Tuesday, March 13th, 2018

 

Petronas drops March crude price factor to US$4.05/bbl

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SINGAPORE (March 13): * State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for March at US$4.05 per barrel, down 15 cents from the previous month, the company said on Tuesday * The monthly price factor is added to the average of Platts’ dated Brent prices published in the month to derive the Malaysian crude official selling price (OSP) * Petronas changed its OSP mechanism effective January 2017, basing its benchmark price on a basket of four Malaysian crude grades Labuan, Miri Light, Kikeh andRead More


Hengyuan, Petron extend losses on rising US oil production

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KUALA LUMPUR (March 13): Shares of oil and gas players continue to head south this morning on rising oil production in the US. Hengyuan Refining Co Bhd fell 11 sen or 1.19% to RM9.14, with 1.27 million shares exchanging hands. The stock has been on a downward trend since Feb 27 where it closed at RM15.10, following a fall to RM8.35 on March 7. It had earlier fallen to a low of RM8.86 at 9.19am. Shares of Petron Malaysia Refining & Marketing Bhd also fell 34 sen to RM10.14, withRead More


Qualcomm’s troubles to persist even as Broadcom pursuit blocked

NEW YORK, March 13 — Qualcomm Inc seems to have escaped the clutches of would-be acquirer Broadcom Ltd. Now, the chipmaker will have to deliver on the promises it made to shareholders as it fought to remain independent. US President Donald…


At US$232b, world’s third largest oil major seen as cheap

HONG KONG, March 13 — With its earnings outlook improving and massive pipeline assets expected to be restructured, analysts are forecasting a rally in PetroChina Co’s Hong Kong shares, which are still trading at 2008 crisis levels. Out of 22…


Europe, US senator push back as Trump seeks lower EU tariffs (VIDEO)

BRUSSELS, March 13 ― US Commerce Secretary Wilbur Ross will urge the European Union to lower its trade barriers, US President Donald Trump said yesterday, calling them unfair to US farmers and industry, a view rejected by the EU and challenged…


Asia stocks rally stalls as Wall St loses steam, dollar sags

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TOKYO (March 13): Asian stocks stalled on Tuesday, halting an earlier rally after Wall Street shares lost steam, while the dollar sagged on the back of declining U.S. yields. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down 0.05 percent. The index had surged 1.5 percent on Monday following firm U.S. jobs numbers, while low wage growth eased concerns about inflation and faster central bank rate hikes. But a mixed performance by U.S. shares overnight cooled investor risk appetite in Asia. The S&P 500 and the Dow slipped onRead More


Japan scandal gives fresh boost to yen bulls eyeing 100 mark

TOKYO, March 13 — A deepening political scandal that has rattled Japanese Prime Minister Shinzo Abe’s administration has become a fresh reason for yen bulls to spy a move past 100 per US dollar. The stars had already been aligning for the…


KLCI dips 0.32%, tracks losses at regional markets

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KUALA LUMPUR (March 13): The FBM KLCI fell this morning, tracking losses at most regional markets. At 9.05am, the FBM KLCI lost 0.32% or 5.89 points to 1,855.33. The top losers included Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, Hong Leong Bank Bhd, Hartalega Holdings Bhd, Malaysian Pacific Industries Bhd, MISC Bhd, Kossan Rubber Industries Bhd, Maxis Bhd, Muda Holdings Bhd and Ta Ann Holdings Bhd. Asian stocks stalled on Tuesday, halting an earlier rally after Wall Street shares lost steam, while the dollar sagged on theRead More


Asia stocks rally stalls as Wall Street loses steam, US dollar sags

TOKYO, March 13 — Asian stocks stalled today, halting an earlier rally after Wall Street shares lost steam, while the US dollar sagged on the back of declining US yields. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down…


WTO head warns of retaliation risk after US trade tariffs

BRASILIA, March 13 — US President Donald Trump’s decision to slap tariffs on imported steel and aluminum could spark retaliation from other countries and lead to unforeseen consequences, the head of the World Trade Organisation said yesterday….