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Friday, 17 November 2017

Malaysia’s economy grew stronger; #GDP surged by 6.2 per cent.


Malaysia: The economy surged by 6.2 per cent in the third quarter and is on track to meet the growth projections for 2017 said Bank Negara Malaysia governor Tan Sri Muhammad Ibrahim.
The stellar quarterly growth was last seen in the second quarter of 2014.
The latest growth number came on the back of robust private sector spending and continued strength in exports.
"Given the continued strong growth, the economy is on track to register the upper end of 5.2 -5.7 per cent growth projection this year, "he told a media briefing this morning.
The first three quarters recorded an average 5.9 per cent year-on-year growth, he said.
Growth prospects continue to be supported by new and ongoing implementation of infrastucture projects and improvement in growth of Malaysia's key trading partners.
The robust growth in the third quarter stemmed from expansion across all economic sectors.
On the supply side, services and manufacturing sectors remained the key drivers of growth.
Private consumption expanded by 7.2 per cent and Muhammad attributed it to improving employment conditions and private sector wage growth.
The headline inflation dropped to 3.8 per cent in the third quarter from 4.3 per cent and 4.0 per cent in the first and second quarters respectively.
" It will record between 3 and 4 per cent growth this year, depending on oil prices."
It is expected to lower further in 2018.
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Thursday, 16 November 2017

Global correction in all equity prices #fund focused on emerging and frontier markets.


SINGAPORE: Rally of the emerging markets stocks will endure for two more years as declining debt levels in developing economies leads to sustainable economic growth, according to Terra Nova Capital Advisors Ltd.

"I don't think we have seen the end of the EM rally," said Ami Kemppainen, Dubai-based managing partner at Terra Nova, which runs a $125-million fund focused on emerging and frontier markets.

"We could see a couple of more years of nice performance. Perhaps the thing that will end it is a global correction in all equity prices."

The MSCI Emerging Markets Index has climbed 29 percent this year, hitting its highest level since 2011.

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Wednesday, 15 November 2017

Malaysia Says #Foreign-Insurers Should Adhere to Holdings Pact.


Malaysia: Certain foreign insurers may consider listing in Malaysia to meet the minimum shareholding requirement of 30%, CIMB analyst Winson Ng writes.
* Enforcement of the rule may lead to M&As.
* Bank Negara in June reinforced the requirement that foreign insurers must have a local shareholding of at least 30% by June.
2018
* Malaysian life insurance is dominated by three foreign life insurers: AIA, Great Eastern and Prudential.
* Total market capitalization of the three would be 19.1b ringgit.
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Tuesday, 14 November 2017

Re-entry of #foreign-funds into the equity folio. Turnover stood at million #KL-shares.


Malaysia: Bursa Malaysia opened higher this morning, prompted by the stronger ringgit and the re-entry of foreign funds into the equity market since last week.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.33 points better at 1,742.82 from Monday's close of 1,737.49.
The key index opened 5.78 points higher at 1,743.27. 
Gainers led losers 153 to 76 while 183 counters remained unchanged with 1,428 untraded and 20 others were suspended. 
Turnover stood at 86.30 million shares worth RM47.08 million.

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Monday, 13 November 2017

KL Market breadth was positive with gainers #outpacing decliners #counters unchanged.


Malaysia: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened marginally higher this morning, bolstered by buying interest in oil and gas, shipping and energy bluechips, dealers said.
At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,743.64, up 1.36 points, from Friday’s close of 1,742.28. The key index opened 0.86 of-a-point better at 1,743.14.
Market breadth was positive with gainers outpacing decliners 174 to 82 while 219 counters were unchanged, 1,359 untraded and 20 others were suspended.
Turnover stood at 267.51 million shares worth RM107.50 million.
Leading movers in the FBM KLCI component stocks were Petronas Dagangan which surged RM1.20 to RM22.80, MISC garnered eight sen to RM7.38, Tenaga added four sen to RM14.94 and Petronas Chemicals rose two sen to RM7.46.
AllianceDBS Research Sdn Bhd, in a note, said following the weak close on Friday, the weekly FBMKLCI was likely to move lower with immediate support noted at the 1,739 points level while the immediate hurdle was projected at the 1,752 points level.
The FBM 70 rose 43.60 points to 15,592.47 and the FBM Ace advanced 7.62 points to 6,836.34.
On a sectoral basis, the Finance Index bagged 1.73 points to 16,231.45, the Plantation Index trimmed 13.27 points to 8,002.74 while the Industrial Index gained 3.79 points to 3,205.54.
Among actives, Sumatec was flat at 5.5 sen, Hibiscus rose 2.5 sen to 81.5 sen, PUC slipped half-a-sen to 21.5 sen and MUI perked half-a-sen to 27 sen.
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Friday, 10 November 2017

Bank Negara’s decision to leave key interest rates unchanged. #Ringgit continues rise.


Malaysia: The ringgit extended yesterday's gains to continue its strong upward momentum against the US dollar, buoyed by Bank Negara's decision to leave key interest rates unchanged.
At 9.05am, the local unit traded 160 basis points better at 4.1890/1920 against the greenback from 4.2050/2080 on Thursday.
The central bank kept the overnight policy rate unchanged at three per cent at its eighth straight meeting yesterday.
The ringgit, however, was traded mixed against a basket of other major currencies.
It rose against the Singapore dollar to 3.0831/0864 from 3.0878/0905 on Thursday, and appreciated versus the yen to 3.6960/6996 from 3.7058/7088 yesterday.
Against the British pound, the ringgit decreased to 5.5081/5125 from 5.5060/5112 yesterday, and weakened versus the euro to 4.8810/8858 from 4.8782/8830 on Thursday.

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Thursday, 9 November 2017

Trump’s tax reform plan #ringgit traded higher.


Malaysia: The ringgit opened higher against the US dollar for the third consecutive day today as more investors shifted to emerging currencies due to worries over possible delays to US President Donald Trump’s tax reform plan, dealers said.
At 9.02 am, the local unit was traded at 4.2270/2300 against the greenback from 4.2280/2300 on Wednesday.
The ringgit was also traded higher against a basket of major currencies.
It increased against the Singapore dollar to 3.1012/1044 from 3.1015/1039 on Wednesday and appreciated versus the yen to 3.7056/7089 from 3.7176/7203 yesterday.
Against the British pound, the ringgit rose to 5.5416/5468 from 5.5522/5565 yesterday and strengthened versus the euro to 4.8970/9017 from 4.9011/9038 on Wednesday.

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Wednesday, 8 November 2017

#BURSA Sector-wise; the #Plantation-Index points higher #Industrial-Index dropped #Finance-Index decreased.


Malaysia: Bursa Malaysia retreated to open lower today, amid mixed trading sentiment coupled with concerns over the possible delay in US corporate tax cut, contributed to the downbeat mood among investors, a dealer said.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.54 points lower at 1,746.40 from yesterday’s close of 1,750.94.
The key index opened 4.06 points easier at 1,746.88.
On the broader market, gainers were higher at 116 against 93 losers while 183 counters remained unchanged with 1,432 untraded and 21 others were suspended.
Turnover stood at 101.86 million shares worth RM40.48 million.
Of heavyweights, Maybank erased two sen to RM9.23, Tenaga eased 10 sen to RM14.74, PBBank deducted four sen to RM20.44, Sime Darby shed one sen to RM9.05, Petronas Chemicals was flat at RM7.33 but Genting added two sen to RM9.37.
Among active counters, Perak Transit increased 1.5 sen to 31.5 sen, Diversified Gateway and Key Alliance were flat at eight sen and 14 sen, respectively, and PUC was half-a-sen lower at 19 sen.
The FBM Emas Index decreased 14.85 points to 12,598.16, FBMT 100 Index was 13.87 points lower at 12,237.38, FBM 70 increased 48.97 points to 15,534.89, FBM Emas Shariah Index fell 15.64 points to 13,027.45 but the FBM Ace rose 31.15 points to 6,828.73.
Sector-wise, the Finance Index decreased 38.61 points to 16,289.26 and Industrial Index dropped 9.74 points to 3,183.22 but the Plantation Index was 7.15 points higher at 8,018.35.
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Tuesday, 7 November 2017

Malaysia among countries; #digital-technologies #labour-market-efficiency #financial #business-sophistication #artificial-intelligence

Related image
Malaysia: Malaysia is among the countries which have the highest services potential of digital technologies, particularly in government and labour-market efficiency, business sophistication and financial market development.
According to the Standard Chartered Global Research Special Report: Productivity Slowdown - Is This Time Different?, the United States, Hong Kong and Singapore top of the list with the highest services potential, reflecting the importance of the sector to these countries, the high tradebility of services and solid performance on indicators such as technology transfer, education and labour-market efficiency.
It said improvements in these sectors could also help to raise productivity levels in more traditional services sectors such as health and education, utilities and social and personal services.
"New technologies such as artificial intelligence and service robots have the potential to drive faster productivity, even in these more traditional services," it said.
Meanwhile, the report said a major study by the Organisation for Economic Co-operation and Development found that global 'frontier' firms, that is the most productive, in services achieved productivity growth of 5.0 per cent per annum while non-frontier firms saw productivity fall 0.1 per cent per annum in the 2000s.
"The productivity growth of frontier firms in services was even higher than that of frontier firms in manufacturing (3.5 per cent per annum) during the same period," it said. Meanwhile, it added.

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