MONEY MASTER

KUALA LUMPUR (Oct 8): The FBM KLCI declined 1.4 points or 0.08% after China's share drop hit world markets. Bursa Malaysia's construction index fell 19.53 points or 10.06%. At 5pm, the KLCI settled at 1,775.75 points after falling to its intraday low at 1,769.72 points. In China, the Shanghai Stock Exchange Composite closed 3.72% lower while Hong Kong's Hang Seng was down 1.39%. Elsewhere across Asia, South Korea's Kospi declined 0.6% while Japan markets were closed today for the Health-Sports Day holiday. Reuters reported that shares in Asia slumped Monday as China's markets stumbled in their first trading day after a one-week holiday even though Beijing's central bank increased liquidity to offset the impact of an escalating trade dispute with the United States. It was reported that The People's Bank of China (PBOC) on Sunday cut the level of cash that banks must hold as reserves, aimed at lowering financing costs as policymakers ...

KUALA LUMPUR (Oct 5): The FBM KLCI closed down 12.96 points or 0.72% today after local institutional investors took profit and as higher US government bond or Treasury yields at above 3% hit Asian financial markets. It was reported that US Treasury yields surged to a fresh seven-year high as strong US economic data led to anticipation of faster-than-expected interest rate rise there. At Bursa Malaysia, the KLCI settled at 1,777.15 points at 5pm after falling to its intraday low at 1,776.52 points. Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that "the negative market performance today could be due to profit-taking by local funds and increase in US bond yields". Across Bursa Malaysia, the biggest decliners included KLCI-linked stocks Nestle (M) Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Axiata Group Bhd and Hong Leong Financial Group Bhd. Asian stock markets slipped. Japan's Nikkei 225 dropped 0.8...

KUALA LUMPUR (Oct 4): The FBM KLCI closed down 6.19 points or 0.34% as higher US government bond or Treasury yields at above 3% hit Asian financial markets. At Bursa Malaysia, the KLCI closed at 1,790.11 points at 5pm. Across Asian stock markets, Japan's Nikkei 225 dropped 0.56%, South Korea's Kospi fell 1.52% while Hong Kong’s Hang Seng was down 1.73%. US Treasury yields rose after news reports quoted the US Federal Reserve Chairman Jerome Powell as saying that while US interest rates are still accommodative, interest rates there may go past the neutral level. US interest rate hike expectation also took cue from US economic data including the Institute for Supply Management's report, which showed services sector activity hit a 21-year high in September. In Malaysia, Rakuten Trade Sdn Bhd vice president Vincent Lau told theedgemarkets.com: “Investors are concerned about the bond yields. The 10-year Treasury yield has gone up and also the US Fe...