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KLCI closes slightly lower, shrugs off late selling

KUALA LUMPUR: Fund buying of Petronas Dagangan and Nestle enabled the FBM KLCI to shrug off the late selling pressure on Thursday after the US Federal Reserve raised rates with expectation of another two hikes for the year.

Asean markets fall after Fed hike; Thailand hits 6-month low

SINGAPORE: Southeast Asian stock markets traded lower on Thursday, with Thai shares hitting six-month lows,after the U.S. Federal Reserve raised rates, as expected, and took a more hawkish tone regarding the pace of rate hikes for the rest of the year.

China's central bank unexpectedly holds fire on rates as economy wobbles

SHANGHAI: China's central bank left borrowing costs for interbank loans unchanged on Thursday, a surprising decision that shrugged off the U.S. Federal Reserve's policy rate increase and came as data showed the world's second-biggest economy lost more steam than expected.

Industrial output, investment and retail sales all grew less than expected, data showed on Thursday, offsetting upbeat trade data and suggesting further weakness ahead if Beijing perseveres with its crackdown on factory pollution and   questionable local government spending.

China May industrial output weaker than expected

BEIJING: China reported weaker-than-expected activity data for May, adding to views the economy is finally starting to slow under the weight of a prolonged crackdown on riskier lending that is pushing up borrowing costs for companies and consumers.

Workers dismantle used television sets at a recycling plant in Neijiang, Sichuan province, China June 11, 2018. REUTERS

Hong Kong's central bank raises base rate 25 bps after Fed hike

HONG KONG: The Hong Kong Monetary Authority (HKMA) raised the base rate charged through its overnight discount window by 25 basis points on Thursday to 2.25 percent after the U.S Federal Reserve raised interest rates by a quarter of a percentage point.

Ringgit slips against US$ on US Fed interest rate hikes

KUALA LUMPUR: The ringgit slipped further against the US dollar early Thursday, nearing the 4.00 level after the US Federal Open Market Committee hinted at two rate hikes this year, but the market is still cautious on uncertainty over the European Central Bank's (ECB) quantitative easing plans

OANDA Head of Trading in Asia-Pacific, Stephen Innes said the market should anticipate another lazy day Thursday with investors remaining sidelined ahead of the ECB meeting as they remain glued to macro moves in the global interest rate environment.

Supermax hits all-time high

KUALA LUMPUR: Shares of Supermax Corp Bhd hit a record RM4.02 on Thursday trading after securing Japanese licence for its contact lens business.