
CGTN: China and CELAC usher in new chapter of South-South cooperation
BEIJING, May 14 (Bernama) -- Located in San Salvador, the National Library of El Salvador – a China-aided mega project – has become a modern cultural landmark in the capital city since its inauguration in late 2023.
Spanning 24,000 square meters, the library is open 24/7 and holds over 360,000 volumes. It serves multiple functions, including youth education, art exhibitions, cultural performances, and academic conferences.
The library is among more than 200 infrastructure projects China has supported in Latin American and the Caribbean (LAC) countries in recent years, which Chinese President Xi Jinping noted during his address at the opening ceremony of the fourth ministerial meeting of the China-CELAC (Community of Latin American and Caribbean States) Forum in Beijing on Tuesday.
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New Straits Times
23 minutes ago
- New Straits Times
Bursa Malaysia opens choppy as caution over US-China talks lingers
KUALA LUMPUR: Bursa Malaysia opened to choppy trading, tracking Wall Street's mixed performance amid ongoing caution over the outcome of US-China trade talks. At 9.40am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged down 0.20 of a point or 0.01 per cent to 1,519.21 from Monday's close of 1,519.41. The benchmark index opened marginally higher by 0.30 of a point at 1,519.71. The broader market was slightly positive, with gainers led losers 241 to 236, while 321 counters were unchanged, 1,560 untraded and 21 suspended. Turnover stood at 530 million units, valued at RM245.87 million. Rakuten Trade Sdn Bhd said the FBM KLCI managed toclimb higher on Monday following a stop-start session as foreign selling still persists. The firm said the local bourse has endured of more than RM11 billion of net foreign outflows year-to-day as most are diverting their attention to the more robust Hong Kong market. "No thanks to Trump's flip-flop tariff policy, consensus have downgraded overall earnings by corporate Malaysia namely the banks hence the lackluster interests on the local equities. "For today, we anticipate the index to trend within the 1,515-1,525 range," it added. Rakuten said Wall Street ended flat with little changes to all three major indices. It said that traders were mostly side-lined while waiting for the outcome from the discussion between China and the US. Amid the prevailing uncertainty, the US 10-year yield slipped to 4.476 per cent. Meanwhile in Hong Kong, the Hang Seng Index reversed last Friday's losses to close above the 24,000 mark as sentiment was boosted by China's May consumer price index though still weak, it is better than expected and could be a prelude for more easing policies from China going forward.

Malay Mail
36 minutes ago
- Malay Mail
Ringgit edges up as US-China talks proceed, traders remain wary
KUALA LUMPUR, June 10 — The ringgit opened slightly higher against the US dollar on Tuesday amid caution about the outcome of trade talks between China and the United States. At 8 am, the local note made a small rebound to 4.2275/2370 against the greenback compared to Monday's close of 4.2290/2345. Bank Muamalat Malaysia Bhd's chief economist, Dr Mohd Afzanizam Abdul Rashid, said the US dollar index (DXY) was down 0.25 per cent to 98.939 points as the US and China trade talks proceeded as planned, with positive indications from US officials about the negotiations. He highlighted that data from China showed the country's trade with the United States has been declining significantly, with exports and imports falling 34.5 per cent and 18.1 per cent, respectively, in May. 'The figures represented the second consecutive month of contraction, showing that the tariff shocks have had a significant impact on international trade. Meanwhile, the negative print for China's consumer price index has been ongoing for four consecutive months, with the latest reading standing at minus 0.1 per cent year-on-year in April, indicating a challenging economic outlook given weak demand,' he told Bernama. Mohd Afzanizam noted that the USD/MYR remained in a narrow range between RM4.231 and RM4.2458 yesterday amid cautious sentiment among traders and investors, with a similar trend expected to continue today. In early trade, the ringgit traded higher against a basket of major currencies. It rose against the Japanese yen to 2.9242/9310 from Monday's 2.9344/2.9384, appreciated versus the British pound to 5.7300/7428 from 5.7392/7466 and gained vis-à-vis the euro to 4.8303/8412 from 4.8316/8379. The local currency traded mixed against most of its Asean peers. It improved versus the Singapore dollar to 3.2876/2952 from 3.2908/2953 but fell against the Thai baht to 12.9463/9846 from 12.9414/9642 on Monday. It traded almost flat vis-à-vis the Indonesian rupiah at 259.4/260.1 from 259.5/260.0 and was unchanged against the Philippine peso at 7.57/7.59. — Bernama


Free Malaysia Today
36 minutes ago
- Free Malaysia Today
Bursa opens flat with most traders on sidelines
KUALA LUMPUR : Bursa Malaysia traded flat at the opening today as traders mostly stayed on the sidelines amid the prevailing market uncertainty, while awaiting the outcome of trade negotiations between China and the US. At 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) tilted down 0.19 of a point to 1,519.22 from Monday's close of 1,519.41. The benchmark index opened at 1,519.71, higher by 0.30 of a point. The broader market was negative, with decliners outpacing gainers 123 to 109. A total of 232 counters were unchanged, 1,905 untraded and 11 suspended. Turnover stood at 105.27 million units, valued at RM53.92 million. MORE TO COME