February 06, 2025 05:35 GMT
MALAYSIA: Country Wrap: Malaysia’s Infrastructure Set for Growth.
MALAYSIA
- Local Bank will likely continue to grapple with funding-cost pressure on deposit competition and the transmission of elevated policy rates to savers. Bank deposits climbed 3% in December vs. a year earlier, Bank Negara Malaysia (BNM) data show. (source: BBG)
- Palm oil inched higher on expectations for a rebound in demand from top buyer India, after the nation’s imports tumbled to the lowest level in 11 years last month. (source: BBG).
- Malaysia’s industrial sector is poised to sustain its growth this year, supported by strong government initiatives, infrastructure advancements, and emerging industrial parks integrating artificial intelligence (AI), according to Knight Frank Malaysia. In a statement today, the real estate consultancy firm said global trade tensions, particularly the possibility of tariff hikes under President Donald Trump's administration, could prompt manufacturers to diversify their production bases, further strengthening Malaysia’s position as a strategic industrial hub. (source: BBG)
- Malaysia’s FTSE Malay KLCI is doggedly holding onto gains up +0.12% today.
- MYR: the ringgit is weaker by -0.11 to be 4.428.
- Bonds: a strong rally across the curve today with outperformer the MGS 7YR at 3.776%, down 4bps
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