Ringgit headed for 10th weekly loss before Bersih protests

KUALA LUMPUR] The ringgit was headed for a 10th weekly decline, its longest losing streak since 2013, as thousands of protesters prepared for a weekend march to demand Prime Minister Najib Razak's resignation.   The ringgit has dropped 25 per cent in the past year, the biggest decline in Asia, as a scandal involving political donations to Mr Najib damps sentiment and a 53 per cent drop in Brent crude prices hurts the finances of the...

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China: Shanghai stocks surge to end 4.82% higher

Shanghai stocks closed up 4.82 per cent on Friday, rising for a second day on strong US growth figures and a global market rally, amid speculation the government is also supporting the market, dealers said. China's benchmark Shanghai Composite Index surged 148.76 points to 3,232.35 on turnover of 474.6 billion yuan ($74.2 billion). Despite two days of substantial gains, the index still lost 7.85 per cent for the week. The Shenzhen...

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Malaysia: Stocks end more than 20 points higher

Malaysian shares closed higher on Thursday with the Kuala Lumpur Composite Index gaining 21.33 points to 1,601.7. Some 2.1 billion lots, valued at RM2.31 billion were traded. Gainers outnumbered losers 726 to 206...

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Chinese stocks tumble again as other Asian markets rebound

Chinese stocks tumbled again Tuesday after their biggest decline in eight years while most other Asian markets rebounded from a day of heavy losses. The mixed picture comes after a tumultuous day on Wall Street, where the Dow Jones industrial average ended down 3.6 percent after trimming much bigger losses. European markets were also hit badly. Analysts said it was unclear whether this was a sign the worst was over, or a reprieve in a...

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Malaysia: Shares end lower in global stock rout

Malaysian shares closed sharply lower on Monday with the Kuala Lumpur Composite Index dropping 42.53 points to 1,532.14. Some 2.58 billion lots, valued at RM2.5 billion were traded. Losers outnumbered gainers 941 to 100...

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Malaysia ringgit hits pre-peg 17-year low on risk aversion

[SINGAPORE] The Malaysian ringgit hit a fresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four years.   The ringgit lost 0.9 per cent to 4.2200 per dollar, its weakest since Aug 31, 1998. The ringgit was pegged at at 3.8000 to the dollar in September 1998 and maintained there until 2005. Malaysia's...

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Malaysia: Shares open lower on Friday

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 11.67 points to 1565.74. Volume was 97.3 million lots worth RM51.2 million. Losers outnumbered gainers 269 to 48...

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Ringgit drops to 17-year low as falling Brent crude dims outlook

The ringgit weakened to a 17-year low and led declines in Asia as falling oil prices worsened Malaysia's export outlook amid an emerging-market selloff.  [KUALA LUMPUR] The ringgit weakened to a 17-year low and led declines in Asia as falling oil prices worsened Malaysia's export outlook amid an emerging-market selloff. The currency has slumped 8.2 per cent this month in the worst developing-nation performance after Russia's...

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Malaysia: Shares open higher

MALAYSIA share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 15.08 points to 1594.68. Volume was 37.5 million lots worth RM10.9 million. Gainers outnumbered losers 101 to 54...

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Ringgit falls with bonds as inflation may spur policy response

[KUALA LUMPUR] Malaysia's ringgit and long-term bonds fell as the fastest inflation in a year fueled speculation interest rates will be raised amid an economic slowdown. The introduction of a 6 per cent goods and services tax in April is putting pressure on domestic prices, while import costs are rising after the ringgit slumped 15 per cent this year in Asia's worst performance. While boosting borrowing costs may be the "bitter pill Malaysia has...

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Ringgit weakens to over 20-year low of 2.8538 against Singdollar

[SINGAPORE] The Malaysian ringgit lost further ground against the Singapore dollar on Wednesday, trading at 2.8538 to the Singdollar at about 1:35pm, down from its close at 2.82 on Tuesday. This is the weakest that the ringgit has been against the Singdollar on record. China's surprise devaluation of the yuan this week has lumped more pressure on the ringgit, Asia's worst-performing currency in the past 12 months. Brent crude...

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Malaysia: Shares end lower on Wednesday

MALAYSIAN shares ended lower on Wednesday with the Kuala Lumpur Composite Index slipping 26.78 points to close at 1,609.93. Some 2.49 billion lots, valued at RM2.29 billion were traded. Gainers numbered just 96 while losers numbered 973...

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Malaysia's Hong Leong Bank plans up to US$757m rights issue: sources

[KUALA LUMPUR] Hong Leong Bank Bhd is planning to raise up to 3 billion ringgit (S$1.06 billion) in rights issues this year to strengthen its capital, two sources with direct knowledge of the matter told Reuters. The bank, Malaysia's fifth largest by assets, is the last of its peers to bolster its capital to meet more stringent central bank requirements under the global Basel III framework, the sources said. Analysts had earlier...

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Malaysia says Middle East donors gave Najib about US$700 million

[KUALA LUMPUR] The Malaysian Anti-Corruption Commission said RM2.6 billion (S$927 million) that ended up in Prime Minister Najib Razak's personal accounts were from donors in the Middle East. The contributors confirmed their donations after the anti-graft agency traced them through documents seized from banks, it said in an e-mailed statement Wednesday. The MACC said it won't disclose the identities of the donors and plans to question Mr Najib to seek an explanation on the funds. ...

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Ringgit weakens most in Asia as psychological reserves mark eyed

[KUALA LUMPUR] The ringgit weakened the most in Asia on concern Malaysia's foreign-exchange reserves dropped to the lowest level since the 2008 global credit crunch, reducing ammunition to defend the region's worst-performing currency. The holdings declined 13 per cent this year to US$100.5 billion amid a 10 per cent plunge in the ringgit, fueling speculation Bank Negara Malaysia intervened by buying the currency. A slump in oil, a...

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