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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Bank Negara reserves decline to RM356b

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves fell RM8.3bil to RM356.4bil (US$94.5bil) over the past two weeks until Aug 14. BNM said on Thursday the international reserves as at Aug 14 was sufficient to finance 7.5 months of retained imports and it was 1.0 time the short-term external debt. The reserves had declined by RM8.3bil from the RM364.7bil (US$96.7bil) as at July 31, 2015. The reserves position then was sufficient to finance 7.6 months of retained imports and was 1.1 times the short-term external debt. The above news was taken from Bank Negara reserves decline to RM356B from The Star. The bad news is the reserves are still dropping, but at slower rate; although the Malaysian Ringgit continue to dive until 4.19 against the US Dollar before gaining back and close at 4.17 for the weekends. The slower rate of the reserves drop would most likely because there is no longer intervention by the Bank Negara against the Malaysian Ringgit devaluation ...
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BNM International Reserves shrunk below US$100 billion

The Ringgit weakened against the USD and this trend seems to continue and show no sign of slowing down. USD against MYR currency A quick search on google will show you this and it's scary because the spike doesn't seem to slow down and there's no sign of it any time soon.  And to make matters worse, the BNM International Reserve as of July 2015 has shrunk below US$100 billion.  BNM International Reserves shrunk below US$100 billion To put into perspective, this is the first time that the reserve has fall below this level since August 2010.  The central bank gave a statement today and said the reserves' position is sufficient to finance 7.6 months of retained imports and is 1.1 times the short-term external debt.  The concern on the Ringgit currency is real as it has depreciated for 8 consecutive days.  The local currency slipped further today to 3.9265 against the US dollar — the lowest level in 17 years — compared with Thursday...
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MYR to Other Major Currencies Exchange Rate

Currency exchange rate is also one something that we should always look up on to gauge whether import goods from certain countries is getting cheaper or getting more expensive. Another reason for monitoring the currency exchange rate is so that we can know whether the economy in a country is getting better or worse, although nowadays currency exchange rate has slowly become speculative rather than fundamental. As Malaysian, I am always curious how the country currency perform against some major nations like the United States. Malaysian Ringgit Exchange Rate Currency Exchange Rate
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