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Asian markets sink, gold extends gains as Iran warns on sanctions

HONG KONG, June 25 — Increasing concerns about a conflict between the United States and Iran hit equity markets today and sent gold prices to a fresh six-year high, jolting investor confidence days ahead of crucial trade talks between Donald Trump…


Full-blown US-China trade war will slow Malaysia’s export

KUALA LUMPUR, June 25 — A full-blown trade war between the United States and China will impact Malaysia’s economy, slowing down the growth of its export sector by one to two per cent, Affin Hwang Capital chief economist Alan Tan Chew Leong said….


FedEx sues US government over shipment restrictions

NEW YORK, June 25 — American logistics giant FedEx sued the US government yesterday, saying Washington’s restrictions on exports and imports due to growing trade disputes and sanctions created an “impossible burden” for delivery firms. The…


Dollar crumbles to new lows vs euro, yen on rate cut bets

LONDON, June 25 — The US dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the US currency. The…


Malaysia to maintain strong business relationship with China, Guan Eng says

KUALA LUMPUR, June 25 — Malaysia will maintain its strong business relationship with China and no Chinese investor will feel left out in this regard, says Finance Minister, Lim Guan Eng. Speaking to reporters at the Malaysia SME Business Summit…


Three Chinese banks face US action in N.Korean sanctions probe, Washington Post reports

WASHINGTON, June 25 — A US judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in a probe into North Korean sanctions violations, The Washington Post reported, adding one of them could lose access to the US…


Bursa ends morning session lower after see-saw trade

KUALA LUMPUR, June 25 — Bursa Malaysia ended the morning session lower today weighed down by selling and profit taking activities in heavyweight stocks, mainly in finance-related counters. At 12.30pm, the key FTSE Bursa Malaysia KLCI (FBM KLCI)…


Asian stocks suffer trade jitters, dollar braced for more Fed talk

SYDNEY, June 25 — Asian shares were hamstrung by trade worries today as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while propelling gold prices to six-year peaks. Investors are waiting…


China to launch first yuan bonds in Macau

SHANGHAI/HONG KONG: China will issue two billion yuan ($291.04 million) in yuan-denominated treasury bonds in Macau on July 4, the finance ministry said on Tuesday.

This will mark the first Chinese Treasury bond sale in Macau, according to Refiniv Eikon and a source at Macau’s Monetary Authority.

The Ministry of Finance said in a statement that the bond sales will continue to strengthen financial cooperation between the mainland and Macau, bring more issuers to and speed up the development of the local bond market.

Macau is also considering launching a yuan-based stock market to help it diversify away from gaming, its main source of revenue, the city’s de facto central bank told Reuters earlier this month.

Beijing has encouraged the city to develop financial products and services under its plan for a ‘Greater Bay Area’ – the integration of 11 southern cities to create a mega economic powerhouse.

The former Portuguese colony will mark its 20th anniversary of its return to Chinese rule in December, and will hold its once-in-five-years leadership election in August.


China, US trade officials talk ahead of Trump-Xi meeting

SHANGHAI, June 25 — Senior Chinese and US trade officials spoke by telephone yesterday ahead of talks between Chinese President Xi Jinping and US President Donald Trump set for later this week, as the world’s two largest economies remain locked…