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Singapore Growth Risks Rise as Oil Shock Clouds Outlook

Singapore markets opened marginally higher, but underlying sentiment remains cautious as  Middle East tensions threaten economic growth and inflation stability . Market Holds Steady Despite Rising Risks The  FTSE Singapore Straits Times Index  edged up  0.05% to 4,899.83 , reflecting a  balanced market tone : Advancers: 57 | Decliners: 47 Trading activity remained relatively muted This suggests investors are  waiting for clearer macro signals  amid global uncertainty. Global Headwinds: Oil and Tech Weigh on US Markets On Wall Street, markets were mixed: Nasdaq Composite Index  fell  0.7% S&P 500 Index  declined  0.4% Dow Jones Industrial Average  rose  0.1% Losses in  technology stocks  and rising oil prices offset relatively  dovish comments from  Jerome Powell , who signalled no immediate need for rate hikes. Singapore Growth Outlook Faces Downside Risks RHB flagged  rising downside risks to ...
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Malaysia's Consumer Inflation Growth Slows

 Inflation Overview:

  • Consumer Price Index (CPI) in Malaysia rose 1.5% year-on-year in February 2025, reflecting a slight slowdown compared to the expected 1.6% increase.
  • The housing and utilities sectors saw a deceleration in price growth, contributing to the overall slowdown in inflation.

Key Inflation Drivers:

  • Food & Non-Alcoholic Beverages: These prices increased by 2.5% year-on-year, with this category holding a significant 29.8% weight in the CPI calculation.
  • Core Inflation: This, which excludes volatile food prices and government-controlled items, rose 1.9% year-on-year.

Sectoral Inflation (February 2025):

  • Food & Beverages: +2.5% YoY
  • Housing, Utilities & Fuels: +2.3% YoY
  • Transport: +0.7% YoY
  • Information & Communication: -5.3% YoY (a notable decrease)
  • Personal Care & Miscellaneous Services: +3.7% YoY
  • Furnishings & Household Maintenance: +0.3% YoY

Outlook for 2025:

  • Inflation Forecast: RHB projects 2.4% inflation in 2025, up from 1.8% in 2024, driven by easing global commodity prices and moderate domestic demand.
  • Fuel Subsidy Reform: The upcoming reform in mid-2025 is expected to have a limited impact on inflation if implemented gradually.

Monthly Data:

  • On a month-on-month basis, CPI rose 0.4% in February, a significant improvement from January’s 0.1% decrease.

Conclusion:

  • Inflation in Malaysia is expected to stay manageable through 2025, with sectors like food, housing, and transport continuing to drive price changes, but overall inflation remaining relatively stable.
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