Treasury Daily CirculationMarket CommentaryExchange RatesTwin Currency Deposits Last Updated: Friday, 29 May 2015
 Some Stocks Indices
 Name  Value Change
 Dow Jones  Industrial Average 18,126.12  (- 36.87) 
 Strait Times  Industrial Index 3,417.77  (- 7.17) 
 Kuala Lumpur  Stock Exchange 1,755.56  (- 2.35) 
 Nikkei 225 20,577.59  (+ 26.13) 
 Crude & Gold Price
 Brent Crude Oil USD 63.10  (+ 0.52) 
 Gold Bullion USD 1,188.20  (+ 0.10) 
  FX REVIEW :

The yen fell to a 12-year low versus the US dollar as the Federal Reserve prepares to raise interest rates, sharpening the contrast with the Bank of Japanís unprecedented monetary stimulus. Japanís currency led declines among 16 major peers this week as signs of U.S. economy strengthening revived the greenbackís rally. The yenís 30 percent drop since 2012 is driving record profits at Japanís biggest companies, helping the nationís stocks toward their longest rally since 1988. BOJ Governor Haruhiko Kuroda repeated this week that heíll adjust monetary policy if needed to meet his inflation target.

  FX OUTLOOK:

ďThe dollar will appreciate relative to the yen because Japanese government policy is to depreciate the yen,Ē Daniel Fuss, vice chairman at Loomis Sayles & Co., said in an interview in Tokyo Wednesday. ďOnce itís government policy, you better pay attention.Ē

  STX REVIEW :

U.S. stocks rebounded from the worst drop in three weeks as technology shares rallied toward a record. Optimism that Greece has made progress with creditors boosted European shares to a one-month high, while the dollar extended a weeklong advance. The Nasdaq Composite Index closed at a record, after the biggest drop for U.S. stocks in three weeks, as technology shares rebounded and investors watched for progress in talks on Greece. Semiconductors rallied, while Apple Inc. gained 1.9 percent after dropping more than 2 percent Tuesday. Microsoft Corp. climbed 2.2 percent. Britainís equities slipped for a second time in three days. Miners led the losses, with BHP Billiton Ltd. and Anglo American Plc down more than 1 percent. Tate & Lyle Plc dropped 3.3 percent after saying 2016 pretax earnings will be similar to this yearís. Japanese shares rose a 10th day as the yen touched its lowest against the dollar since 2002 amid signs the Federal Reserve is preparing to raise interest rates. Hong Kong stocks suffered their biggest one-day decline since December, as panic in a slumping mainland market rippled across the border.

  STX OUTLOOK:

Asian stocks were mostly lower Thursday as a deadline for Greece to make a debt payment neared and Chinese shares dived after big gains in the past three months.

 
  DISCLAIMER:

This daily commentary and report is subject to change without notice. For the latest information, please call the Treasury Department: Ak Nizam (673) 226 8305, Siew Yong (673) 226 8306 or Chiao Min (673) 226 8307.

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