Asian markets lower on poorer Wall Street performance

PETALING JAYA: The benchmark index halted a two-day winning streak by opening lower Wednesday. At 10am, the Kuala Lumpur Composite Index (KLCI) was down 5.2 points, or 0.6%, at 913 points. Losers led gainers 40 to 191, while 115 counters were unchanged. Some 58.6 million shares changed hands, worth over RM99.4mil. Regional bourses were also trading weaker Wednesday in line with the poorer performance on Wall Street Tuesday. Nikkei 225 dropped 2.8%, Kospi fell 1.5%, Hang Seng Index declined 1.1% while Singapore Straits Times Index was down by 2%....

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Asian markets rally, KLCI up nearly 19pts

KUALA LUMPUR: Asian markets rallied in early trade on Tuesday, as investors rushed back into equities, spurred by massive gains on Wall Street following the massive rescue plan for the European and US financial institutions. At 9.30am, the KL Composite Index was up 18.58 points or 1.95% to 969.34. Turnover was 136.7 million shares valued at RM222.4mil. There were 327 gainers, 38 losers while 86 counters were unchanged. Japan’s Nikkei 225 led the rally, surging 13.08% or 1,082 points to 9,359.08, Singapore’s Straits Times Index jumped 6.29% to 2,206.98...

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Oil rebounds in Asia Monday on Europe bank rescue plan

SINGAPORE: Oil prices rebounded from a 13-month low to rise above US$80 a barrel Monday in Asia on expectations that a pledge by European countries to keep banks from collapsing may stabilize a tumultuous global financial system. Light, sweet crude for November delivery was up US$2.76 to US$80.46 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract fell Friday $8.89 to $77.70, the lowest price since Sept. 10, 2007. "The turnaround in oil today is due primarily to the European bank rescue plan,''...

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Asian markets fall on US economy worries

KUALA LUMPUR: Asian markets started the new week on a weak note on Monday, with the local bourse also slightly lower in cautious trade as investors worried about the deteriorating fundamentals of the world’s largest economy despite the Congress approval for the US$700bil bailout. At 9.30am, the KL Composite Index was down 3.19 points to 1,013.51. Turnover was 28.99 million shares valued at RM55.28mil. There were 54 gainers, 112 losers and 80 counters unchanged. Asian markets fell with Shanghai’s A Share Index opening, after a week-long break, to...

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Rejection of US bailout proposal hits world stock markets

PETALING JAYA: For those who predicted that the era of American dominance in the economic and political spheres was waning with the rise of China and India, the stream of bad news from Wall Street and its negative impact on major markets must surely come as a reality check. It has put to rest ideas about decoupling — that emerging markets won’t be affected by a downturn in the United States. The ideas were bandied about by analysts and economists until the first half of the year when it became obvious a combination of US financial woes and high...

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