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The governor said that to further deepen the local hedging market, Bank Negara was working with the Securities Commission and Bursa Malaysia to introduce a US dollar and yuan-ringgit futures onshore exchange.

Bank Negara eases hedging rules

PETALING JAYA: Bank Negara will make it easier for local companies and individuals to hedge their US dollar and Chinese yuan requirements at home.

“It’s been net sell everyday for almost two weeks. “Since Oct 20, about RM3.2bil in stocks have been sold by foreigners,’’ noted Pong Teng Siew, head of research, Inter-Pacific Securities.

Malaysian market outlook remains uncertain

WHILE many regard the selling on the stockmarket to be overdone, there are those who caution that foreigners may not be done yet with their selling.

Chief executive officer Datuk Wan Kamaruzaman Wan Ahmad, however, has ruled out buying stakes in new projects. “Our risk appetite is moderate, so despite the high expected returns, we generally avoid greenfield infrastructure assets,” Wan Kamaruzaman said in an emailed reply to StarBiz.

Retirement fund KWAP seeks power and transportation assets

PETALING JAYA: Retirement Fund Inc (KWAP), which manages RM120bil in investments, is eyeing direct acquisitions in the power and transportation sectors, as the pension fund seeks to diversify its income base and boost returns in a low interest rate market.

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At 9.01 am(0101gmt), the local unit was traded at 4.4150/4250 against the greenback from 4.4140/4190 on last Friday.

Ringgit opens lower against US$ Monday

KUALA LUMPUR: The ringgit opened marginally lower against the US dollar Monday as stronger oil prices helped cushion any further downtrend, dealers said.

21 November 2016 | 9:50AM |

Banking

“Orders for stretch-film and polyvinyl chloride (PVC) food wraps have risen by about 20% so far this year,” group managing director Datuk Ang Poon Chuan(filepic taken at production plant in Sungai Patani) told StarBiz.

Thong Guan expects double-digit growth

GEORGE TOWN: Packaging firm Thong Guan Industries Bhd sees rising orders for food wraps from its Asian customers and the weaker ringgit lifting its earnings this year.

21 November 2016 | 12:00AM |

Earnings

Traders in Malaysia, India's largest palm oil supplier taking up half of its imports last year, say the absence of the large bills has already impacted sales. Indian buyers are delaying shipments and cancelling vessel space bookings, and the traders expect them to hold back further in the month ahead.

Indian cash crunch seen to choke off M'sian palm oil exports

MUMBAI/KUALA LUMPUR: India's palm oil imports are expected to slip next month by up to a fifth, including from the top two producers Indonesia and Malaysia, as New Delhi's removal of high-value rupee notes from circulation disrupts distribution systems and curbs demand. Malaysia is the main supplier of palm oil to India.

21 November 2016 | 8:04AM |

Palm Oil

Malaysian fintech firms to form association

KUALA LUMPUR: Malaysian financial technology (fintech) firms are setting up their own umbrella body as a platform for these emerging companies to work with industry regulators and expand their business.

21 November 2016 | 12:00AM |

Fintech

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near four-month lows. Japan's Nikkei rose 0.3 percent as the yen continued to slip against the dollar.

Asian shares on the defensive in early trade Monday

TOKYO: Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump's election to president could accelerate fund outflows from emerging markets.

21 November 2016 | 8:40AM |

Stocks

IMF Managing Director Christine Lagarde(pic) conveyed her views on the matter to Prime Minister Datuk Seri Najib Tun Razak during an unofficial dialogue held on the sidelines of the APEC Leaders Meeting on Sunday.

IMF supportive of Malaysia's currency move

LIMA: The International Monetary Fund (IMF), supportive of Malaysia's currency move, has acknowledged that the ringgit's current volatile movements were out of control.

21 November 2016 | 10:22AM |

Economy

At 9.01 am(0101gmt), the local unit was traded at 4.4150/4250 against the greenback from 4.4140/4190 on last Friday.

Ringgit opens lower against US$ Monday

KUALA LUMPUR: The ringgit opened marginally lower against the US dollar Monday as stronger oil prices helped cushion any further downtrend, dealers said.

21 November 2016 | 9:50AM |

Banking

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near four-month lows. Japan's Nikkei rose 0.3 percent as the yen continued to slip against the dollar.

Asian shares on the defensive in early trade Monday

TOKYO: Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump's election to president could accelerate fund outflows from emerging markets.

21 November 2016 | 8:40AM |

Stocks

APEC leaders commit to fighting 'all forms' of protectionism

LIMA: Pacific rim leaders said on Sunday that they were committed to fighting "all forms of protectionism," and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form.

21 November 2016 | 8:15AM |

Economy

Traders in Malaysia, India's largest palm oil supplier taking up half of its imports last year, say the absence of the large bills has already impacted sales. Indian buyers are delaying shipments and cancelling vessel space bookings, and the traders expect them to hold back further in the month ahead.

Indian cash crunch seen to choke off M'sian palm oil exports

MUMBAI/KUALA LUMPUR: India's palm oil imports are expected to slip next month by up to a fifth, including from the top two producers Indonesia and Malaysia, as New Delhi's removal of high-value rupee notes from circulation disrupts distribution systems and curbs demand. Malaysia is the main supplier of palm oil to India.

21 November 2016 | 8:04AM |

Palm Oil

“Orders for stretch-film and polyvinyl chloride (PVC) food wraps have risen by about 20% so far this year,” group managing director Datuk Ang Poon Chuan(filepic taken at production plant in Sungai Patani) told StarBiz.

Thong Guan expects double-digit growth

GEORGE TOWN: Packaging firm Thong Guan Industries Bhd sees rising orders for food wraps from its Asian customers and the weaker ringgit lifting its earnings this year.

21 November 2016 | 12:00AM |

Earnings

Clarity needed: After the initial repositioning from the Trump trade, Wall Street investors may require details or clarity about tax-cutting or spending plans from the new administration to keep momentum going in those stocks.

After initial Trump trade, politics keep stocks on edge

NEW YORK: Arguing over politics is a Thanksgiving Day tradition, but Donald Trump’s presidential election adds a new twist to any bickering at next week’s holiday dinner table: What the new US government could mean for your stock portfolio.

21 November 2016 | 12:00AM |

Stocks

Malaysian fintech firms to form association

KUALA LUMPUR: Malaysian financial technology (fintech) firms are setting up their own umbrella body as a platform for these emerging companies to work with industry regulators and expand their business.

21 November 2016 | 12:00AM |

Fintech

Going for IPO: The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz in Zurich. – Reuters

Credit Suisse moves towards Swiss bank spin-off

ZURICH: Credit Suisse has moved more than one million customers into a new Swiss bank which went live on Sunday, a step towards what could be Switzerland’s biggest stock market listing in more than a decade.

21 November 2016 | 12:00AM |

Banking

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