Malaysia says reserves well-diversified

Malaysia's international reserves are well-balanced and not excessive in US dollar holdings, Bernama news agency reported, quoting Bank Negara Malaysia (BNM) Deputy Governor Ooi Sang Kuang.

"I can tell you that we maintain well-diversified reserves ... balancing liquidity, risk and return," Ooi was quoted as saying.

He was reacting to concerns expressed at a seminar earlier today that Malaysia's reserves are "overloaded" with the US currency.

He said that the US dollar had been weighed down foll