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Brokerage upgrades MPI to ‘buy’

KUALA LUMPUR: RHB Research has upgraded Malaysian Pacific Industries Bhd (MPI) to “buy” with an unchanged target price of RM11.21, which is a 27% upside plus 3.8% forecast financial year 2019 yield.

Astro upgraded to ‘buy’

PETALING JAYA: Investors should start looking at Astro Malaysia Holdings Bhd as its share price has been battered down in the past three months and it offers an attractive dividend yield, according to Citi Research.

Turkish central bank raises reserve requirements on forex deposits

ANKARA: Turkey's central bank said on Monday it had increased commercial banks' reserve requirement rates for foreign exchange deposits, extending policy changes aimed at discouraging locals from converting their lira savings to other currencies.

Turks have flocked to foreign currencies since a currency crisis last year eroded confidence in the lira.

South Korea's won hammered as funds buy foreign stocks

SEOUL: As if South Korea’s won doesn’t have enough to worry about, a stampede in local investors toward overseas assets is threatening further losses in Asia’s worst-performing currency.

Ringgit ekes out slight gains against US$

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Monday on improved oil prices, recovering some demand for the local note, dealers said.

Dollar tumbles as trade war hits US economic data

NEW YORK: The dollar fell on Friday from a two-year high against a basket of major currencies after orders for U.S.-made capital goods fell, further evidence that manufacturing and the broader economy are slowing, due in part to the U.S.-China trade dispute.

MPI reports lower third quarter earnings

KUALA LUMPUR: Chip maker Malaysian Pacific Industries Bhd (MPI) saw its earnings take a hit in the third quarter ended March 31, 2019 due to lower revenue and foreign exchange (forex) loss and it expects the operating environment to remain challenging.