Mohshin Aziz, Aviation Analyst at Maybank Investment Bank, hopes that Malaysia Airlines can provide details on its staff and capacity reduction at the announcement of restructuring plans late Friday.» Read More
Asian markets rebounded but were off their highs Thursday, boosted by Wall Street's rally Wednesday and a decline in oil prices, providing some relief from fears about the global credit crisis spiraling out of control. Japan closed 1% higher.
Malaysian opposition figure Anwar Ibrahim has been freed on police bail, his lawyers said , but Anwar could still be charged for sodomy at a later date. As a condition of the bail, Anwar has to report to police on Aug. 18 unless the authorities decide otherwise.
Asian markets seesawed Wednesday with investors uncertain about global growth prospects, the state of the financial sector and volatile oil prices. Japan finished flat, South Korea fell but Australia gained over 1%.
Malaysian opposition leader Anwar Ibrahim has been arrested by police, his lawyer said. Anwar had agreed to meet authorities later Wednesday on a sodomy complaint lodged by a former aide. Police had warned they would arrest him if he did not show up.
Asian markets tumbled Tuesday with Japan and Australia losing 2% and South Korea tumbling 3%. Investor confidence waned in the region's financial sector, which faces high inflation, a stricter lending environment and massive volatility from overseas markets.
Asian markets were mostly weaker Monday after Washington unveiled an emergency plan to rescue the top U.S. mortgage finance companies, offering to buy shares if necessary. Japan and South Korea both closed slightly lower.
Malaysian police vowed to crack down on an opposition-led rally on Monday, seeking to subdue growing dissent, as opposition figure Anwar Ibrahim prepared to meet police over sodomy accusations against him.
Most Asian markets made a sharp turn into positive territory after the New York Times reported that the U.S. government is considering taking over the two top U.S. mortgage finance companies.
Asian stocks were mixed Thursday with South Korea finishing over 1% higher in a volatile session which saw markets seesawing between negative and positive territory.
Malaysian Prime Minister Abdullah Ahmad Badawi will announce plans to retire in June 2010, a move aimed at ending months of political uncertainty that have unnerved investors, a news website said on Thursday.
Asian markets pared back gains Wednesday, on news that Iran has test-fired missiles. The report, which came in the afternoon, prompted many investors to lock in profits, sending South Korea down almost 1% and taking back most of the Nikkei's earlier gains.
Malaysian annual inflation in June probably exceeded 6.0 percent, the central bank chief said on Wednesday, breaching a mark not seen in 26 years and reinforcing expectations of an interest rate hike.
Asian markets took a beating Tuesday, weighed by the financial sector after sharp declines in shares of Fannie Mae and Freddie Mac in the U.S. on funding concerns reminded investors about the fragility of global credit markets.
Asian markets ended mixed Monday, with Sydney down 1.6 percent while Shanghai jumped 4.6 percent. However, sentiment remained weak after credit concerns pushed European indexes lower. The market lacked direction overall as investors waited for the U.S. to reopen after the Independence Day long holiday weekend.
Asian markets painted a mixed picture Friday, with exporters moving higher on a stronger U.S. dollar while record high oil prices weighed on oil distributors and airliners. Trade was cautious with U.S. markets closed for the Independence Day holiday.
Malaysian exports in May jumped 22 percent from a year earlier to a record high, far exceeding market expectations, thanks to high shipments of crude, palm oil and electronics.
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.