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KUALA LUMPUR: BIMB Securities Research expects the Malaysian stock market to stage a technical rebound on Tuesday as investor sentiment could be boosted by the overnight surge on Wall Street.

Wall Street snapped its seven-day losing streak, as a recovery in oil prices and Warren Buffett’s acquisition of Precision Castparts boosted investor sentiment.

The DJIA gained 1.39% to end at 17,615.17 while the S&P 500 surged 1.28% to 2,104.18.

European markets also finished higher with Greece’s negotiations over a new bailout could conclude soon. Regionally, key indexes ended mostly positive, however, the outlook in China contrasted with solid US data with Chinese producer prices in July hit their lowest point since late 2009 and exports tumbled 8.3% in the same month.

BIMB Research said at Bursa Malaysia, the KLCI skidded 28.28 points to close at 1,654.37 as foreign outflow persisted.

Foreign funds were net sellers at –RM230.50mil on Monday. However, retail investors were net buyers at RM22.60mil and local funds at RM207.9mil.

 “We reckon it (foreign selling) could also be due to the political undercurrent at the moment. Nevertheless, we expect the local market to gain buying

KUALA LUMPUR - Short- term interbank rates are expected to remain stable today on Bank Negara Malaysia (BNM)'s intervention to absorb excess liquidity from the financial system.

BNM estimated today's liquidity at RM39.154 billion in the conventional system and RM10.583 billion in Islamic funds.

The central bank will conduct a RM6 billion conventional money market tender for seven days, a RM500 million repo for 31 days, two Qards of RM1 billion and RM1.8 billion for four days and seven days

NEW YORK: Oil set multi-month lows on Thursday as investors and traders sought clues about the market's next bottom after a large drop in US crude inventories failed to boost prices.

A bigger-than-expected build in US gasoline stockpiles last week proved more important to investors than crude storage numbers that came in three times below forecast on Wednesday.

Brent, the global oil benchmark, settled down 7 cents at US$49.52 a barrel, after setting a six-month low at US$48.88.

US crude

KUALA LUMPUR - Bursa Malaysia opened lower Friday on lack of catalyst in line with the overnight decline of US shares, a dealer said.

At 9.59 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 15.49 points down at 1,679.15, after opening 2.31 points easier at 1,692.33.

A dealer told Bernama that US employment data, due later today, may shed some light on whether the Federal Reserve will raise interest rates in September.

On the scoreboard, the FBM Emas Index fell 47.53 points to

SINGAPORE: The ringgit stayed near a pre-peg 17-year low on Monday after news Malaysia' foreign exchange reserves fell below US$100 billion threshold, raising doubts over the currency's ability to withstand further political fallout and low commodity prices.

The ringgit stood at 3.9245 per dollar as of 0109 GMT, compared to the previous close of 3.9220.

The currency on Friday hit 3.9280, its weakest since Sept. 2 1998, the day before the government pegged it at 3.8000 per dollar to put a

KUALA LUMPUR: The ringgit opened lower against the US dollar on Friday as foreign banks continued to offload the currency, a trader said.

At 9.02 am, the ringgit was quoted at 3.9155/9185 against the greenback from 3.9005/9035 at 5 pm yesterday. 

"The ringgit breached the 3.9000 per dollar for the first time since the Asian financial crisis 17 years ago, pressured by lack of domestic leads and falling commodity prices, which hurt investor confidence," he said.

The ringgit traded lower

KUALA LUMPUR - Shares on Bursa Malaysia were traded higher this morning, supported by China's positive stock market outcome, a dealer said.

At 9.03 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.33 points better at 1,725.06 after opening 0.2 points lower at 1,723.53.

She said the rise of the shares was prompted by limits imposed by Chinese regulators on short selling on the mainland in its quest to stabilize the market.

The Shanghai Composite Index rose 133.64 points or 3.69 per

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