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At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.12 points, or 0.37 per cent to 1,393.45 from 1,388.33 at yesterday’s close. — Bernama pic

Money / 21 Jun 2023

Bursa Malaysia ends firmer on bargain hunting, bucks regional trend

Money / 21 Jun 2023

FTLife swept four awards at the Bloomberg Businessweek / Chinese Edition Financial Institution Awards 2023

Money / 21 Jun 2023

Boost Your Wellbeing at the New 7CAFÉ+VERSUS Pop-up Store in Central Market Introducing Exclusive Specialty Coffee, Coconut Water Specialty Drinks, Freshly Made Smoothies and The First Limited Edition 7-Eleven x VERSUS Sport Socks

Earlier, the central bank conducted a conventional money market tender, one commodity Murabahah programme and two reverse repo tenders. ― Picture by Yusof Mat Isa

Money / 21 Jun 2023

Short-term interbank rates close steady on Bank Negara operations

Money / 21 Jun 2023

HONMA Golf Announces Annual Results for FY2022/23 Results Remained Resilient and Cash Flow Strong

China’s yuan weakened to a seven-month low against the dollar, a day after a smaller-than-expected rate cut from the country’s central bank disappointed investors . — Reuters pic

Money / 21 Jun 2023

Stocks fall on lack of major China stimulus, focus on Powell testimony

Transgrid, privatised in 2015, will invest in batteries and other energy storage, as well as 2,500 kilometres (1,553.4 miles) of new transmission lines across an area larger than Texas for ‘secure operation’ of the grid at up to 100 per cent instantaneous renewables. — India approves wheat, broken rice exports requests from 4 countriesSOURCE:REUTERSRepeats story no changes to textMUMBAI, June 20 (Reuters) — India has decided to approve wheat and broken rice exports to few selected countries following their requests to allow the shipments of the grains, the government said in two separate notifications issued late on Tuesday.The South Asian country banned exports of wheat and broken rice in 2022 to lower local prices.But following requests, India would allow broken rice exports to Indonesia, Senegal and Gambia in 2023/24 financial year started on April 1.New Delhi also approved request from Nepal and allowed wheat exports in the current financial year.Indian exporters, which were exporting grains to these countries, need to bid for the allocated quota of wheat and broken rice, the government said in notifications.Indonesia has signed an agreement with the Indian government to potentially import 1 million tonnes of rice if the El Nino weather pattern hits domestic supply, media quoted the trade minister as saying on Friday.(Reporting by Rajendra Jadhav; Editing by Aurora Ellis)Yuan falters, dollar firm ahead of Powell testimonySOURCE:REUTERSDollar drifts higherTraders await UK CPI and Powell testimony By Tom WestbrookSINGAPORE, June 21 (Reuters) — The dollar was firmer on Wednesday leading in to Federal Reserve Chair Jerome Powell’s appearance at Congress where he is expected to strike a hawkish tone, while sterling lingered below recent peaks ahead of key inflation data.British inflation data is due at 0600 GMT, Bank of Japan Governor Kazuo Ueda is due to speak at 0630 GMT and Powell is due to begin his testimony before Congress at 1400 GMT.Sterling <GBP=D3> fell overnight but recovered about half its losses to trade steady at US$1.2763 through the Asia session, not far below last week’s 14-month high of US$1.2849.Economists expect inflation to show signs of easing and the data is likely to be decisive for the Bank of England. It meets on Thursday with markets currently pricing about a 75 per cent chance of a 25 basis point hike and a 25 per cent chance of a 50 basis point hike. <0#BOEWATCH>“Sterling may halt the current reversal (if) expectations are reshaped, with the pair potentially jumping back above US$1.28 and re-testing last week’s resistance at US$1.2847,” said Daniela Hathorn, analyst at Capital.com.The euro was held to US$1.0914 in Asia trade, while the yen slipped slightly to 141.80 per dollar as Bank of Japan minutes and officials stuck to a dovish stance and as traders turned their focus to the Fed.“Despite having paused last week, the Fed officials ... still surprisingly aggressively forecasted another 50 basis points in hikes by end 2023,” said currency analysts at Maybank.“It is crucial to see whether (Powell) would more strongly drive home the point that the Fed is serious about another 50 bps of hikes or give the impression that they are ‘data dependent’,” they said. “The former may do more to give additional support to send the dollar index and yields higher.”Elsewhere there was little appetite for a bounce from either the yuan or the Australian dollar, which have been battered by China’s stalled economic recovery and lack of major stimulus.China set its yuan midpoint weaker than expected on Wednesday and the currency <CNY=CFXS> slid to a new seven-month trough of 7.1987 in onshore trade, while the offshore yuan <CNH=D3> weakened past 7.2 to the dollar.The Aussie <AUD=D3> had taken a further beating thanks to Tuesday’s less-hawkish-than-expected central bank minutes following this month’s rate hike. It fell 0.9 per cent overnight and last bought US$0.6786.“The path of least resistance is further declines,” said Commonwealth Bank of Australia strategist Joe Capurso.“The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish,” he said. Powell is due to begin his testimony at 1400 GMT.The New Zealand dollar <NZD=D3> was dragged lower in sympathy, breaking below its 50-day moving average before steadying just above its 200-day moving average at US$0.6178.The US dollar index <=USD> was marginally firmer at 102.60. Bitcoin <BTC=BTSP> extended overnight gains to breachUS$29,000 for the first time since late May, helped by the launch of a new crypto exchange backed by Fidelity, Citadel Securities and Charles Schwab. — Reuters pic

Money / 21 Jun 2023

Transgrid to invest US$11b to ready Australian state for 100pc renewables

Sterling was last flat against the dollar GBP=D3 at US$1.2763, having traded at US$1.2764 before the data. — Reuters pic

Money / 21 Jun 2023

Pound sterling seesaws after inflation data

Markets have their doubts and currently imply around a 78 per cent chance of a hike to 5.25-5.5 per cent next month, with that likely being the end of the entire tightening cycle. — AFP pic

Money / 21 Jun 2023

Asia wary in case Fed Reserve chair Powell embraces his inner hawk

Money / 21 Jun 2023

Let the World Hear the Voice of the Asian Games, the "Asian Games Letterbox" concluded with great success in its first stop Hong Kong

Money / 21 Jun 2023

Amazon Prime Day Returns on 11 and 12 July with Thousands of Real Deals and Exclusive Launches in Singapore

Money / 21 Jun 2023

Trend Micro Ranked #1 in Worldwide Cloud Workload Security Market Share for 5th Consecutive Year

On the broader market, decliners outpaced gainers 333 to 257 while 355 counters were unchanged, 1,350 untraded, and 18 others suspended. — Bernama pic

Money / 21 Jun 2023

Bursa Malaysia turns mixed at mid-morning

South Korean President Yoon Suk Yeol (left), his wife Kim Keon-hee (second from left), French President Emmanuel Macron (right) and his wife Brigitte Macron (second from right) pose during a working lunch meeting at the Elysee Palace in Paris June 20, 2023. — AFP pic

Money / 21 Jun 2023

President Yoon asks French President Macron to help ensure EU trade laws do not harm South Korean businesses

Money / 21 Jun 2023

Media intelligence firm CARMA continues Asia expansion with Indonesia launch

Money / 21 Jun 2023

News

No condo? No problem: Malaysians turn old flats into Instagram-worthy homes

Israel strikes Tehran’s Evin prison in largest attack yet; Iran warns US but holds fire — for now

Simplified: Why SIS won its Selangor fatwa challenge at Federal Court in 3-1 ruling

Savour Penang white curry mee, salted butter ‘kopi’ and an excellent dry chicken curry ‘wantan mee’ at Kopitiam Home Delight in Bandar Teknologi Kajang

‘Hard times reveal true friends’: Singapore thanks Malaysia for evacuating citizen from troubled Iran

Anwar says KL’s future is public transport, not private cars, as 2040 blueprint unveiled

Court of Appeal orders govt to compensate firm for 50 years of Duta Enclave land use

Trump announces Iran-Israel ceasefire deal after 12 days of deadly strikes

Selangor Mufti defends fatwa against liberalism, says SIS court win doesn’t affect individual Muslims

Inside the cockpit of the B-2 stealth bomber: 40-hour missions, turkey sandwiches and blind refueling at 50,000 feet

Bikers’ reckless ride on second Penang bridge caught on camera, police launch probe

Iran hits back after US joins Israeli campaign, missiles target key American base in Qatar

Airlines scramble as Iran’s missile strike on US base triggers Gulf airspace shutdown

MIC’s Murugiah hurt in car crash on NSE

Armed forces make history with promotion of first Malaysian Chinese three-star general

Bursa Malaysia ends firmer on bargain hunting, bucks regional trend

FTLife swept four awards at the Bloomberg Businessweek / Chinese Edition Financial Institution Awards 2023

Boost Your Wellbeing at the New 7CAFÉ+VERSUS Pop-up Store in Central Market Introducing Exclusive Specialty Coffee, Coconut Water Specialty Drinks, Freshly Made Smoothies and The First Limited Edition 7-Eleven x VERSUS Sport Socks

Short-term interbank rates close steady on Bank Negara operations

HONMA Golf Announces Annual Results for FY2022/23 Results Remained Resilient and Cash Flow Strong

Stocks fall on lack of major China stimulus, focus on Powell testimony

Transgrid to invest US$11b to ready Australian state for 100pc renewables

Pound sterling seesaws after inflation data

Asia wary in case Fed Reserve chair Powell embraces his inner hawk

Let the World Hear the Voice of the Asian Games, the "Asian Games Letterbox" concluded with great success in its first stop Hong Kong

Amazon Prime Day Returns on 11 and 12 July with Thousands of Real Deals and Exclusive Launches in Singapore

Trend Micro Ranked #1 in Worldwide Cloud Workload Security Market Share for 5th Consecutive Year

Bursa Malaysia turns mixed at mid-morning

President Yoon asks French President Macron to help ensure EU trade laws do not harm South Korean businesses

Media intelligence firm CARMA continues Asia expansion with Indonesia launch

TCL Introduces Innovative Refrigerators and Washing Machine to Audiences in the Philippines