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Oil prices slipped after earlier gains on Thursday, weighed by rising Covid-19 infections in India and elsewhere, and despite a much sharper than expected fall in US crude inventories.
Malaysia’s industrial production index (IPI) surged 9.3% in March from a year ago, exceeding a Bloomberg survey of an 8.7%, as the growth was powered by the manufacturing and electricity segments.
KUALA LUMPUR: The ringgit reversed its gains to open slightly lower against the US dollar today, as traders were seen adopting a wait-and-see approach due to the enforcement of the Movement Control Order (MCO) 3.0, a dealer said.
NEW YORK: Oil ended little changed on Wednesday after two days of gains despite a sharp drawdown in U.S. crude stocks, as the market weighs the outlook for demand with coronavirus infections still surging worldwide.
As of April 20, Vietnam attracted US$12.25 billion in foreign direct investment (FDI), equivalent to 99.3 per cent compared to the same period last year, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
The FBM KLCI closed at the day's low on Wednesday, weighed down losses in banks and gloves as buying sentiment remained weak due to the rising Covid-19 numbers and also tracking the downbeat key Asian markets.
PETALING JAYA: The price of RON97 petrol will increase by two sen from May 6 to 12, says the Finance Ministry.
Palm oil fluctuated as investors weighed the bullish impact of the relentless rally in global farm commodities with increasing stockpiles of the tropical oil in second-biggest grower Malaysia.
SINGAPORE: Oil prices rose on Wednesday, extending gains from the previous session after industry data indicated U.S. crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world's largest economy.