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MALAYSIA: Country Wrap: Exports Unexpectedly Weak in January.

MALAYSIA
  • Malaysia’ January exports surprised markets, rising just +0.3% following +16.9% in December and forecasts of +5.0%.  The largest change in export fortunes by country was China, falling to -4.0%, from +9.6% and Hong Kong down to 12.3% from 33.5% in December and undoubtedly impacted by the Lunar New Year holidays. (source: MNI – Market News)
  • In an environment where the US President is targeting trade imbalances, an unexpected drop in trade surplus may not be a bad thing and Malaysia’s January trade surplus was just MYR3.6bn versus prior of MYR19.1bn and estimate of MYR13.2bn. (source: MNI – Market News)
  • The FTSE Bursa Malaysia KLCI was down again today by -0.39% 
  • MYR:  like many of its regional peers, the ringgit had a good day today gaining +.298% to be at 4.4298.
  • Bonds: the MGS market remains on holiday with limited movement and despite a 2044 MGS auction, the long end saw lower yields.  MGS 10YR 3.808% 
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  • Malaysia’ January exports surprised markets, rising just +0.3% following +16.9% in December and forecasts of +5.0%.  The largest change in export fortunes by country was China, falling to -4.0%, from +9.6% and Hong Kong down to 12.3% from 33.5% in December and undoubtedly impacted by the Lunar New Year holidays. (source: MNI – Market News)
  • In an environment where the US President is targeting trade imbalances, an unexpected drop in trade surplus may not be a bad thing and Malaysia’s January trade surplus was just MYR3.6bn versus prior of MYR19.1bn and estimate of MYR13.2bn. (source: MNI – Market News)
  • The FTSE Bursa Malaysia KLCI was down again today by -0.39% 
  • MYR:  like many of its regional peers, the ringgit had a good day today gaining +.298% to be at 4.4298.
  • Bonds: the MGS market remains on holiday with limited movement and despite a 2044 MGS auction, the long end saw lower yields.  MGS 10YR 3.808%