business
Malaysia trims losses after Bank Negara holds rate
Bank Negara Malaysia has maintained its key interest rate at 3.25% as expected. – The Malaysian Insider file pic, March 9, 2016.Southeast Asian stock markets were mixed on Wednesday, with Malaysia trimming most early losses after the central bank maintained its policy rate as expected while stocks in Thailand gained more than 1% on
foreign buying.
Kuala Lumpur's composite index ended 0.09% lower, with foreign investors buying shares for a ninth straight day.
Malaysia's central bank maintained its key interest rate at 3.25% on Wednesday as expected, and kept unchanged a reserve requirement ratio that it cut in January.
The Thai SET index climbed 1.2% as energy shares such as PTT Global Chemical and IRPC rose in line with oil prices.
Foreign investors bought Malaysian and Thai shares worth a net RM147 million and 494 million baht (RM57.60 million), respectively, stock exchange and Thomson Reuters data showed.
Singapore rebounded 1.1% after two days of losses while Vietnam fell for a second day, with banks leading the decliners. Indonesia was closed for a public holiday, reopening on Thursday. – Reuters, March 9, 2016.
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