Latest news with #SitiNoorAferaAbu
Barnama
16-07-2025
- Business
- Barnama
2Q 2025 GDP Likely To Grow 4.5–5.5 Pct Amid Tariff Rush -- Economists
BUSINESS By Siti Noor Afera Abu KUALA LUMPUR, July 16 (Bernama) -- Economists have projected the Malaysian economy to expand between 4.5 per cent and 5.5 per cent in the second quarter of 2025 (2Q 2025), driven partly by increased export demand, especially from the United States (US) importers due to heightened fears of impending tariff in August. Putra Business School Associate Professor Dr Ahmed Razman Abdul Latiff said the service, manufacturing and construction sectors are likely to contribute the most to 2Q 2025 growth. "I expect Malaysia's 2Q gross domestic product (GDP) to show growth. There is also a possibility that the mining and agriculture sectors would make a higher contribution to the economy," he told Bernama. The Statistics Department Malaysia (DOSM) is scheduled to announce the advance GDP estimates for 2Q 2025 on Friday, July 18, followed by an Aug 15, 2025 official announcement. However, Ahmed Razman cautioned that the growth momentum could decelerate in the second half of the year (2H 2025) once the US tariff comes into effect. Nevertheless, the recent reduction of the overnight policy rate (OPR) might catalyse the domestic market to generate higher demand for products and services, he said. On July 9, Bank Negara Malaysia's (BNM) Monetary Policy Committee (MPC) reduced the OPR by 25 basis points to 2.75 per cent, a pre-emptive measure to preserve Malaysia's steady growth path amid moderate inflation prospects. BNM last kept the OPR at 2.75 per cent in March 2023. It was increased to three per cent in May 2023.
Barnama
07-07-2025
- Business
- Barnama
Bursa Malaysia Ends Lower, Tracks Regional Losses On Trade Jitters
By Siti Noor Afera Abu and Danni Haizal Danial Donald KUALA LUMPUR, July 7 (Bernama) -- Bursa Malaysia closed lower on Monday, reversing last week's gains, as regional markets weakened amid renewed investor caution ahead of the July 9 tariff deadline, analysts said. The local bourse tracked losses across Asia as investors awaited United States President Donald Trump's final decision on trade deals. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.65 points, or 0.82 per cent, to 1,537.54, down from last Friday's close of 1,550.19. The benchmark opened 5.45 points lower at 1,544.74 and touched an intraday low of 1,534.67 in early trade. Market breadth was negative, with 754 decliners outpacing 260 gainers. A total of 466 counters were unchanged, while 944 were untraded and 19 suspended. Turnover rose to 3.57 billion shares worth RM2.49 billion, compared with 3.43 billion shares worth RM2.47 billion on Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said trade tensions resurfaced after Trump reaffirmed his intention to impose unilateral tariffs on a broad range of countries.
Barnama
20-06-2025
- Business
- Barnama
Ringgit Almost Flat Vs US Dollar Amid Ongoing Middle East Conflict
Ringgit Almost Flat Vs US Dollar Amid Ongoing Middle East Conflict By Siti Noor Afera Abu KUALA LUMPUR, June 17 (Bernama) -- The ringgit ended nearly flat against the US dollar on Tuesday as investors stayed cautious amid the ongoing military conflict in the Middle East. At 6 pm, the local note stood at 4.2390/2475 versus the greenback compared to yesterday's close of 4.2370/2450. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit-greenback pair continued to trade sideways during the day. He said similarly, the US Dollar Index (DXY) remained below 100 points while Brent crude oil prices fell 0.46 per cent to US$72.89 per barrel. He explained that although geopolitical risks have increased, the impact on financial markets remains relatively manageable, at least for the time being. 'The Middle East situation will continue to be on traders' and investors' radar in the immediate term,' he told Bernama. Looking ahead, Mohd Afzanizam said the US Federal Reserve's future monetary policy decisions would also be influenced by tariff-related shocks. At the close, the ringgit traded higher against a basket of major currencies. It rose versus the Japanese yen to 2.9271/9332 from 2.9397/9455 at Monday's close, strengthened against the British pound to 5.7413/7528 from 5.7555/7664 yesterday, and increased vis-à-vis the euro to 4.8986/9084 from 4.9077/9170 previously. The ringgit was also stronger against its ASEAN peers. It edged up versus the Indonesian rupiah to 260.2/260.8 from 260.4/261.2 on Monday and rose against the Philippine peso to 7.48/7.49 from 7.51/7.53 yesterday. The local currency also gained against the Singapore dollar to 3.3068/3137 from 3.3102/3167 at the previous close and firmed vis-a-vis the Thai baht to 13.0114/0443 from 13.0389/0696 previously. -- BERNAMA
Barnama
04-06-2025
- Business
- Barnama
CPO Futures Likely To Trade Sideways Next Week Amid Limited Market Catalysts, Shorter Week
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to move sideways next week due to limited market catalysts and a shorter trading week. Palm oil trader David Ng said the lack of fresh trading cues will likely keep the market range-bound in the near term. 'We expect the commodity to trade between RM3,750 and RM3,950 per tonne,' he said. Cargo surveyors expect exports of Malaysian palm oil products during May 1-25 to rise between 7.3 per cent and 11.6 per cent, compared with the same period a month ago. Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said market participants will be keenly watching for May supply and demand estimates from newswire polling and the full month production data from the Malaysian Palm Oil Association, including data from the Malaysian Palm Oil Board (MPOB), due on June 10. On a Friday-to-Friday basis, the spot-month June 2025 contract rose RM64 to RM3,888 per tonne, July 2025 was RM55 higher at RM3,891 per tonne, and August 2025 added RM51 to RM3,878. The September 2025 note rose RM49 to RM3,870 per tonne, October 2025 edged up RM46 to RM3,870, and November 2025 gained RM43 to RM3,874. The weekly trading volume was down to 281,987 lots from 331,960 the previous week, while open interest narrowed to 241,994 contracts from 244,075.
Barnama
03-06-2025
- Business
- Barnama
Cautious Trading Ahead For Rubber Market Amid Supply Concerns
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The local rubber market is likely to remain on a downtrend next week as businesses are still cautious about the global market outlook, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA). The association said prices will likely be affected by the supply shortages due to the weather conditions, the strength of the ringgit, crude oil price movements, and the unpredictable nature of the United States-China trade relations and China's economic policies. 'These will contribute to a volatile and uncertain market for rubber in the coming week,' MARGMA told Bernama. Industry expert Denis Low also echoed this view, noting that weather-driven supply disruptions could further add to market volatility. For the week just ended, the Kuala Lumpur rubber market ended on a downtrend this week, weighed down by declines in regional rubber futures markets, weaker benchmark crude oil prices and a stronger ringgit against the US dollar. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) fell by 42 sen to 698.5 sen per kilogramme (kg), while latex in bulk decreased by 6.5 sen to 620.5 sen per kg. The Kuala Lumpur rubber market will be closed on June 2, 2025 (Monday) in conjunction with His Majesty Sultan Ibrahim's official birthday and will commence operations on Tuesday. -- BERNAMA
