Malaysian share prices closed 0.26 percent lower Monday, in line with falls on regional markets after a weaker Wall Street performance Friday and amid continuing concerns over the Middle East crisis, dealers said. The Kuala Lumpur Composite Index shed 2.38 points to 922.43.
BONDS RISE: Malaysian government bond prices rose on Monday as investors bet the central bank would not raise interest rates this week. The central bank's monetary policy panel is due to meet on Friday. Bank Negara, the central bank, had raised the key overnight policy rate by a total of 80 basis points at meetings in November, February and April to rein in inflation.
The key rate stands at 3.50 percent. "With inflation not as high as earlier expected and US rates seen on hold for the time being, Bank Negara is likely to leave the OPR unchanged," said a trader with a local bank. The yield on the benchmark 5-year government bond was down 11 basis points at 4.38 percent. The 10-year government bond fetched a yield of 4.85 percent, down six basis points.
Comments
Comments are closed.