Around the World's Markets: KUALA LUMPUR

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MALAYSIA'S benchmark KLSE index recouped almost all of Tuesday's 13 per cent loss, ending up 12 per cent at 294.59 as investors covered short-stock positions amid the confusion over the introduction of foreign exchange and capital controls.

The stock exchange said the new rules did not impose a one-year moratorium on share sales, but proceeds from such sales would have to be kept in Malaysia for at least a year. The central bank said it had fixed the ringgit indefinitely at 3.80 to the dollar.

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