Tuesday, August 16th, 2016

 

Wall St falls from highs on NY Fed chief’s rate comments

NEW YORK, Aug 16 — US stocks slipped to their lowest in two weeks today after New York Federal Reserve President William Dudley said an interest rate hike in September was possible. Dudley’s comments pulled the three main indexes away from… Source: The Malay Mail Online


Gas suppliers Praxair, Linde hold US-German merger talks

NEW YORK, Aug 16 — US industrial gas supplier Praxair Inc and German peer Linde AG said today they were in early-stage talks about a merger to create a market leader with a value of more than US$60 billion (RM240.5 billion), sending their shares… Source: The Malay Mail Online


China approves trading link for Shenzhen, HK stocks

SHANGHAI, Aug 16 — China’s central government has approved plans to link trading between the Shenzhen stock exchange and the Hong Kong market, it said today, paving the way for the long-awaited reform. The Hong Kong stock exchange said it… Source: The Malay Mail Online


Industrials pull European shares back from seven-week highs

LONDON, Aug 16 — European shares pulled back from seven-week highs today, weighed down by industrial stocks, after Swiss firm Schindler lowered its outlook for 2016. The STOXX Europe 600 fell 0.8 per cent. While it closed flat yesterday, it… Source: The Malay Mail Online


Thai billionaire’s F&N seeks deals in race with Coke, Pepsi

SINGAPORE, Aug 16 — Fraser & Neave Ltd., the drinks-maker controlled by Thailand’s richest man Charoen Sirivadhanabhakdi, is searching for acquisitions to bolster its market share in Southeast Asia after its war chest grew to nearly S$1… Source: The Malay Mail Online


Emerging stocks head for longest rally in 16 months

BANGKOK, Aug 16 — Emerging-market stocks headed for the longest winning streak since April 2015 and currencies rallied as oil near US$46 a barrel and optimism that the US will keep borrowing costs low for longer stoked appetite for riskier… Source: The Malay Mail Online


Higher oil prices help push ringgit higher against US dollar

KUALA LUMPUR, Aug 16 — The ringgit ended sharply higher against the US dollar for the second consecutive day boosted by higher crude oil prices, said a dealer. At 6pm, the local unit was quoted at 3.9830/9880 against the US dollar from… Source: The Malay Mail Online


KL shares up on strong buying in selected heavyweights

KUALA LUMPUR, Aug 16 — Bursa Malaysia ended higher today underpinned by strong buying in selected heavyweights, as investor sentiment was earlier lifted by better performances of regional markets and higher oil price. At 5pm, the FTSE Bursa… Source: The Malay Mail Online


Malaysia textile, apparel exports jump close to RM7b in first half 2016

KULAI, Aug 16 — Malaysia’s textile and apparel exports rose 10 per cent to RM6.99 billion in the first half of 2016 from RM6.33 billion a year ago, Deputy International Trade and Industry Minister Datuk Ahmad Maslan said. He said the surge… Source: The Malay Mail Online


Energy stocks climb in Asia after oil price rise

HONG KONG, Aug 16 — Energy stocks rose today after oil prices climbed overnight but most Asian markets sank despite a strong lead from Wall Street. Tokyo tumbled after a sharp rally in the yen and disappointing growth figures hit sentiment,… Source: The Malay Mail Online