KUALA LUMPUR, May 10 — Malaysia's economic growth probably slowed in the first quarter, hit by tepid consumption and declining exports, a Reuters poll of economists showed.

KUALA LUMPUR, May 10 — The ringgit continued to remain on a downtrend against the US dollar in the early session today due to the prevailing risk-off mode.

KUALA LUMPUR, May 9 — The ringgit ended easier against the US dollar today, dragged by the slower growth pace of Malaysia's Industrial Production Index (IPI) in the first quarter of 2023 as well as market talk on the latest Overnight Policy Rate (OPR) hike, which could be the last for the year, according to an economist.

KUALA LUMPUR, May 9 — The better-than-expected industrial production index (IPI) in March 2023 signalled a sustained expansion in the gross domestic product (GDP) for the first quarter of 2023 (1Q 2023), MIDF Amanah Investment Bank Bhd said.

KUALA LUMPUR, May 9 — RHB Investment Bank Bhd has revised upward its first quarter 2023 (1Q2023) gross domestic product (GDP) growth forecast to 5.1 per cent year-on-year (YoY) from 4.2 per cent previously on better-than-expected March Industrial Production.

KUALA LUMPUR, May 9 — Malaysia’s gross domestic product (GDP) growth for the first quarter of 2023 (1Q 2023) is expected to record 5.6 per cent versus five per cent in last year’s corresponding quarter, said Bank Islam Malaysia Bhd (BIMB).

KUALA LUMPUR, May 9 — The sales value of the manufacturing sector expanded by eight per cent year-on-year (y-o-y) to RM156.2 billion in March 2023 mainly lifted by double-digit growth in transport equipment and other manufactures (14.6 per cent y-o-y) and electrical and electronics products (12.7 per cent y-o-y) sub-sectors, the Department of Statistics Malaysia (DOSM) said.

KUALA LUMPUR, MAY 9 — The government is looking in principle at the policy for a progressive wage system in Malaysia and the discussion and engagement process has begun with various stakeholders, said Economy Minister Rafizi Ramli.

KUALA LUMPUR, May 9 — Malaysia's natural rubber production eased 0.1 per cent month-on-month (m-o-m) to 27,188 tonnes in March 2023 from 27,209 tonnes in February 2023.

KUALA LUMPUR, May 9 — Malaysia's Industrial Production Index (IPI) improved to 3.1 per cent in March 2023, driven by a 4.1 per cent expansion in the manufacturing sector and a 0.8 per cent rebound in the mining sector.

KUALA LUMPUR, May 9 — Kenanga Investment Bank Bhd (Kenanga IB) has upgraded its rating recommendation on Tenaga Nasional Bhd (Tenaga) to 'outperform' from 'market perform', as it continues to see value in the utility giant after the recent weakness in its share price.

KUALA LUMPUR, May 9 — The ringgit retreated against the US dollar in the early session today ahead of the US inflation report due to be announced on Wednesday.

KUALA LUMPUR, May 8 — Bank Negara Malaysia (BNM) has reached the end of its hiking cycle and will leave the overnight policy rate (OPR) at 3.0 per cent for the rest of 2023, said BMI.

KUALA LUMPUR, May 8 — Malaysia’s services producer price index (SPPI) rose 3.4 per cent year-on-year (y-o-y) to 114.7 points in the first quarter of 2023 (1Q 2023) from 110.9 in the same quarter last year as most subsectors recorded an increase of prices during the quarter under review.

KUALA LUMPUR, May 8 — Net selling of local equities by foreign investors moderated to just RM20.79 million last week from RM187.79 million in the previous week, while local institutional investors continued their buying stance.

KUALA LUMPUR, May 6 — Malaysia can continue to bank on its strong bilateral trade and investment linkages, especially within Asean, to boost its trade as well as take advantage of various trade pacts such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

KUALA LUMPUR, May 6 — The expected pause in the US Fed Funds Rate is projected to lead to a weaker US dollar in the near term, thus continuing to boost the ringgit’s appeal next week.

KUALA LUMPUR, May 5 — Alliance Bank Malaysia Bhd and Alliance Islamic Bank Bhd will raise their standardised base rate (SBR) by 25 basis points to 3.00 per cent per annum to mirror the overnight policy rate (OPR) effective May 10, 2023, following Bank Negara Malaysia’s OPR revision to 3.00 per cent on May 3, 2023, from 2.75 per cent.

KUALA LUMPUR, May 5 — The ringgit continued to get a boost from overnight policy rate (OPR) hikes and the weakening US dollar amid heavy bets that the Federal Reserve appears to be reaching its terminal rate soon with a smaller rate rise.

KUALA LUMPUR, May 5 — Every 25 basis points hike in the overnight policy rate (OPR) will widen the banking sector’s net interest margin (NIM) by five to six basis points, which in turn will lift earnings forecast by three to four per cent, Hong Leong Investment Bank said.