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Inflation sends Philippine markets down amid EM rout

MANILA: Philippine stocks and the peso led declines in Asia after Wednesday's jump in inflation coincided with an intensifying emerging-market sell-off, and Jefferies Hong Kong Ltd. downgraded the nation's equities.

Bank Negara seen focusing more on core inflation

PETALING JAYA: Bank Negara’s slightly more cautious tone on the state of the economy when it announced the overnight policy rate (OPR) is a reflection of the more challenging environment and growth risks that the country faces at the moment, says HSBC Global Research.

“However, we don’t see this as a sign that Bank Negara is turning more dovish. In fact, private consumption remains strong growing at 8% year-on-year (y-o-y) in the second quarter, while private investment has also been quite resilient growing at 6.1%,” HSBC Global Research said.

International reserves go up to US$104.4bil

PETALING JAYA: Bank Negara’s international reserves have increased marginally by US$200mil to US$104.4bil as at Aug 30, as compared to US$104.2bil two weeks ago.

In a statement issued yesterday, the central bank pointed out that its current international reserves amount was sufficient to finance 7.5 months of retained imports and is equivalent to 0.9 times the short-term external debt

KLCI bucks regional downtrend, gains 0.17%

KUALA LUMPUR: Bursa Malaysia bucked the regional trend to close higher on buying interest in telecommunication and selected banking heavyweights.

BNM international reserves at US$104.4bil

KUALA LUMPUR: Bank Negara Malaysia’s international reserves rose marginally to US$104.4bil as at August 31 from US$104.2bil two weeks earlier.

Signals point to possible rate hike in Indonesia

SINGAPORE: The steepest surge in Indonesia’s two-year government bond yields since 2012 may be a sign that traders are betting on a hike in the policy rate before the central bank’s scheduled meeting at the end of this month.

Most vulnerable: The rupiah was near a psychological threshold of 15,000 per dollar after data showing South Africa’s economy fell into a recession. — Reuters

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