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Bursa joins global selloff as Turkey’s economic crisis unfolds

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KUALA LUMPUR: Bursa Malaysia was not spared the bloodshed in global markets as fears mounted over the Turkish financial crisis. At noon, Japan’s Nikkei was down 2.2%, the Shanghai Composite Index down 1.37% and Kospi down 1.8%. The Turkish Lira, which has last about half of its value since September 2017, plummeted as the White House doubled steel and aliminium tariffs on the nation even as President Recep Tayyip Erdogan steadfastedly refused to raise interest rates in what he claims is an “economic war” against foreign interests. The Lira’s plungeRead More


Amazon and Microsoft nudge S&P 500 closer to record high

NEW YORK, Aug 8 — The S&P 500 inched nearer to a record high yesterday, lifted by Amazon, Alphabet and Microsoft, and by a strong second-quarter earnings season that fuelled optimism about the US economy's strength. The S&P 500 last closed…


KLCI slides as investors resume selloff following trade war talks

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KUALA LUMPUR: Global equity markets were hit on Thursday by US President Donald Trump’s proposal to increase tariff hikes on US$200bil on Chinese imports to 25%. Bursa Malaysia, which had seen foreign investment return over the last two sessions, saw renewed selling pressure in Thursday morning trade as bloodshed took over Asian markets. At 12.30pm, the Shanghai Composite Index was down 2.5% while the blue chip CSI 300 fell 2.6%. Japan’s Nikkei lost 1.1%. Going into midday break, the FBM KLCI slid 7.94 points to 1,780.37. Trading volume was 1.21Read More


Asia stocks mixed after Bank of Japan policy decision

HONG KONG, July 31 — Asian markets were mixed today as the Bank of Japan tweaked its monetary policy in a bid to make its massive easing programme sustainable, with stocks recovering early losses fuelled by a slump among US tech firms. Tokyo’s…


China’s easing move draws value hunters to unloved bank stocks

HONG KONG, July 27 — Value hunters are paying more attention to China’s unloved banking stocks after the government softened its deleveraging drive. Spurned for months, they’ve been some of the biggest beneficiaries of China’s coordinated…


Weak oil prices offset Bank of America-led earnings optimism

NEW YORK, July 16 — US stocks were trading flat today as a sharp drop in crude oil prices weighed on energy companies, offsetting a rebound in financials stocks after Bank of America’s strong results reinforced expectations of a strong earnings…


Wall Street flat as industrials offset slide in bank stocks

NEW YORK, July 13 — US stock indexes were little changed today as a slide in financials on the three big Wall Street banks reporting mixed results was offset by gains in industrials as the US-China trade rhetoric eased overnight. Wells Fargo’s…


Wall St enters third day of gains as trade fears ease

NEW YORK, July 9 — US stocks rose today, with bank stocks leading third day of gains in a row after strong US jobs data from last week helped investors brush aside trade concerns. The S&P financial index rose 1.3 per cent, providing the…


US futures jump as Nike, financial stocks gains

NEW YORK, June 29 ― US stock index futures gained today, as Nike jumped after strong results and as bank stocks rose after clearing the Federal Reserve's stress tests. The futures, though, fell sharply before recovering after news website Axios…


Emerging markets on ‘tenterhooks’ as China selloff deepens

NEW YORK, June 28 — The rout in emerging markets deepened as investors sifted through the latest remarks from the Trump administration on protectionist measures, with both currencies and stocks on pace for their worst quarter since September 2015….