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Global growth worry hits stocks, but US data lifts dollar

NEW YORK, Dec 15 ― A gauge of global stocks tumbled yesterday after weak economic data from China and Europe intensified global growth worries as investors weighed the broader impact of the trade dispute between the United States and China. Euro…


Ahead of China anniversary, trade war fans calls for reforms

BEIJING: China’s trade war with the United States is spurring some Chinese entrepreneurs, government advisers and think-tanks to call for faster reforms in the world’s second-largest economy and the freeing of a private sector stifled by state controls. The calls for change have become louder as China approaches a key anniversary later this month, although […]


IMF projects Malaysia’s 2018 real GDP growth at 4.7 per cent

KUALA LUMPUR: The International Monetary Fund (IMF) is projecting Malaysia’s real gross domestic product (GDP) growth at 4.7 per cent for 2018, compared with an earlier forecast of 5.3 per cent made on March 7. The IMF said headline inflation was declining and expected to average around 1.1 per cent this year. “Credit growth has […]


Wall Street sells off as China growth fears reemerge

NEW YORK, Dec 14 ― Wall Street opened sharply lower today as investors took stock of slower growth in China, eroding gains for the major indices as they end another volatile week. China reported weaker-than-expected industrial output and retail…


Ringgit weaker against US dollar

KUALA LUMPUR: The ringgit weakened against the US dollar today as news that China’s retail sales and industrial production data was less than expected, was bearish for the local market, said OANDA Head of Trading Asia-Pacific Stephen Innes.

At 6 pm, the local note traded at 4.1830/1880 against the US dollar from Thursday’s 4.1780/1820.

The ringgit was seen tracking the movement of China’s renmimbi for quite some time as the latter was one of Malaysia’s major investors.

“I must admit I’m a bit surprised the ringgit did not trade with a more positive bias as US-China trade tensions have improved while the local unit should find support from a probable US Federal Interest rate pause in 2019.

“The market is indeed caught in the year-end malaise with local investors now fretting over oil markets and the outlook for global growth in 2019,” he told Bernama.

Against major currencies, the ringgit rose to 5.2635/2710 from 5.2902/2957 against the pound yesterday and improved to 4.7239/7299 versus the euro from 4.7533/7587 yesterday.

It strengthened slightly against the Singapore dollar to 3.0393/0434 from 3.0479/0519 on Thursday but slipped against the yen to 3.6842/6895 from 3.6817/6859 yesterday. — Bernama


Ringgit ends lower on China data

KUALA LUMPUR, Dec 14 ― The ringgit weakened against the US dollar today as news that China's retail sales and industrial production data was less than expected, was bearish for the local market, said Oanda Head of Trading…


China to suspend additional tariffs on US-made cars starting 2019

BEIJING, Dec 14 ― China announced today it will suspend extra tariffs added to US-made cars and auto parts for three months starting on January 1 as part of the trade war truce with the United States. Beijing raised tariffs on American-made cars…


Bursa ends lower on cautious sentiment

KUALA LUMPUR, Dec 14 ― Bursa Malaysia closed broadly lower today, in tandem with the downtrend in regional bourses prompted by continued weak market sentiment and re-emerged risk aversion which curbed interest for equities, dealers…


Bursa Malaysia resumes afternoon session in the red

KUALA LUMPUR, Dec 14 ― Bursa Malaysia remained in the red mid-afternoon as weak sentiment continued to weigh on investors'’ appetite, dealers said. At 3.04pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.62 points lower at 1,664.38…


IMF projects Malaysia’s 2018 real GDP growth at 4.7pc

KUALA LUMPUR, Dec 14 — The International Monetary Fund (IMF) is projecting Malaysia’s real gross domestic product (GDP) growth at 4.7 per cent for 2018, compared with an earlier forecast of 5.3 per cent made on March 7. The IMF said headline…