Ringgit opens lower on negative sentiment

KUALA LUMPUR, Oct 23 — The ringgit opened marginally lower against the US dollar this morning as negative sentiment clouded demand for the currency, said a dealer.  At 9am, the ringgit was traded at 4.1595/1625 versus the…

Banks lead US stock slide, extending market’s losing streak


Banks led a broad slide in U.S. stocks Monday as an early rally faded, giving the benchmark S&P 500 index its fourth straight loss. Health care and energy stocks also helped pull the market lower, outweighing gains by technology and consumer-focused stocks. Crude oil prices eked out a small gain after spending most of the day in the red. The latest losses came as traders geared up for a busy week of company earnings reports that should help answer how Corporate America is coping with rising interest rates, inflation andRead More

The September FOMC Minutes: No meaningful surprises

THE minutes from the September Federal Open Market Committee (FOMC) meeting were essentially in line with our narrative. The FOMC members continued to interpret the current economic conditions as “strong” overall and were unanimously in support of continuing with their plan of gradual policy normalisation, with an eye on ongoing developments based on the data. […]

11MP mid-term review should ease concerns, say economists

KUALA LUMPUR, Oct 20 — The Mid-Term Review of the 11th Malaysia Plan (MTR11MP) which has outlined the government’s strategy to steer the country towards a prosperous, harmonious and inclusive nation should ease the concerns on policy direction,…

11MP macroeconomic strategies to be continued with some adjustments

KUALA LUMPUR: The macroeconomic strategies set out in the Eleventh Malaysia Plan (11MP) will be continued with some adjustments to ensure that economic fundamentals are strengthened, sources of growth secured and structural issues managed. According to the Mid-Term Review of the 11MP (2016-2020) released by the Ministry of Economic Affairs here yesterday, strategies to address […]

Further US rate hikes ‘most likely’ needed, Fed minutes show

WASHINGTON: US central bankers see no reason to pause the current course of gradual rate hikes that have infuriated President Donald Trump and some even say the Federal Reserve may soon need to slow the economy, according to meeting minutes. But, amid brisk American expansion, some Fed policymakers also warned of looming dangers to the world […]

US data drags oil lower, US dollar up after Fed minutes

NEW YORK, Oct 18 — Oil prices fell yesterday after US crude inventories rose by much more than expected and exports fell, while the US dollar added to gains after minutes showed Federal Reserve policy makers largely united on the need to raise…

Wall St falls as investors eye a united hawkish Fed

NEW YORK Oct 18 — Wall Street's major indexes edged lower after a choppy session yesterday after the Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had helped cause a major…

Despite Trump criticism, Fed sees need for more rate hikes

WASHINGTON, Oct 18 — Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite US President Donald Trump's view that interest rate hikes have already…

Sterling eases after inflation falls more than forecast

LONDON, Oct 17 — The British pound weakened today after inflation fell more than expected in September, easing a squeeze on consumers, who are also seeing the strongest wage growth for workers in a decade according to other data. The…