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Shares on Bursa Malaysia recouped losses for the third day after the recent sell-down as institutional funds sought more bargains.
FINALLY, the inevitable is beginning to unfold, with the US dollar climbing down from dizzy heights. There has been a consensus among the analysts for quite a while that the strong dollar was neither sustainable nor desirable, given the huge budget and current account US deficits.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said the central bank has stopped raising borrowing costs and expects inflation to fall below 3%, joining other central bankers in signalling an end to interest rate increases.
Gold prices in Asia fell for a third day on speculation the US Federal Reserve, the Bank of Japan and the European Central Bank (ECB) may raise interest rates, eroding the metal's appeal as an alternative investment.
Buying support for select heavyweight stocks helped the Kuala Lumpur Composite Index (KLCI) recover slightly Tuesday after falling for eight consecutive trading days.
Mayur Ajmani bought copper last month only to see US$11,000 of his investment vanish in an hour when the metal had its biggest decline May 15 since 2004.