KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.75 points to 1,745.31 from Friday’s close of 1,748.06. The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the trading session. Market breadth was positive with gainers leading losers 562 to 558. A total of 636 counters were unchanged, 897 untraded, and 12 suspended. Turnover increased to 4.20 billion units worth RM3.17 billion compared with 3.31 billion units worth RM3.00 billion on Friday.
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.
Comments
Post a Comment