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While the political drama in the country is the most talked-about topic now, it’s time to turn our attention back to money matters. Our livelihood depends on it.
PETALING JAYA: The ringgit’s exchange rate dropped to 3.91 against the US dollar, which is a new 17-year low, as the sell-off in the stock market intensified amid weakening growth prospects continuing to weigh down on investor sentiment.
KUALA LUMPUR: MIDF Equities Research estimates that cumulative net foreign outflow from Malaysian equities rose to RM11.7bil at end July, significantly surpassing the RM6.9b outflow for the entire 2014.
MALAYSIA’S capital markets are undergoing a change.
KUALA LUMPUR: The local stock market got off to a strong start early Monday, underpinned by gains in Petronas Gas, while there was rising interest in mid-cap stocks.
PETALING JAYA: The simmering economic crisis in Greece and weakness in China continued to roil financial markets across the region, with the ringgit being the hardest hit among Asian currencies. Sentiment on the ringgit was further compounded by rising domestic political risk, lingering concerns about 1Malaysia Development Bhd’s massive debt problems and lower oil revenue.
PETALING JAYA: The fallout from Greece’s possible exit from the European Union following its debt crisis is unlikely to have a contagion effect on the Malaysian economy for now. But the concern is more on Fitch’s credit rating of Malaysia that could impact the ringgit, which is seeing minimal effects from the Greece problem.