Friday 29 Mar 2024
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KUALA LUMPUR (Sept 26): Ringgit trades near the weakest in 10 months as global funds sell Malaysian stocks and traders await a Federal Reserve policy decision to gauge the dollar’s outlook.

* USD/MYR little changed at 4.1378 after rising to 4.1535 on Sept. 12, highest since November

** Support 4.0968, 4.0900, 4.0413; resistance 4.1535, 4.1645, 4.2437

* Overseas investors sold $2.6m of Malaysian equities Sept. 24, taking outflows this quarter to $476m

* READ: Global emerging-market funds shun Asia even as bargains arise

* MYR is likely to outperform Southeast Asian FX as rising oil prices will boost Malaysia’s export earnings and govt revenue, says Trinh Nguyen, a senior economist at Natixis Asia in Hong Kong

** Higher crude prices will provide a buffer for the economy and allow BNM to remain on hold for rest of the year 

* 10-year govt bond yield rose 2bps Tuesday to 4.11%

* Govt to auction RM3b of 2022 Islamic bonds on Thursday

* Rosmah Mansor, wife of former PM Najib Razak, will give a statement to anti-graft officials on Wednesday, Malaysian Anti- Corruption Commission said 

* Assets recovered as part of probe into 1MDB will be held in consolidated fund before being channeled to relevant trust accounts once it’s clear they were from the state fund, Finance Minister Lim Guan Eng said Tuesday

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