Oil prices fell in early trade on Tuesday ahead of a slew of economic data from China which should provide clues on the outlook for any recovery in demand in the world's top oil importer.
The safe-haven dollar stayed firm against major peers while the yuan sank to a nine-month trough after China's central bank unexpectedly cut key policy rates for a second time in three months on Tuesday to shore up the country's sputtering economy.
Most Asian stocks sank on Monday, with Chinese indexes leading losses on persistent concerns over slowing economic growth, while stronger U.S. inflation readings also pushed up fears of a more hawkish Federal Reserve.
Malaysia has secured RM5.2 billion worth of investment commitments in the digital economy sector from China and Singapore, Communications and Digital Minister Fahmi Fadzil said.
China’s economic recovery is being weighed down by a worsening property slump, with the latest data likely to show little sign of a rebound in growth.
Goldman Sachs Group Inc economists anticipate the Federal Reserve will start lowering interest rates by the end of next June, with a gradual, quarterly pace of reductions from that point.