Around the World's Markets: Malaysia

Monday 09 August 1999 23:02 BST

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A GLOOMY Malaysian market fell to three-month lows, brushing aside a decision to cut a key interest rate and robust industrial production figures.

The cut in the intervention rate and output data spurred a bout of buying, but it ran out of steam and the benchmark index ended down 5 per cent to 668.21.

The central bank cut the three-month intervention rate from 6 to 5.5 per cent. "The market anticipated 25 basis points. This is a little big," said an analyst.

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