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KUALA LUMPUR: BIMB Securities Research expects the local market to remain positive on Tuesday following improved investor sentiment and attractive valuations.

It said the immediate resistance for the FBM KLCI to be at 1,725 to 1,730 after it closed marginally higher on Monday.

On Monday, trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.

Foreign funds were net sellers at –RM85.4mil and retail investors also net sellers at –RM20.6mil. However, local institutions continued to mop up the selling with net buying at RM106mil.

On the external front, European stocks finished sharply higher after Greece struck a deal that should unlock new funding for the cash-strapped country.

Wall Street also ended sharply higher as investors were relieved that Greece and its creditors reached an agreement on the bailout program. The DJIA and S&P500 gained 1.22% and 1.11% respectively to end at 17,977.68 and 2,099.60 respectively.

In Asia, key indexes ended higher with sharp increase in China, Japan and Hong Kong on falling oil price, boosted airliners and other energy users.

 

The following table shows rates for Asian currencies against the dollar at 0138 GMT(0938 Malaysian time) on Friday July 10.

  CURRENCIES VS U.S. DOLLAR

  Change on the day at 0138 GMT

  Currency    Latest bid   Previous day    Pct Move

  Japan yen       121.83         121.32       -0.42

  Sing dlr        1.3474         1.3498       +0.18

 *Taiwan dlr      31.230         31.230       +0.00

  Korean won     1128.70        1133.90       +0.46

  Baht             33.91          33.96

KUALA LUMPUR: Greece’s new reform proposals to creditors could provide a much needed boost to Bursa Malaysia on Friday.

Reuters reported the reforms raised hopes of a cash-for-reform deal at a weekend summit of European leaders. This saw US stock futures jump and the euro gain in early Asian trade.

Overnight on Wall Street, the key indices ended off highs as investors remained cautious on China and Greece. 

The DJIA and S&P500 gained 0.19% and 0.23% respectively to end at 17,548.62 and

KUALA LUMPUR: A weaker ringgit will attract more foreign investment into the country's property sector, Guocoland (Malaysia) Bhd managing director Tan Lee Koon said on Thursday.

The property arm of Hong Leong Group expects the current exchange rate scenario to spur demand for luxury residences in its Damansara City development, which has a gross development of RM2.5 billion.

On Monday, the ringgit breached the 3.80 level against the US dollar, the level at which it was pegged against the

KUALA LUMPUR: The ringgit extended yesterday’s gains against the US dollar on continued buying interest, dealers said.

In early trading, the ringgit was quoted at 3.7840/7870 to the greenback versus yesterday’s 3.7945/7975. At 9.15 am, the ringgit was firmer against other major currencies, except the euro.

“The downside is very limited for the ringgit against the greenback.

“Bank Negara Malaysia has strongly signalled that the local note was not trading according to its fundamentals and has

BANGKOK: Southeast Asian stock markets were mixed on Thursday, with the Malaysian benchmark ending three days of losses ahead of the central bank's decision to hold rates steady, while Indonesian large caps retreated amid selling led by foreign investors.

Malaysia's central bank held its overnight policy rate at 3.25 percent on Thursday, as expected, keeping policy steady while the Southeast Asian nation and its markets were rocked by corruption allegations against Prime Minister Najib

SINGAPORE: Most emerging Asian currencies rebounded on Thursday as Chinese stocks turned higher, easing concerns over its market rout for now, while Malaysia's ringgit edged up as authorities again intervened to prop up the regiona's worst-performing unit.

Chinese shares started the day sharply lower with CSI300 index down more than 3 percent earlier, indicating a market meltdown is not over yet. The country's stocks have lost about 30 percent over the last three weeks. 

But they reversed the

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