KUALA LUMPUR: The FBM KLCI opened lower and slipped below the key 1,600 level this morning, despite the U.S. Federal Reserve’s widely expected interest rate cut. The FBM KLCI fell 11.86 points, or 0.74%, to 1,599.84 at 9.11 am, after opening 4.84 points lower at 1,606.86, dragged down by PETRONAS-linked counters. Among the losers, Nestle slid 84...
LONDON: British pay growth cooled in the three months to July to a more than two-year low and employment shot higher, according to data on Tuesday which is likely to keep the Bank of England on track to cut interest rates again before the end of the year. British average weekly earnings, excluding bonuses, were 5.1%...
KUALA LUMPUR: The ringgit maintained its upward trajectory against the US dollar today, in line with the local note’s broad-based appreciation against other major currencies, including the euro. At 6 pm, the ringgit surged to 4.3080/3140 against the greenback versus Wednesday’s close of 4.3425/3460. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the...
KUALA LUMPUR: The ringgit ended higher on Wednesday against the US dollar, consistently reaching fresh highs as traders saw an opportunity to accumulate the ringgit, with the anticipated US interest rate cut approaching, an economist said. At 6 pm, the ringgit advanced to 4.3460/3500 against the greenback versus Monday’s close of 4.3470/3505. Bank Muamalat Malaysia Bhd chief...
KUALA LUMPUR: The ringgit opened slightly higher today, extending its nine-day upward trajectory against the US dollar and lingering at an 11-month high. An analyst attributed this rise to the Federal Open Market Committee (FOMC) meeting yesterday, reinforcing investor expectations of a US interest rate cut in September. At 8 am, the ringgit marginally increased to 4.5875/5945...
