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AS economies across the globe prepare to embrace the new norms of living with the pandemic while trying to return to the normalcy of pre-pandemic days, the world was stirred yet again by the discovery of a new variant called Omicron.
SYDNEY: Asian stocks wobbled and risk-sensitive currencies in the region sagged on Friday as investors bet inflation will prompt U.S. rate rises next year, even with the new Omicron coronavirus variant casting a cloud over the outlook.
BENGALURU: prices rose on Friday but a more hawkish stance of U.S. Federal Reserve officials on stimulus tapering and interest rate rises put the metal on course for a third straight weekly drop.
KUALA LUMPUR: The ringgit continued its slide against the US dollar at opening today, as the greenback strengthens further amid uncertainties surrounding the Omicron variant, which prompted risk aversion, as well as Federal Reserve’s (Fed) continued hawkish statement, dealers said.
PETALING JAYA: The third-quarter earnings season was broadly within expectations, although it is no secret that the prolonged Covid-19 restrictions have kept expectations fairly low.
OMICRON won’t stop investors betting on a post-pandemic world but it delays the “all clear” – possibly dampening the worst of the winter inflation scare and avoiding reflex policy reactions.
KUALA LUMPUR: The ringgit retreated further against the US dollar at opening today, as the greenback continued to strengthen amid a rush to safe-haven assets.
KUALA LUMPUR: Bursa Malaysia showed further signs of weakness on Thursday, defying hopes for a rebound after the US announced it had detected its first case of the Omicron virus within its borders.
The Fed chair’s testimony to the Senate Banking Committee indicates a shift to inflation-fighting mode.