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Local market dips on investor worries

KUALA LUMPUR: The local benchmark index spent most of the morning session in the red on Monday despite most Asian markets rising on strong US jobs data.

Ringgit rises as greenback wavers on political risk

KUALA LUMPUR: The ringgit was slightly higher against the US dollar in the early session as investors' interest shifted away from the greenback due to uncertainty over potential political risks, dealers said.

Global Forex Market

The dollar fell over escalating trade war concerns as US President Trump’s administration pursued to slap tariffs on China.

Bursa continues recovery on bargain hunting

KUALA LUMPUR: The local bourse continued to retrace losses it had made earlier in the week as fears over Italy subsided and bargain hunters picked up cheap valuations.

Ringgit stabilises after bond relief rally

KUALA LUMPUR: The ringgit opened flat versus the US dollar this morning after yesterday's rebound on improved global risk appetite, a dealer said.

CIMB Research upgrades DRB-Hicom to Add, higher target price

KUALA LUMPUR: CIMB Equities Research has upgraded DRB-Hicom from Hold to Add with a higher target price of RM2.70 as it reduced the realised net asset value (RNAV) discount from 30% to 20% to reflect a stronger outlook for a turnaround at Proton.

Soros contention on global crisis seen ‘ridiculous’

BEIJING: Morgan Stanley chief executive officer James Gorman said that investor George Soros’ contention that another major global crisis may be in store is unrealistic, and that the Federal Reserve will probably hike interest rates three more times in 2018 despite recent volatility.

Gorman: I don’t think (the EU) is facing an existential threat at all. — Bloomberg

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