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MALAYSIA: Country Wrap:  Final 2024 GDP Confirms Stellar Year for Malaysia. 

MALAYSIA
EM BulletBulletAPACEmerging Market News
  • Malaysia’s final 2024 GDP was released today confirming that the South East Asian nation’s growth rate is among the best of its regional peers.  The final 2024 GDP growth rate was 5.1%, up from 3.6% in 2023 and within the forecast for a GDP expansion of +4.8-5.3% for 2024 by the Central Bank.  The forecast range from the BNM for 2025 is currently at +4.5 – 5.5%.  Malaysia’s fourth quarter GDP result was ahead of expectations at 5.0%, from 4.8% in Q3.  (source: MNI – Market News).
  • Malaysia Investment Ministry notified Parliament that they are working on strategies to mitigate the expected implementation of US tariffs.  In a letter to parliament the Ministry indicates that the policy will be one of engagement whilst the government seeks to expand additional export opportunities.  (source: BBG).
  • A shortened week in Malaysia and despite the impressive GDP result today, the FTSE KLCI failed to get excited, down -0.09% whilst on track to finish modestly higher by +0.36% for the week.
  • MYR: the ringgit fought back today to rise +.365% in a bid to finish flat for the week.
  • Bonds: having been very quiet all week, bond yields backed up at the front end by 3-4bps with the MGS 3YR 3.477% (+4bps today).
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  • Malaysia’s final 2024 GDP was released today confirming that the South East Asian nation’s growth rate is among the best of its regional peers.  The final 2024 GDP growth rate was 5.1%, up from 3.6% in 2023 and within the forecast for a GDP expansion of +4.8-5.3% for 2024 by the Central Bank.  The forecast range from the BNM for 2025 is currently at +4.5 – 5.5%.  Malaysia’s fourth quarter GDP result was ahead of expectations at 5.0%, from 4.8% in Q3.  (source: MNI – Market News).
  • Malaysia Investment Ministry notified Parliament that they are working on strategies to mitigate the expected implementation of US tariffs.  In a letter to parliament the Ministry indicates that the policy will be one of engagement whilst the government seeks to expand additional export opportunities.  (source: BBG).
  • A shortened week in Malaysia and despite the impressive GDP result today, the FTSE KLCI failed to get excited, down -0.09% whilst on track to finish modestly higher by +0.36% for the week.
  • MYR: the ringgit fought back today to rise +.365% in a bid to finish flat for the week.
  • Bonds: having been very quiet all week, bond yields backed up at the front end by 3-4bps with the MGS 3YR 3.477% (+4bps today).