Mohamed Rafique Merican, CFO of Maybank Group, says factors such as weaker commodity prices and the implementation of the goods and services tax will weigh on loan growth this year.» Read More
Asian markets pared back losses, but were still closed in the red Thursday. Oil set fresh record highs and fears that stagflation will continue to hurt earnings and consumer spending dogged investors.
The sodomy allegation confronting Anwar Ibrahim could end up helping him more than hurting him in his drive to lead Malaysia's opposition to power for the first time in history.
Most Asian markets stayed firmly in negative territory Wednesday, led by Seoul's 2.5 percent slide as persistently high oil prices and their impact on economies remained the key theme keeping investors worried.
Opinion polls showed most people believed Malaysian opposition leader Anwar Ibrahim did not commit sodomy against a young aide after a similar charge landed him in jail for six years before it was overturned.
Asian markets were weaker Tuesday as investors continued to fret about the economic impact of high oil prices. Japan, South Korea and Australia all finished lower.
Malaysian opposition leader Anwar Ibrahim, accused of homosexual assault, is lodging a police report on Tuesday claiming the police chief and attorney-general fabricated evidence against him in a similar case a decade ago.
Asian markets were mostly lower Monday, with Japan and Australia both closing down. Skyrocketing oil prices remained the key theme as investors worried over the impact of record oil prices on the health of the global economy.
Malaysia may revise its 2008 budget deficit target of 3.1 percent, Second Finance Minister Nor Mohamed Yakcop said on Monday, days after the government announced plans to increase spending.
Malaysia's de facto opposition leader Anwar Ibrahim took refuge at the Turkish embassy on Sunday due to fears he could be assassinated after fresh accusations of sodomy.
Asia experienced a selloff across the board, led by Shanghai's 5 percent tumble, after shares plunged on Wall Street and oil prices shot above $140 a barrel, fanning investors' fears of high inflation and slowing economic growth. Japan and South Korea finished 2% lower.
Asian markets were mostly flat Thursday after the U.S. Federal Reserve kept rates steady while the euro hit a record high against the yen on the prospects for a euro zone rate rise.
Malaysia shelved some large building projects on Thursday and pledged to spend $9 billion more to boost rice production and ease poverty, as the government sought to quell growing public anger over rising prices.
Asian markets pared back losses Wednesday, with Tokyo closing just slightly lower. Concerns about the U.S. economy cast a cloud over the session and trade remained cautious as investors awaited the outcome of the Fed's two-day meeting, which is expected to leave interest rates at 2%.
Asian markets drifted to a mixed close Tuesday, with trade kept largely muted as investors stayed cautious ahead of the U.S. Federal Reserve's rate decision at the its two-day policy meeting starting later today. Japan and Australia closed flat.
Asian markets closed in the red Monday, but were well off their session lows as investors took the opportunity to buy beaten down stocks.
Asian markets were mixed Friday as regional stocks reacted to China's hiking of fuel prices. Trading has been volatile throughout the session with markets, particularly in Shanghai, making radical swings between positive and negative territory.
Asian stocks took a beating Thursday, after Wall Street closed at a three-month low, sparking fears of a pullback in export demand with oil prices remaining high and feeding a rally in safe-haven government bond prices. Japan shed 2.2 percent while Australia gave up 1.4 percent.
Asian markets staged a late rally Wednesday with Japan and South Korea closing in the black, as oil dipped for the fourth straight session, signaling lower costs for firms following a plan by top exporter Saudi Arabia to raise crude output.
Asian markets ended mixed Tuesday with the weaker U.S. dollar pushing exporters such as Canon to a weaker finish. But financial shares moved higher, helping to offsetting losses.
Asian markets rallied Monday after muted U.S. consumer price data and softer oil prices helped ease concerns about inflation and higher interest rates in the world's top economy. Japan closed 2.7% higher.