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THE past five trading days saw the FBM KLCI bouncing off from a low of 1,208 points on March 16 to reach as high as 1,353 points on Friday before closing at 1,343 points.
The US dollar declined for four consecutive days, depreciating sharply by 3.37% to 99.352 largely after the Federal Reserve announced an open ended and unlimited quantitative easing (QE) in an attempt to support markets.
KUALA LUMPUR: The local note is expected to trade in volatile mode in line with other emerging market (EM) currencies as the global economy continues to be under pressure as COVID-19 fears continue to grip global markets.
WE are in a way fortunate to experience what normally happens once in a lifetime. It is not often we see multiple events playing out at the same time to create what is define as a perfect storm
The US dollar plunged 1.34% to 96.820 after the Federal Reserve delivered an emergency rate cut – the first time since Oct 15, 2008. The target range now stands at 1.00%–1.25%.
NO! This column in not referring to the recent political turmoil that had engulfed the nation to the point of confusion as we tried to figure out who had that magical 112 parliamentary seats in the bag to form the government.
KUALA LUMPUR: Given the drop in global trade from the Covid-19 outbreak, coupled with a global tech downcycle and weaker commodity prices, the downside risks on Malaysia’s exports and imports are expected to remain in the near future.
SYDNEY: Asian shares were looking to rally for a fourth straight session on Thursday as U.S. markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.
TOKYO: Japan’s services sector shrank at the fastest pace in nearly six years in February as a jolt from the coronavirus threatens to push the economy into recession, dashing hopes of a domestic-led recovery.
BEIJING: China’s services sector had its worst month on record in February as new orders plummeted to their lowest level since the global financial crisis, a business survey showed, with economists urging swift support to avoid mass bankruptcies.