Stocks recover some ground after global sell-off; currencies up

Quick Summary:

EMERGING Asian stocks gained some ground on Thursday after a steep sell-off in the previous session, as traders raised their bets of an outsized rate cut by the Federal Reserve on lingering concerns over the growth outlook in the United States.

On Thursday, the Malaysian ringgit and the Indonesian rupiah gained around 0.5% each, while the Thai baht added 0.6% to touch its highest level in seven weeks.

Bank Negara Malaysia (BNM) is expected to hold its benchmark policy rate at 3.00% in a meeting later in the day, a Reuters poll showed.

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Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanPhilippinesTaiwanUnited States

Topics: MSCI /Business/Business News Federal Reserve Bank Negara Markets Asian

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 14:20:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 546 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22372715

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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