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China’s command economy

ONE hedge fund investor says Kyle Bass, Jim Chanos and other China bears are missing a key piece of the equation. Global investors have underestimated the power of China’s command economy, where leaders can cancel or forgive debts and control the currency, Mark Yusko, chief investment officer of Morgan Creek Capital Management, says in an interview.

Controlled market: A man walks past a construction site in Beijing. China’s unique ability to control its market ensured that predictions of a yuan crash, a debt crisis and an economic hard landing didn’t play out.

Malaysian palm oil price erases gains on weaker soyoil, profit taking

KUALA LUMPUR: Malaysian palm oil futures erased earlier gains to fall to a two-week low on Thursday evening, weighed down by weaker soyoil prices on the Chicago Board of Trade (CBOT) and as traders took profits ahead of a long weekend.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange declined 1.2 percent to 2,737 ringgit ($652.29) a tonne at the close of trade.

Fed's 'Great Unwinding' lifts dollar, yields and bank stocks

LONDON: Signals the Federal Reserve will hike U.S. interest rates again this year and begin the 'Great Unwinding' of a decade of aggressive stimulus, drove the dollar to a two-month high versus the yen on Thursday and sent bonds and commodities lower.

The higher dollar strained commodity markets. Gold hit a three-week low of $1,296 per ounce.

Allana welcomes more Bumiputera players in meat import business

KUALA LUMPUR: Allana Group, the world's largest halal meat producer, welcomes the government's move to increase Bumiputera participation in the meat import business.

Hong Kong shares end flat, firmer banks offset commodities

HONG KONG: Hong Kong shares ended Thursday little changed, as strength in financial and consumer stocks countered a slump in the resources sector triggered by a stronger dollar amid revived expectations of another U.S. rate increase later this year.

Diary Malaysia Thursday Sept 21


THURSDAY, SEPTEMBER 21  KUALA LUMPUR- Prime Minister Najib Tun Razak attends the 9th ASEAN Para Games (APG) Basketball final match between Malaysia and Thailand at the Malaysia International Trade & Exhibition Centre (MITEC) Jalan Sultan Haji Ahmad Shah at 1715 (0915 GMT)  KUALA LUMPUR- Press conference by Allana Group, India’s largest exporter of branded processed food products and agro commodities at Grand Residence Room 101, Grand Hyatt, 12, Jalan Pinang, Kuala Lumpur City Centre at 1100 (0300 GMT)

Asia markets steady after Wall St. notches record highs, US$ firm(Update)

TOKYO: Asian stocks were mostly steady on Wednesday after Wall Street again rose to record highs, although movements were limited as a wait-and-see mood prevailed before the Federal Reserve reveals its monetary policy stance later in the day

A pedestrian walks past an electronic stock indicator at the window of a security company in Tokyo on September 19, 2017. Tokyo's benchmark Nikkei index rose past 20,000 for the first time in six weeks on September 19 after Wall Street edged up to a new record close and a weak yen lifted exports. - AFP

China's rubber appetite fails to boost prices amid over-supply

LAUNCESTON, Australia: Pop quiz. Of the major commodities where China is the world's biggest buyer, which has seen the largest increase in imports so far this year?
The answer is rubber, both natural and synthetic.

The declines came as a meeting of the top producers, Thailand, Malaysia and Indonesia, decided not to curb output of the commodity mainly used to make vehicle tyres.  The top three producers, which account for about 70 percent of global natural rubber supplies, have struggled for several years to rein in excess output, generally with limited success.

Malaysian palm oil price hits one-week low on technical drop

KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in a week on Tuesday evening, a fourth straight session of falls, due to a technical correction and traders' expectations that export demand will cool towards the end of the month..

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 1.4 percent to 2,767 ringgit ($660.38) a tonne at the closing trade, its sharpest daily drop in a month and a half.  It earlier fell to an intra-day low of 2,766 ringgit, its lowest since Sept. 11

China’s rubber appetite fails to boost prices amid oversupply

Despite strong Chinese demand, rubber prices are likely to struggle, with demand-led gains an extremely slow process, until the major producers can convince the market that they are serious about lowering output.