

Money changers should not hoard foreign currencies as this could pose risks in a volatile market, the Malaysian Association of Money Services Businesses (MAMSB) warned as the ringgit hits its lowest in 16 years. MAMSB president Ramasamy Veeran said it was never a practice to stockpile and withhold foreign currencies in order to make a profit from the weak ringgit. "It is not a standard practice or a norm… Further, there are risks associated...

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U.S. oil futures fall to 15-week low as supply glut concerns weigh

U.S. oil futures fell to the lowest level since April on Tuesday, as ongoing worries over ample supplies and high domestic oil production drove prices down.   On the New York Mercantile Exchange, crude oil for September delivery hit a session low of $50.13 a barrel, a level not seen since April 4, before trading at $50.39 during European morning hours, down 5 cents, or 0.09%. A day earlier, Nymex oil futures lost 77 cents, or 1.5%,...

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Malaysia: Shares close higher on TuesdayMalaysia: Shares close higher on Tuesday

MALAYSIAN shares closed higher on Tuesday with the Kuala Lumpur Composite Index up 12.06 points to close at 1,736.19. Some 1.66 billion lots, valued at RM1.51 billion were traded. Gainers numbered 555 while losers numbered 261...

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Ringgit forwards point to further weakness weighed by oil, 1MDB

[KUALA LUMPUR] Offshore forwards show the ringgit may weaken another 2.7 per cent in the next 12 months as Brent crude prices below a 10-year average hurt export earnings, combined with controversy over a state investment company. Twelve-month non-deliverable forwards retreated 0.2 per cent to 3.9145 a dollar as of 11:20 am in Kuala Lumpur, data compiled by Bloomberg show. The contracts declined to a record 3.9608 on July 8. The onshore...

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Malaysia: Stocks open lower on Thursday

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.72 points to 1,724.54. Volume was 44.81 million lots worth RM21.63 million as at 9.03am. Gainers outnumbered losers 88 to 77...

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1MDB Malaysia's Tenaga shares fall 3.1% on interest to buy 1MDB's power assets

[KUALA LUMPUR] Shares of Tenaga Nasional Bhd, Malaysia national power group, dropped as much as 3.16 per cent in early trade on Thursday after it said it wants to buy almost all of debt-laden state fund 1Malaysia Development's (1MDB) power assets. Tenaga, which counts state investor Khazanah Nasional Bhd as a major shareholder, announced on Wednesday it had submitted an indicative non-binding proposal to acquire the five domestic and...

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Malaysia's police probing alleged conspiracy to topple PM Najib

[PETALING JAYA] Malaysia's Inspector-General of Police is not ruling out the possibility of a conspiracy to topple the Prime Minister undemocratically. Tan Sri Khalid Abu Bakar said that the police were instructed by the Attorney-General on July 8 to conduct a full probe over the allegations that bank documents were leaked to foreign nationals...

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Malaysia: Stocks open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 4.83 points to 1,710.75. Volume was 60 million lots worth RM24.2 million as at 9.04am. Gainers outnumbered losers 118 to 81 as at 9.04am...

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Malaysia's Sunway Construction closes IPO to institutions early

Malaysia's Sunway Construction Group Bhd has closed the institutional portion of its 478 million ringgit (US$125.59 million) initial public offering ahead of schedule, IFR reported on Monday citing a person close to the transaction.   Sunway Construction closed the portion on Friday though it was due to close on Tuesday, according to Thomson Reuters publication IFR. Sunway Construction was not immediately available to comment. The...

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China: Shares close higher

[SHANGHAI] China's benchmark stock index closed up 2.41 per cent on Monday in a day of rollercoaster trading after authorities unveiled an unprecedented package of measures designed to shore up a plunging market. The Shanghai Composite Index jumped 88.99 points to 3,775.91 on turnover of 943.4 billion yuan ($154.2 billion) on Monday. It surged 7.82 per cent at the open but fell as much as 0.92 per cent during the day. The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 2.70 per cent, or 56.63...

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Malaysia: Shares end lower on Monday

MALAYSIAN shares ended lower on Monday with the Kuala Lumpur Composite Index losing 17.19 points to close at 1,717.05. Some 1.54 billion lots, valued at RM1.41 billion were traded. Gainers numbered 158 while losers numbered 646...

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Oil prices firm up after falling on supply data

Oil prices firmed up on Thursday, stabilizing after a steep drop in the previous session after data showing an unexpected increase in U.S. oil stockpiles last week on the back of increased production. On the New York Mercantile Exchange, crude oil for August delivery edged up 0.17% to $57.05 a barrel after ending the previous session down 4.2%. Brent crude for August delivery, the global benchmark rose 0.52% to $62.33 after falling 2.5%...

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Malaysia: Shares end higher

MALAYSIAN shares ended higher on Thursday with the Kuala Lumpur Composite Index adding 5.92 points to close at 1,733.88. Some 1.46 billion lots, valued at RM1.85 billion were traded. Gainers numbered 388 while losers numbered 351...

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