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Sovereign Wealth Funds Briefing - Categorized | Market

Markets cautiously ‘optimistic’ on 1MDB’s China sale

Posted on 27 November 2015

The market reaction on scandal-ridden 1MDB selling its power assets, Edra Global Energy, to a state-owned Chinese company has been good, said the BBC in a report. The report said that it remains to be seen whether research houses can now finally continue to upgrade their forecasts for the Kuala Lumpur Stock Exchange, stuck in the doldrums for so long following the 1MDB scandal and a combination of other negative news and events.
For the moment at least, noted the report, the ringgit for one is bucking the trend and moving up against the US dollar while the rupiah and baht continue their downward slide. The ringgit has already fallen 18 per cent against the USD, a slight improvement from the 25 per cent at the lowest so far………………………………………..Full Article: Source


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