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BENGALURU: Asia's emerging market stocks advanced after initial hiccups on Thursday, as minutes from the U.S. Federal Reserve signalled the potential for a pause in rate hikes later this year, even as concerns over growth in China pressured local currencies.
WASHINGTON: All participants at the Federal Reserve's May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy's performance and was at risk of racing higher without action by the U.S. central bank, minutes of the session showed on Wednesday.
NEW YORK: Global shares rose on Wednesday after notes from the U.S. Federal Reserve's early May meeting showed a strong likelihood that the world's most powerful central bank will approve two more half-percentage-point rate hikes in coming months.
KUALA LUMPUR: The ringgit closed slightly higher against the US dollar today despite growing concerns that China's latest policy measure would be ineffective at stimulating the economy, said an analyst.
KUALA LUMPUR: Malaysia is on track to continue leading the growth of Islamic banking in Southeast Asia, said S&P Global Ratings.
BENGALURU: Asia's emerging market stocks rose on Wednesday to partially offset some losses posted earlier in the week even as slowdown worries persist, with central banks across the world facing pressure to pursue aggressive rate hikes to contain inflation.