Currency markets showed some cautious optimism after global authorities moved to stem contagion from a simmering banking crisis, with the safe haven dollar on the back foot and the yen tumbling amid a rebound in Treasury yields.
The Malaysian capital market remained robust and orderly amidst weaker global financial markets and uncertain geopolitical conflicts, said Securities Commission Malaysia (SC) Corporate Finance and Investments executive director Datuk Zain Azhari Mazlan.
Global central bankers on Thursday rolled out what appears to be an emerging effort to firewall the rate increases needed to fight inflation from separate efforts to calm fears about financial stability.
Japan's government is closely coordinating with the Bank of Japan and financial authorities overseas to prevent fallout from the crisis of confidence engulfing banks in the West, Finance Minister Shunichi Suzuki said on Friday.
Asian policymakers and regulators sought to reassure investors on Thursday about the resilience of their banking systems and played down contagion risks after a crisis of confidence in the global banking sector triggered a market sell-off.
