KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Malaysia’s economy expanded by 5% in Q4 2024, surpassing the 4.8% forecast and driven by a strong services sector, resilient household spending, and investment growth.
📊 Key Economic Highlights
🔹 Q4 2024 GDP Growth: 5% y-o-y (above the 4.8% estimate).
🔹 Full-year 2024 GDP Growth: 5.1%, up from 3.6% in 2023 but slightly below the 5.4% growth in Q3 2024.
💬 BNM Governor Abdul Rasheed Ghaffour: "Malaysia’s growth will continue to be supported by robust investments, resilient household spending, and export growth despite global challenges."
📈 Sector Performance in Q4 2024
- Services: Grew 5.5% y-o-y, leading the economy.
- Manufacturing: Increased 4.4% y-o-y.
- Construction: Surged 20.7% y-o-y, reflecting strong infrastructure activity.
- Mining: Declined 0.9% y-o-y.
- Agriculture: Contracted 0.5% y-o-y.
💰 Current Account & Trade
🔹 Current account surplus widened to RM11.4 billion ($2.6 billion) from RM2.2 billion in Q3, driven by stronger exports and steady trade flows.
📌 Why It Matters: A wider current account surplus signals stronger external trade performance, supporting the ringgit and economic stability.
🔍 What’s Driving Growth?
✔️ Vigorous private and public consumption fueled by government support and consumer confidence.
✔️ Increased investment activity across sectors, particularly in construction and services.
✔️ Export growth, despite global headwinds, continues to bolster the economy.
🔮 Outlook for 2025
📌 Bank Negara Malaysia expects steady growth, underpinned by:
- Robust investment flows into infrastructure and key industries.
- Resilient household spending despite global uncertainties.
- Export growth as demand for Malaysian goods remains strong.
📌 Challenges Ahead: Global economic uncertainties and potential external shocks could pose risks, but Malaysia’s strong fundamentals provide a buffer.
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