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Another tough day for markets, KLCI extends losses

KUALA LUMPUR: Blue chips fell for the third straight day on Wednesday with the FBM KLCI further into the red, dragged down by losses in banks and Tenaga Nasional, in line with weaker key Asian markets.

Malaysian palm oil price falls over 1% on high stocks

KUALA LUMPUR: Malaysian palm oil futures fell over 1 percent on Tuesday evening to trade around three-year lows, tracking weakness in crude oil and on existing concerns over high palm stocks.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was down 1.3 percent at 2,007 ringgit ($478.77) a tonne at the end of the trading day for a sixth consecutive day of losses.  It earlier fell to an intraday low of 2,006 ringgit, its lowest levels since Sept. 2015.  Trading volumes stood at 38,577 lots of 25 tonnes each at the close of trade.

Petronas unit to up Euro 5 diesel output

MELAKA: Petronas through its subsidiary, Malaysian Refining Company Sdn Bhd (MRCSB), plans to invest more than RM1.5bil to increase the production of Euro 5 diesel for domestic consumption.

MRCSB chief executive officer and managing director Hashim Majid said the company, which supplies about 70% of petrol and diesel demand in the local market, aspired to become the main producer of Euro 5 diesel by 2020