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Asian currencies edge up as markets reassess trade war disruptions

BENGALURU: Asian currencies strengthened for the third consecutive day on Friday, supported by a weaker dollar and shifting views over how much damage the Sino-U.S. trade war will inflict on global demand and export-reliant regional economies.

Pinehill Pacific hits limit-up on Perak land sale

KUALA LUMPUR: Shares in Pinehill Pacific Bhd (PinePac) jumped by a maximum trading limit on Friday after the loss making company announced a plan to sell its oil palm estate in Perak to United Plantations Bhd for RM413.57mil cash.

Local equity extends gains on mounting optimism

KUALA LUMPUR: Bursa Malaysia extended its gains in a broad-based rally as confidence grew that countermeasures to cushion the impact of the trade war would offset the negatives.

Goldman backs commodities as investors shrug off trade war shots

SINGAPORE: Commodity bull Goldman Sachs Group Inc. says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in major economies remains strong, and consumers who’d put off purchases in recent months start buying again.

Asian stocks extend recovery as trade worries take back seat

TOKYO: Asian stocks extended gains on Friday after Wall Street's S&P 500 set a new all-time high, while the dollar slipped as investors viewed Beijing's and Washington's fresh exchange of import tariffs as less harmful than initially feared.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade, extending the recovery from its 14-month low hit on Sept. 12 to 3.6 percent.  Japan's Nikkei rose 0.5 percent, hitting an eight-month high.  On Wall Street, trade-sensitive industrial stocks led the gains on Thursday. The Dow Jones Industrial Average rose 0.95 percent while the S&P 500 gained 0.78 percent, both hitting record highs.

Indonesia aims to coax, not compel, exporters to convert dollar

JAKARTA: Indonesia's finance minister said the government aims to "persuade" exporters to keep earnings onshore and convert them into rupiah, rather than make this mandatory, amid confusion over a plan floated this week to support the ailing currency.

Some analysts point to tougher rules in Malaysia and Thailand, though also question whether copying them could breach Indonesia's free foreign exchange regime.  Malaysia has, since 2016, required exporters to convert 75 percent of their earnings to ringgit, while Thai exporters must keep export proceeds above a certain amount in authorized banks for 360 days.