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Market Insights
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Latest News Headlines
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- The Reserve Bank of India lowered the overnight lending rate by 1.0% to 5.5%.
- Toyota has surpassed its previous record for annual sales in Canada and is poised to become the country's second largest automaker for the first time.
- Malaysian Rating Corporation (MARC) has revised downwards its 2009 GDP growth forecast for Malaysia from 3.5% to 2.5%.
- Deputy Prime Minister Datuk Seri Mohd Najib Razak said the Malaysian government intends to begin renegotiating specfic areas in the Power Purchase Agreements with Tenaga and the IPPs this year after talks ceased in Sep 08.
- Malaysia's Plantation Industries and Commodities Ministry believes that palm oil prices could be strengthened through supply management activities.
- Singapore’s economy expanded at 1.5% in 2008, the slowest pace in seven years, as exports fell and the number of tourists dropped amid the global financial crisis.
- Indonesia's economy grew by 6.2% in 2008.
- China's Central Bank Governor Zhou Xiaochuan has pledged a flexible and prudent monetary policy and greater efforts to develop the country's financial markets this year.
- Toyota is developing a vehicle that will be powered solely by solar energy.
- Bank Negara Malaysia expects prices to continue falling in 1H09 and the Consumer Price Index to decline to 3%.
- The Malaysian government may introduce more measures to boost consumer spending and shield the economy from the deepening global recession, said Prime Minister Abdullah Ahmad Badawi.
- Resorts World was recently named the World's Leading Casino Resort by the 2008 World Travel Awards.
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Market Review
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- The KLCI rose 0.17% led by Maybank (+0.15), BCHB (+0.15) and MISC (+0.10).
- The HSI fell 0.35%, led by China Mobile (-HKD2.00), China Construction Bank (-HKD0.20) and China Unicom
(-HKD0.58). - Asian Markets Close: KLCI 922.23 (+0.17%), HSI 15,509.51 (-0.35%), STI 1,913.66 (-0.58%) and Nikkei 9,080.84 (+0.42%).
- Toyota's Close: JPY 3050 (+40)
- U.S. Markets Close: Dow 8,952.89 (-0.91%), S&P 927.45 (-0.47%) and NSDQ 1,628.03 (-0.26%).
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