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NEW YORK: U.S. stocks suffered the biggest slump in at least 11 weeks on Wednesday and benchmark Treasury yields jumped after data showed consumer prices in April unexpectedly rose by the highest level in nearly 12 years, prompting bets on earlier interest rate hikes.
Wall Street's major averages fell on Wednesday after stronger-than-expected inflation data stoked fears of tighter monetary policy to combat a possibly longer period of inflation.
The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility at 2.0% for a fourth consecutive meeting
NEW YORK: U.S. stocks hit a one-month low on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares and hobbled the dollar, which hovered near a 2-1/2-month low.
Public Bank Bhd posted a net profit of RM1.53bil in the first quarter ended March 31,2021, which was 15.12% higher than RM1.33bil in the previous corresponding quarter on the back of further expansion of its loans and deposits businesses as well as fee-based revenue growth.
KUALA LUMPUR: The FBM KLCI remained in the red headed into midday following the release of Malaysia's first-quarter GDP result.
NEW YORK: U.S. stocks fell on Monday and the Dow Jones Industrial Average snapped back from a record high, as worries about accelerating inflation dragged on shares and hobbled the dollar, which struggled at a 10-week low.