US' Dow Jones Industrial Average is down 120 points at 00:15 Malaysian time.
Manufacturing in the U.S. unexpectedly shrank the most in almost five years. The Institute for Supply Management's manufacturing index dropped to 47.7, the lowest reading since April 2003, from 50.8 the prior month. (Bloomberg)
So will US Federal Reserve cut interest rates again to stave off a recession? Expect heavy rate cut speculation in the coming week if more negative economic data emerges.
China's Hu Jintao has vowed "forceful measures" to curb rising food prices and address a booming real estate market that has seen property prices sky-rocket. He also vowed to help low-income families by providing them with better health care benefits and cheaper housing. (TIMEnet)
On the local front...
The Malaysian Health Minister quits to save the government from further embarrassment. Is there anything to lift the gloom when KLCI starts trading later?
The steel industry is expected to out-perform the market this month.
Manufacturing in the U.S. unexpectedly shrank the most in almost five years. The Institute for Supply Management's manufacturing index dropped to 47.7, the lowest reading since April 2003, from 50.8 the prior month. (Bloomberg)
So will US Federal Reserve cut interest rates again to stave off a recession? Expect heavy rate cut speculation in the coming week if more negative economic data emerges.
China's Hu Jintao has vowed "forceful measures" to curb rising food prices and address a booming real estate market that has seen property prices sky-rocket. He also vowed to help low-income families by providing them with better health care benefits and cheaper housing. (TIMEnet)
On the local front...
The Malaysian Health Minister quits to save the government from further embarrassment. Is there anything to lift the gloom when KLCI starts trading later?
The steel industry is expected to out-perform the market this month.
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