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KUALA LUMPUR: BIMB Securities Research expects Bursa Malaysia to be in the red on Tuesday following the dampened sentiment all over the world.

It said the main factors were the major sell-off in China and continuous outflow of foreign investors.

“We expect the index to test its critical support level at 1,700,” it said.

On Monday, the KLCI closed down 11 points or 0.64% to 1,709.76, dragged down mainly by banking stocks.

BIMB Research said trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.  

Foreign funds were net sellers at -RM259.8mil and retailers at -RM10.2mil while local institutions were net buyers at RM270mil.

Overnight, Europe and Wall Street ended lower following a meltdown in Chinese stock markets.

BIMB Research said the DJIA fell 0.73% to end at 17,440.59 and the broader S&P500 lost 0.58% to close at 2,067.64.

China suffered the sharpest daily fall since 2007, losing 8.48% as worries mount that Beijing are pulling back on measures to prop up the market. The spill-over effect caused most key regional markets to end lower.

-The Star Online

KUALA LUMPUR: For the past three weeks, Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise U.S. interest rates.

The ringgit has traded around 3.81 per dollar since July 6, exceeding the 3.80 level of the peg set by the government between 1998 and 2005. Economists warn against intervention to shore up the ringgit, as Malaysia's

SINGAPORE: Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses.

Investors are looking to the US Federal Reserve for direction this week. The central bank starts a two-day policy meeting on Tuesday that could result in a September interest rate hike that would strengthen the greenback.

"The markets are looking for price guidance from

KUALA LUMPUR: The ringgit was slightly lower against the US dollar in early trade today on weak demand and lack of local catalysts.

At 9.24 am, the ringgit was quoted at 3.8090/8120 against the greenback from 3.8080/8100 recorded at 5 pm last Friday.

Against other major currencies, the ringgit was also traded mostly lower.

It appreciated versus the Singapore dollar to 2.7760/7802 from 2.7763/7798 last week but depreciated against the yen to 3.0792/0826 from 3.0715/0733.

The ringgit fell

Asian stocks retreated for a fifth day as the selloff in China deepened. Oil declined, while New Zealand’s currency rallied from near a six-year low.

The MSCI Asia Pacific Index dropped 1.1 percent at 10:34 a.m. in Tokyo, while the Shanghai Composite Index sank 3.2 percent. Futures on the Standard & Poor’s 500 Index were little changed after the measure capped its longest losing streak since January. Crude dropped 0.7 percent in New York, while copper futures rose 0.7 percent. New

SINGAPORE: The ringgit hit a 17-year low on Monday as a global slump in commodity prices added to concerns over sluggish exports, while investors braced for a US Federal Reserve meeting that might take another step toward lifting interest rates.

The ringgit eased 0.1% to 3.8110 per dollar, its weakest since September 1998.

The ringgit pared losses again as the central bank has been spotted intervening to keep the worst performing Asian currency firmer than 3.8100 per dollar, traders said. The

KUALA LUMPUR: Bursa Malaysia and key Asian markets started Monday on a weak note on worries over China while on the local front, foreign selling continued to put pressure.

However, the bright spot was construction-based Ikhmas Jaya Group which made a strong debut on the Main Market.

At 9.16am, the FBM KLCI was down 8.04 points or 0.47% to 1,712.72. Turnover was 276.29 million shares valued at RM98.27mil. There were 139 gainers and 213 losers and 183 counters unchanged.

JF Apex Research said

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