Phillip Futures derivatives specialist, David Ng, said the CPO price plunged to its lowest in five years over mounting concerns over weak exports and high production for the month coupled with weak sentiment in the soy bean market.
KUALA LUMPUR: The Malaysian rubber market closed higher yesterday for the third day, tracking the perfomance on the Tokyo Commodity Exchange (TOCOM), a dealer said.
KUALA LUMPUR: The ringgit closed sharply higher against the US dollar yesterday on renewed buying interest for the local unit.
KUALA LUMPUR: The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts closed unchanged yesterday.
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed lower by US$150 to US$22,250 a tonne yesterday due to lack of buyers, a dealer said.
KUALA LUMPUR: Gold futures contracts closed lower yesterday on lack of demand, a dealer said.
NEW YORK: US crude oil futures fell yesterday and were on track for a fifth straight week of declines, while Brent remained under pressure on a strong dollar and plentiful supplies.
TAIPEI: The head of Japan Exchange Group Inc (JPX) said on Friday that he favours longer trading hours for the exchange and a decision on the long-debated issue will be made this year.
LONDON: London-based RSA Insurance Group plc said it reached an agreement to sell its insurance business in Singapore and Hong Kong to Allied World Assurance Co Ltd for £130 million (RM681 million) in cash.
PT Bumi Resources, Asia’s most-indebted coal miner, averted a default yesterday in a show of confidence in the region’s distressed bonds.
BANGALORE: Apparel retailer Gap Inc raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging markets.
FRAUDSTERS are targeting JPMorgan Chase & Co customers in an email “phishing” campaign that is unusual because it attempts to collect credentials for the bank and also infect personal computers (PCs) with a virus that steals passwords from other institutions.
NEW YORK: Family Dollar Stores Inc rejected a US$9 billion (RM28.44 billion) buyout offer from Dollar General Corp that it said could run foul of competition law, opting instead for a smaller bid from Dollar Tree Inc that guarantees a job for its chief executive officer.
LONDON: The London Stock Exchange Group’s (LSEG) net profits surged by nearly 50 per cent in the first quarter on the back of a resur-gence in stock market flotations, it said yesterday.
FOLLOW-through rebounds dictated the overall market sentiment with the FTSE Bursa Malaysia KLCI (FBM KLCI) closing at 1,870.99 points yesterday.
PUBLICINVEST Research has assigned a “neutral” rating on Petra Energy Bhd with a RM2.87 target price until further awards and developments materialise.
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