KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Thailand's manufacturing production index (MPI) rose by 1.79% in July from a year earlier, marking its first increase in three months, according to the country's industry ministry. This growth surpassed a forecasted 0.7% decline predicted by a Reuters poll, signaling a potential recovery for the sector. The rise was attributed to stronger exports, increased tourism, and higher public spending.
Key Takeaways:
Positive Turn in Factory Output: The July MPI showed a 1.79% increase, a reversal from a 1.63% decline in June, indicating a recovery in Thailand's manufacturing sector. The deputy director general of the Office of Industrial Economics, Krit Chansuwan, expressed optimism, expecting further growth in August based on higher import levels, which is a positive sign for future manufacturing and exports.
Boost from Exports and Tourism: Thailand's export sector saw a notable improvement, with a 15.2% rise in July compared to the previous year, marking the biggest increase in over two years. Imports also rose by 13.1% in the same period. Meanwhile, the tourism sector is showing strong recovery, with 23.1 million foreign visitors recorded so far this year, up 32% from the same period last year, approaching pre-pandemic levels of nearly 40 million visitors in 2019.
Annual Outlook and Forecast: Despite the recent growth, the overall factory output for the January-July period contracted by 1.48% compared to the previous year. The ministry maintained its forecast for a modest growth in manufacturing output of between 0% and 1% for the whole of 2024, reflecting cautious optimism amidst the ongoing recovery.
The rise in factory output, coupled with stronger export performance and a rebound in tourism, indicates positive momentum for Thailand's economic recovery, although challenges remain in achieving sustained growth throughout the year.
Comments
Post a Comment