22
Sel, Jan
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KUALA LUMPUR - Share prices on Bursa Malaysia opened sharply lower in early trade this morning and in tracking its regional peers, as concerns over China's slowing growth continued to dominate investors sentiment, dealers said.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,546.97, down 27.70 points, after opening 21.42 points lower at 1,553.25.

Losers outpaced gainers 447 to 42, while 90 counters remained unchanged, 1,222 untraded and 10 others suspended.

Turnover stood at 217.96 million shares worth RM89.16 million.

A dealer said China's plan to move its main state pension fund into the stock market - the latest attempt to stop the slide on the bourse - triggered deeper concerns over the health of the world's second largest economy.

On the scoreboard, the FBM Emas Index fell 180.95 points to 10,614.02, the FBMT100 Index was down 183.01 points to 10,346.76, and the FBM Emas Shariah Index dropped 180.78 points to 11,009.11.

The FBM 70 declined 192.30 points to 11,343.89 and the FBM Ace depreciated 138.23 points to 5,072.50.

On a sectoral basis, the Finance Index slid 256.34 points to 13,875.98, the Industrial Index shed 27.24 points for 2,999.25

SINGAPORE: The ringgit hit afresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four years.

The ringgit lost 0.9% to 4.2200 per dollar,its weakest since Aug 31, 1998.

The ringgit was pegged at at 3.8000 to the dollar in September 1998 and maintained there until 2005.

Malaysia's international reserves fell to US$94.5 billion as of Aug 14 from US$96.7

PUTRAJAYA: Despite the depreciating value of the Ringgit, Malaysia will not impose capital controls or implement a peg the currency to the US Dollar, said Prime Minister Datuk Seri Najib Tun Razak (pic).

Najib, who is also Finance Minister, said this was because Malaysian economic fundamentals remained sound and that the currency devaluation was largely due to the "overwhelming strengthening" of the US Dollar.

He said the decision was made following extensive discussions with Bank Negara

KUALA LUMPUR: The ringgit continued its slide against the US dollar to hit a low of 4.1230 in early Tuesday trade while the FBM KLCI extended its decline, albeit at a slower pace due to local fund support.

At 10.16am, the ringgit was off its earlier low to trade at 4.1065 to the greenback comapred with its previous close of 4.0995.

The KLCI was down 1.84 points or 0.12% to 1,570.70. Turnover was 663.58 million shares valued at RM366.88mil. There were 243 gainers to 328 losers.

BIMB

KUALA LUMPUR: Key Asian markets were hammered early Friday while at Bursa Malaysia, the FBM KLCI fell more than 17 points after the overnight tumble on Wall Street.

At 9.23am, the KLCI was down 17.35 points or 1.10% to RM1,560.06. Turnover was 268.13 million shares valued at RM151.27mil. There were 403 losers  to 74 gainers while 131 counters were unchanged.

Reuters reported Asian stocks followed Wall Street lower, as fears took hold of a China-led deceleration in global growth.

The report

KUALA LUMPUR: BIMB Securities Research expects the local market to remain volatile with slight downward bias on continuous selling by foreign investors.

The research house said on Wednesday the FBM KLCI was expected to hover around 1,570 to 1,580.

On Tuesday, the KLCI ended higher, gaining 7.06 points or 0.45% to 1,579.60 on bargain hunting, mainly on banking and telco stocks. 

However, the research house said foreign investors remained the net seller yesterday with outflow of RM317.4mil

SINGAPORE: Oil prices dipped again in early Asian trading on Tuesday as traders expected lower refinery consumption after the U.S. summer, while Asia's weakening economies and high global production raised concerns about oversupply.

U.S. crude futures were trading at $41.84 per barrel at 0014 GMT, 3 cents below their last settlement and not far off more than six-year lows touched earlier this week. Brent futures were at $48.61 a barrel, down 13 cents but still some way from their 2015-low of

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