<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 28): Ringgit trades in a narrow range as trading volumes thin ahead of the year-end holiday.</p></div>

<div class=newsTextDataWrapInner><p>* USD/MYR drops 0.1% to 4.0813 vs range of 4.0793-4.0817</p></div>

<div class=newsTextDataWrapInner><p>** Support 4.0360, 4.0000, 3.9300; resistance 4.1518, 4.1990, 4.2440</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>* Lower UST yields and higher energy prices bode well for ringgit although thin holiday trading will weigh on sentiment for now, Stephen Innes, head of trading for Asia Pacific at Oanda, writes in note</p></div>

<div class=newsTextDataWrapInner><p>* Ringgit will be supported by higher crude oil prices but gains will be more measured from here, says Sim Moh Siong, currency strategist at Bank of Singapore</p></div>

<div class=newsTextDataWrapInner><p>** “Countries do not want their currencies to strengthen excessively as that will undermine competitiveness”</p></div>

<div class=newsTextDataWrapInner><p>* Ringgit may strengthen past 4 per dollar next year as it remains cheap and BNM is likely to be the first Asean economy to tighten policy: Bank of Tokyo-Mitsubishi UFJ</p></div>

<div class=newsTextDataWrapInner><p>* State fund 1MDB has paid Abu Dhabi’s sovereign wealth fund the remainder of an arbitration settlement ahead of a year-end deadline: stock exchange filing</p></div>

<div class=newsTextDataWrapInner><p>** 1MDB is at the center of a scandal involving alleged money laundering which has weighed on sentiment toward Malaysian assets</p></div>

KUALA LUMPUR (Dec 28): Ringgit trades in a narrow range as trading volumes thin ahead of the year-end holiday.

* USD/MYR drops 0.1% to 4.0813 vs range of 4.0793-4.0817

** Support 4.0360, 4.0000, 3.9300; resistance 4.1518, 4.1990, 4.2440

* Lower UST yields and higher ...

Ringgit hemmed in tight range as year-end nears

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Tesla Inc shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.

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Federal Reserve (Fed) vice chair Philip Jefferson said he expects inflation to continue to moderate, with interest rates at their current level, but persistent price pressures would warrant holding borrowing costs high for longer.

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US industrial production rose for a second month in March, boosted by a larger-than-expected increase in factory output, as manufacturing showed further signs of stabilising.

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NEW YORK/BENGALURU (April 16): Johnson & Johnson's (J&J) first quarter revenue missed Wall Street estimates on Tuesday, with sales of its blockbuster psoriasis drug Stelara coming in lower than expected, as the company prepares for its loss of exclusivity in the US.

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KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) has appointed Sikh Shamsul Ibrahim Sikh Abdul Majid as its new chief executive officer (CEO), effective April 18, 2024.

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<p>The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.</p>


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<p>Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.</p>


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<p>Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;</p>


Bursa ends morning session lower along with regional peers

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&nbsp;<br />
Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut. &nbsp;</p>


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<p>EP Manufacturing Bhd's (EPMB) shares climbed on Tuesday and marked their best day in 10 months after the Shah-Alam based auto parts maker signed an assembly deal with a Chinese carmaker.</p>


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<p>Workers in Singapore can now ask for four-day work weeks, more work-from-home days and staggered work timings starting from Dec 1, underscoring the global trend of governments and companies relaxing office arrangements in order to retain talent.</p>


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<p>The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


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<p>Bursa Malaysia ended lower for the second consecutive day on Tuesday, tracking the weak global sentiment due to the Middle East conflict, said an analyst. &nbsp;</p>


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<p>The London-based lender cut around a dozen bankers across its investment banking division in Asia on Tuesday, one of the people said, asking not to be identified discussing a private matter.&nbsp;</p>
