BOSTON/NEW YORK: In America’s corporate boardrooms, diversity is making uneven progress: Women increasingly are pulling up a chair while racial and ethnic minorities still rarely get seats at the table. Twenty-seven per cent of new directors at companies in the Russell 3000 Index were women during 2016-2018, up from 21 per cent in the previous […]
NEW YORK, Feb 13 — Wall Street stocks rose again early today, extending an upward push on optimism over US-China trade talks and a preliminary budget agreement in Washington. About 20 minutes into trading, the Dow Jones Industrial Average was up…
LONDON, Feb 13 — Stock markets jumped today on hopes of a breakthrough in the US-China trade war. The dollar mostly rose, while oil prices rallied on news that Opec crude output hit a four-year nadir. The pound weakened after official data showed…
TOKYO, Feb 13 — Tokyo’s Nikkei index closed at a two-month high today, tracking gains on Wall Street as fears about a US-China trade war and another US government shutdown eased. The benchmark Nikkei 225 index rose 1.34 per cent, or 280.27…
HONG KONG: Asian stocks climbed Wednesday as US President Donald Trump said he could extend the deadline for a trade deal with China, appearing to boost the prospects of an agreement.
Trump said “things are going well” at preliminary talks in Beijing, where top economic officials will gather Thursday seeking an accord to stop sharp US tariff hikes that could damage the global economy.
“If we’re close to a deal, where we think we can make a real deal … I could see myself letting that slide for a little while,” the US president said of his March 1 deadline.
He added that he expects a meeting with counterpart Xi Jinping to happen “at some point”.
The comments all improved market sentiment on the likelihood of a deal to prevent US tariffs on $200 billion in Chinese imports more than doubling next month.
Washington is demanding changes from Beijing on what it says are unfair commercial practices.
Tokyo added 1.5%, Hong Kong rose 0.4% and Shanghai gained 0.2% on the news, following Wall Street’s lead.
However, some analysts struck a cautious tone, noting that much work needs to be completed before a framework agreement is in reach.
“The rally in stocks has been based on hope rather than any concrete agreements overnight,” warned Oanda senior analyst Jeffrey Halley, predicting short-term volatility to come as headlines emerge from Beijing.
Sydney shed 0.3%, with calls for a snap election amid political tensions over refugees adding to underwhelming corporate earnings and subdued metal prices.
Nonetheless, renewed global investor confidence saw a movement away from the greenback, which has enjoyed a strong rally in the past week, to riskier currencies.
The pound moved upwards closer to $1.29, despite no-deal Brexit fears as Prime Minister Theresa May was accused by the opposition of “running down the clock” and “playing chicken” with Brussels over talks.
Trump’s suggestion that another chaotic US government shutdown was now unlikely following a deal struck in Congress over border security further fuelled risk appetite.
The deal to offer nearly $1.4 billion for construction of a Mexico border wall, as well as other security measures, fell far short of Trump’s demands but has been presented as a workable compromise.
“I don’t think you’re going to see a shutdown,” said the president.
Elsewhere oil continued its climb after heavyweight Saudi Arabia slashed output and exports fell in crisis-hit Venezuela. – AFP
KUALA LUMPUR, Feb 13 — Bursa Malaysia traded sideways in early trade today on lack of local leads, while ignoring the firmer regional tone on positive external developments. At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at…
KUALA LUMPUR: Bursa Malaysia traded sideways in early trade today on lack of local leads, while ignoring the firmer regional tone on positive external developments.
At 9.16 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,688.07, up 0.66 of-a-point from Tuesday’s close of 1,687.41.
The index opened 0.32 of-a-point firmer at 1,687.73.
A dealer said the improved sentiment in regional markets after Wall Street surged more than 1.5 per cent in overnight trade failed to be replicated in the local market.
“Immediate support for the FBM KLCI stays at 1,680 while immediate resistance will be the recent high of 1,705,” he added.
Among heavyweights, Maybank eased two sen to RM9.54 and Public Bank lost six sen to RM24.90.
TNB perked six sen to RM13.16, Petronas Chemicals gained two sen to RM8.43 and CIMB gained one sen to RM5.83.
Of the actives, E&O improved 2.5 sen to 87.5 sen, Velesto Energy gained two sen to 22.5 sen, Econpile climbed 1.5 sen to 49.5 sen and Barakah edged-up one sen to 14.5 sen.
Tatt Giap was flat at 10 sen.
The FBM Emas Index increased 10.51 points to 11,738.26, the FBMT 100 improved 10.24 points to 11,605.88 and the FBM Emas Shariah Index went up 24.1 points to 11,605.54.
The FBM Ace Index was 17.09 points higher at 4,633.58 and the FBM 70 rose 35.79 points to 14,012.16.
Sector-wise, the Financial Services Index was down 2.91 points to 17,715.1 while the Plantation Index edged-up 17.02 points to 7,348.11 and the Industrial Products and Services Index was 0.39 of-a-point higher at 161.42.
Market breadth was positive with gainers outpacing losers 204 to 95, while 202 counters were unchanged, 1,352 untraded and 23 others suspended.
Turnover was at 244.39 million shares worth RM103.19 million.
Gold futures contracts on Bursa Malaysia Derivatives opened untraded today.
As at 9.32 am, February 2019, March 2019, April 2019 and May 2019 stood at RM171.30, RM171.30, RM171.60 and RM171.70 a gramme respectively.
Volume was nil, while open interest amounted to 21 contracts.
At 9.30 am, the price of physical gold was down 62 sen to RM165.73 a gramme from RM166.35 yesterday. — Bernama
TOKYO, Feb 13 — Asian stocks pulled ahead and safe-haven government bonds came under further pressure today on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute. MSCI’s…
NEW YORK, Feb 13 — Wall Street stocks jumped yesterday as President Donald Trump downplayed the chance of another government shutdown and said he could delay new tariffs on Chinese imports. The Dow jones Industrial Average snapped a four-day…
NEW YORK, Feb 12 — Wall Street rose today, fueled by a tentative deal reached by US lawmakers to avoid another partial government shutdown and optimism that the United States and China could reach an agreement during their ongoing trade talks….