Some market updates:
USD/MYR opened lower this morning, strong support tipped at 3.1000 and resistance at 3.1150 levels
The US market was closed for Labor Day yesterday.
European leaders are stepping up shuttle diplomacy this week as they brace for their central banker’s plan to defend the euro from a bond-market turmoil
The European Union’s outlook was cut to negative by Moody’s, reflecting the risks to Germany, France, the UK and the Netherlands that account for about 45% of the group’s budget revenue
PMI manufacturing in developed Europe were largely disappointing (except for UK), with the overall EC PMI mfg reading at 45.1 (expectation 45.3)
Most Asian stocks declined as European Union’s outlook was cut by Moody’s ahead of meeting of the region’s policy makers today
KLCI closed on a mixed tone despite returning back above the 1650 mark on Monday, as renewed concerns over a China hard-landing scenario seemed to have dampened the sentiment buoyed by Fed Bernanke’s comments last week
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