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
Key Takeaway: Japan’s economy expanded by an annualized 0.9% in Q3 2024, a slowdown from the previous quarter, as weak capital spending weighed on growth, though a surprising rise in consumption provided a bright spot.
TOKYO (Nov 15): Japan’s economy grew at a slower pace in Q3 due to tepid capital expenditure and falling external demand, with net exports reducing GDP growth by 0.4 percentage points. However, private consumption surged by 0.9%, outperforming forecasts and offsetting some of the slowdown, government data showed.
Key Highlights:
- GDP Growth: Annualized growth slowed to 0.9%, down from a revised 2.2% in Q2 but slightly above the 0.7% market estimate. On a quarterly basis, GDP rose 0.2%.
- Consumption: Private consumption, making up over half of Japan's GDP, jumped 0.9%, driven by a recovery in auto production and temporary income tax cuts.
- Capital Spending: Business investment fell 0.2%, matching expectations, as global economic weakness hit demand for machinery.
- Net Exports: The trade balance knocked 0.4 percentage points off GDP growth, reflecting weaker overseas demand.
Economic Outlook:
The unexpected strength in consumption supports the Bank of Japan’s forecast for a recovery fueled by higher wages and sustained inflation targeting 2%. Economists believe the data bolsters the case for gradual rate hikes, though risks loom from slower US and Chinese economies and potential tariffs under President-elect Trump.
"I expect moderate recovery to continue," said Kazutaka Maeda of Meiji Yasuda Research Institute. However, global headwinds and domestic wage growth will play a critical role in shaping Japan’s economic trajectory.
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