Published at 02:50 (GMT) 08 Oct
USD/MYR was lifted towards 3.2700 from sub-3.2600 levels in early Asia, tracking USD/JPY rebound and SGD/MYR demand. However prices are still contained within broader 3.2445-3.2747 band and only a higher break of stronger 3.2870 resistance to revitalise bulls. Meanwhile, overnight equity weakness prompted investors to sell off Asian stocks, including Malaysia's. KLCI fell to near seven-month lows of 1,824.52 and hovered thereabouts.
Bernama: Minister in the PM's Department Abdul Wahid Omar said in the lower house that the government would continue to implement pro-active measures to enable 28.7% or two million households in the country still earning less than MYR3,000 per month to enjoy better living condition. PM Najib who is also the Finance Minister is scheduled to table the Budget 2015 this Friday. Separately, the goods and services tax (GST) will boost the country's income which in turn will translate into additional public funds for infrastructure, services, education and health which will be for the people's benefits, said Royal Malaysian Customs, GST director Datuk Subromaniam Tholasy. He said based on the economic projection for 2015, revenue from the GST would significantly surpass the RM20 billion income from the existing sales and service tax (SST), as traders will no longer be able to avoid paying tax. BA
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