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Ringgit declines against US$ on weak oil prices

KUALA LUMPUR: The ringgit was lower against the US dollar in early session Wednesday as buying sentiment for the local note was hampered by weaker global oil price.

At 9.06 am (0106 gmt), the ringgit stood at 4.1340/1390 against the greenback from 4.1300/1350 recorded at the close Tuesday.

Asian shares, US stock futures dented by growth worries(Update)

SYDNEY: Asian shares and U.S. stock futures slipped on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, drifting away from a recent seven-week top.  Losses were led by Chinese shares, with the blue-chip index off 0.6 percent. Hong Kong's Hang Seng index was down 0.4 percent and Australia's main share index faltered 0.5 percent.  Japan's Nikkei, which had opened firmer, was flat. U.S. stock futures, which offer an indication of how Wall Street will open, were down about 0.5 percent.

Global Forex Market

THE US dollar edged higher over the week, up 0.48% to 96.1 largely due to a sharp weakening in the euro. Meanwhile, the US government shutdown has stretched to 27 days as both President Trump and the Democrats remained unwilling to back off from their stands over the border wall funding. The concerns on the continued shutdown have weighed slightly on the dollar.

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