Investment Market News

Malaysia Investment News Articles

2010-01-15T12:24:00.001+08:00

Khazanah Expects to Boost Value of Assets Amid Global Recovery
BusinessWeek
14 (Bloomberg) -- Khazanah Malaysia Bhd., the nation's state investment agency, is "cautiously optimistic" its asset value will increase as global financial ...
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Malaysia Explores Investment Opportunities In Indonesia's Agri Sector
Bernama
Indonesia, he said, would not limit the amount of investment in the food industry. Malaysian Ambassador to Indonesia Datuk Syed Mushe Afdzaruddin Syed ...
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Indian Investment in Real Estate Sought by Malaysia
TopNews Singapore
Malaysia is all set to organize a three-day property fair from January 22 onwards, in order to attract Indian investments in the country's real estate ...
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The Malaysian Insider

'Allah' feud won't affect investment, says major fund manager
The Malaysian Insider
"We are quite positive about Malaysia, we just opened an office and we believe there are great opportunities going forward," Templeton chairman Mark Mobius, ...
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Malaysia Expecting China to Increase FDI Inflow
TopNews Singapore
Via an investment in Malaysia, Chinese manufacturers can effectively value-add their productions, and also meet the 40% content requirement put forward by ...
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Khazanah's Net Asset Value Rose 63 Percent in 2009
BusinessWeek
14 (Bloomberg) -- Khazanah Nasional Bhd., Malaysia's state investment company, said the net value of its assets rose 63 percent in 2009 from a year earlier, ...
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Aminvestment Declares 1.85 Sen Final Distribution For ABF Malaysia Fund
Bernama
... a yield of 2.0 per cent investment return based on the net asset value (NAV) of RM3.7 million as at Dec 31, 2008. The fund, Malaysia's first bond etf, ...
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Service-oriented drive widens business scope
New Straits Times
LONDON: THE move to liberalise investment guidelines would strengthen Malaysia's competitiveness as a place for both Malaysians and foreigners to do ...
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India's GTL to buy Aircel towers
Financial Times
GTL will pay Rs84bn ($1.8bn) for 17500 towers with rights to roll out 20000 more for Aircel, a unit of Malaysia's Maxis Communications. ...
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Malaysian tanker operator enters India
Livemint
"Exploring the opportunity to flag an AET vessel in India is a logical extension to AET's considerable investment in India," Paul Lovell, head of corporate ...
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Indian investment in real estate sought by Malaysia | Opalesque ...
By laxman
From Topnews.com.sg: Malaysia is all set to organize a three-day property fair from January 22 onwards, in order to attract Indian investments in the country's real estate sector. As per information shared by the Malaysia Property ...
Opalesque Real Estate Briefing - http://www.opalesque.com/Realestate_Briefing/

How to look like a lesbian tennis player... - Kuala Lumpur ...
As we walked through the concrete sprawl of western symbolism it was hard not to notice where most of Malaysia's investment and money came from. It seemed every western bank and big business wanted a piece of the pie. ...
TravelPod.com TravelStream™... - http://www.travelpod.com/syndication/rss

A Journalist Speaks..........: Is Malaysia becoming India's realty ...
By animitrachakraborty
It is to be noted that the Foreign Investment Committee (FIC) of the Government of Malaysia has annunciated of late of a wide-ranging deregulation of investment guidelines to help smooth inflow of investments into the country. ...
A Journalist Speaks.......... - http://animitrachakraborty.blogspot.com/

BERNAMA - British Investors Expected To Invest RM558 Million Over ...
LONDON, Jan 14 (Bernama) -- Deputy Prime Minister Tan Sri Muhyiddin Yassin says Malaysia had the potential to receive investments totalling RM558 million in various investment areas, the biggest being aerospace, over the next two to ...
BERNAMA - English Version - http://www.bernama.com/

Malaysia Trying Hard to Lure Indian Property Investors | PropertyHeat
By Paul Joseph
Speakers will include the Malaysian Investment and Development Authority, ministry of tourism and Malaysia Property Incorporated on investing in the country's real estate. The expo is organised in conjunction with the Confederation of ...
PropertyHeat - http://www.propertyheat.com/

[NEWS] MALAYSIA EXPLORES INVESTMENT-2 - Yahoo! Malaysia News
'The cooperation between Malaysia and Indonesia is expected to speed up the development of food crops and livestock industry, and this, in turn, ...

Stock And Bond Market Reports

2008-09-05T15:48:00.001+08:00

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Week ended 25 April 2008

2008-04-25T10:37:00.001+08:00

The KLCI touched a 7-week intraday high of 1,300.1 points on Thursday following the rise in regional markets over the week. However, profit-taking caused the KLCI to close 1,288 points to register a gain of 1.6% for the week.

· Most regional markets closed on a higher note with the Shanghai Composite Index and Hang Seng China Enterprise Index registering gains of 15% and 12.2% respectively for the week.

· The local market is expected to continue to take its cue from regional markets as investors monitor the outlook for economic growth and interest rates in the U.S.

STOCKMARKET COMMENTARY

The KLCI touched a 7-week intraday high of 1,300.1 points on Thursday as sentiment was lifted by higher regional markets. However, profit-taking caused the KLCI to close at 1,288 points to register a gain of 1.6% for the week.

Average daily trading volume increased to 0.7bil units from 0.5bil units while daily turnover in value terms rose to RM1.3bil from RM1.2bil in the previous week.

Most regional markets closed on a higher note. The Shanghai Composite Index and Hang Seng China Enterprise Index registered weekly gains of 15% and 12.2% respectively following the Chinese government’s reduction of stamp duty on share transactions from 0.3% to 0.1%.

On Wall Street, share prices rose as investors’ concerns over the credit market crisis continued to ease. The Dow rose by 0.3% to close at a 4-month high of 12,892 points while the Nasdaq rose higher by 0.8% to 2,423 points over the week.

In the U.S., existing home sales fell by a smaller margin of 0.8% in 1Q2008 quarter-on-quarter compared to a decline of 8.4% in 4Q2007. Existing home prices continued to decline by 4.3% to US$198,700 in 1Q2008 after falling by 6.2% in 4Q2007. U.S. durable goods new orders contracted by 1.8% in 1Q2008 versus a contraction of 2.2% in 4Q2007 due to lower demand for metals, machinery, automobile & parts and electrical equipment. At the Federal Open Market Committee (FOMC) meeting to be held on 30^th April, the Federal Reserve is expected to reduce the Federal funds rate by 25 basis points to 2% as the easing cycle is anticipated to end sometime in 2H2008.

Crude oil prices rose to a record high of US$119.7/brl to register a weekly gain of 2.6% on concerns over tight oil supplies due to geopolitical tensions in the Middle East and Nigeria.

On the local front, Malaysia’s inflation rate rose to a 13-month high of 2.8% in March from 2.7% in February as food & non-alcoholic beverages prices increased by 4.9% in March from a 4.4% increase in February.

The Ringgit weakened by 0.4% against the U.S. dollar to close at RM3.1543 for the week on speculation that the central bank sold the local currency to stem its recent uptrend. On a year-to-date basis, the Ringgit appreciated by 4.8% against the greenback.

Looking ahead, the local market will continue to take its cue from regional markets as investors monitor the outlook for economic growth and inflation.

At the KLCI’s closing level of 1,288.08 points on 25^th April 2008, the local stock market is valued at a P/E of 15.7x on 2008 earnings, which is at 7.2% discount to its 8-year average of 16.9x. The market is also supported by an attractive gross dividend yield of 4.3% which is comparable to the Ringgit fixed deposit rates for tenures of less than one year.

BOND MARKET COMMENTARY

For the fortnight ended 25^th April 2008, the U.S. Treasury bond market fell due to concerns over higher inflationary pressures. The 10-year U.S. Treasury yield closed at a 2-month high of 3.87%, up 40 basis points (bps) over the fortnight. The 3 and 5-year U.S. Treasury yields rose by 68 bps and 61 bps to 2.42% and 3.18% respectively over the same period.

Malaysian Government Securities (MGS) market eased on the back of heightened inflationary concerns and weak demand for the reopening of the new 3-year MGS. Yields on the 3, 5 and 10-year MGS rose by between 4 bps and 7 bps to 3.49%, 3.52% and 3.79% respectively over the fortnight.

Local corporate bonds also eased on higher trading activities with the yields on the 5 and 10-year AAA corporate bonds rising by 10 bps and 2 bps to 4.60% and 4.97% respectively over the fortnight. The 3-year AAA corporate bond yield remained unchanged at 4%.

In the money market, the spread of the 3-month KLIBOR over the 3-month U.S. Treasury bill rate narrowed to 225 bps from 243 bps over the fortnight as the yield on the 3-month U.S. Treasury bill rose by 18 bps to 1.36%.

Sentiment on the U.S. Treasury bond market is expected to remain cautious as the Federal Reserve may pause its easing monetary policy in view of potential inflationary pressures. The Federal Reserve is expected to make a less aggressive reduction of 25 basis points in the Federal funds rate to 2% at the FOMC meeting on 30^th April.

On the domestic fixed income front, the market is expected to remain underpinned by resilient demand for quality bonds and expectations of a strengthening Ringgit exchange rate against the U.S. dollar. However, bond investors are expected to maintain a cautious stance as they continue to monitor potential inflationary pressures amidst elevated food prices.

Week ended 18 April 2008

2008-04-23T10:35:00.001+08:00

The KLCI rose as selected plantation and oil & gas-related stocks rose on continued firmness in crude palm oil prices and record oil prices. Sentiment was also lifted by the rebound in U.S. equity markets towards the end of the week. The KLCI closed a 6-week high of 1,267.6 points for a gain of 1.7% for the week.

Average daily trading volume during the week remained unchanged at 0.5 billion units while average trading value fell to RM1.1 billion from RM1.4 billion in the preceding week.

On Wall Street, the Dow rose to the highest in three months as the latest set of 1Q2008 corporate profits for selected stocks were better-than-expected. The Dow rose by 4.3% to 12,849 points while the Nasdaq closed higher by 4.9% to 2,403 points over the week.

The U.S. headline inflation rate was sustained at 4% in March. However, the core inflation inched up to 2.4% in March from 2.3% in February on higher housing and transportation costs. U.S. retail sales growth decelerated to 0.1% in March from 7.1% in February due to lower sales of vehicles and furniture. U.S. housing starts contracted by 11.9% month-on-month to a 17-year low of 947,000 units in March after declining by 0.7% in February.

Crude oil prices rose to a record high of US$116.70/brl on 18th April to register a weekly gain of 5.9% on concerns that the Organisation of Petroleum Exporting Countries (OPEC) would not increase oil supplies. OPEC's next meeting will be on 9 September 2008.

On the local front, manufacturing sales growth rose to 21.1% in February from 15.8% in January on higher sales of refined petroleum products. Malaysia’s foreign reserves decreased by RM8.6bil in the last two weeks of March to RM384.7bil as at 31st March 2008 compared to an increase of RM9.1bil in the first two weeks of March. The decline in reserves was due to the quarterly adjustment of foreign exchange revaluation losses as the Ringgit strengthened against major currencies in 1Q2008.

The Ringgit registered a weekly gain of 0.3% against the U.S. dollar to close at a 1-week high of RM3.142. On a year-to-date basis, the Ringgit has appreciated by 5.6% against the greenback.

Looking ahead, the local market is expected to continue moving in tandem with overseas markets over the near term.

At the KLCI’s closing level of 1,267.6 points on 18th April 2008, the local stock market is valued at a P/E of 15.7x on 2008 earnings which is at a discount of 7.1% to its 8-year average of 16.9x. The market is also supported by a gross dividend yield of 4.2% which compares favourably to Ringgit fixed deposit rates for tenures of less than one year.

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Week ended 11 April 2008

2008-04-15T10:50:00.000+08:00

STOCKMARKET COMMENTARY

The KLCI rose to a 2-week intraday high of 1,256.2 points on Friday on buying of plantation stocks following the rebound in crude palm oil prices, which rose by 5% to RM3,445/tonne for the week. However, profit-taking caused the KLCI to close at 1,246.8 points to register a gain of 2.0% for the week.

Average daily trading volume fell to 0.5bil units from 0.6bil units while daily turnover in value terms rose to RM1.4bil from RM1.2bil in the previous week.

Most regional markets closed on a firmer note with the Taiwan market registering a weekly gain of 3.6% on expectations that closer economic and political ties with China will boost Taiwan’s economic prospects.

On Wall Street, share prices eased due to continued easing in consumer confidence and weaker-than-expected first quarter earnings of a diversified industrial conglomerate. The Dow closed at 12,325 points for a loss of 2.3% while the Nasdaq fell 3.4% to 2,290 points over the week.

Consumer confidence in the U.S. as measured by the University of Michigan’s consumer sentiment index fell to a 26-year low of 63.2 in April from 69.5 in March on concerns over the job market and rising inflationary pressures. U.S. export growth rose to 20.8% in February from 16.7% in January as the weaker dollar made U.S. products more competitive. However, import growth accelerated to 16.4% in February from 12.4% in January over the same period. As imports outpaced exports, the cumulative trade deficit for the first two months of 2008 widened to US$121.3 billion from a deficit of US$115.6 in the same period last year.

Crude oil prices rose to a record high of US$110.87/barrel on Wednesday on renewed concerns over a weak US dollar and tight oil supplies before easing to close at US$110.14/barrel to register a weekly gain of 3.7%.

On the regional front, China’s export growth accelerated to 30.6% in March from 6.5% in February due to increased exports to U.S. and Hong Kong. However, import growth eased to 24.6% from 35.1% over the same period. China’s cumulative trade surplus for 1Q2008 narrowed by 10.5% to US$41.4 billion compared to the same period last year.

On the local front, industrial production growth eased to 6.3% in February from a revised 7.6% in January on slower manufacturing activities amidst lower electronics orders from the U.S.

Due to the weakening of the U.S. dollar against major currencies, the Ringgit registered a weekly gain of 1.3% against the U.S. dollar to close at RM3.151. On a year-to-date basis, the Ringgit appreciated by 4.9% against the greenback.

At the KLCI’s closing level of 1,246.8 points on 11th April 2008, the local stock market is valued at a P/E of 15.4x on 2008 earnings, which is at 9% discount to its 8-year average of 16.9x. The market is also supported by an attractive gross dividend yield of 4.3% which is comparable to the Ringgit fixed deposit rates for tenures of less than one year.

BOND MARKET COMMENTARY

For the fortnight ended 11th April 2008, the U.S. Treasury bond market weakened as funds shifted from safer government bonds to corporate bonds amidst expectations that the worse of the credit crisis may be over. The 10-year U.S. Treasury yield rose to a month high of 3.60% before closing at 3.47%, up 3 basis points (bps) over the fortnight. The 3 and 5-year U.S. Treasury yields rose by 16 bps and 7 bps to 1.68% and 2.57% respectively over the same period.

Malaysian Government Securities (MGS) were supported by the firmer Ringgit, which strengthened by 1.4% against the U.S. dollar over the fortnight. Yields on the 5 and 10-year MGS fell by 4 bps and 2 bps to 3.47% and 3.75% respectively over the fortnight.

Trading on the local corporate bond market remained thin in the absence of fresh leads with the yields on the 3 and 5-year AAA corporate bond yields remaining unchanged at 4.00% and 4.50% respectively. However, the 10-year AAA corporate bond yield rose by 10 bps to 4.95% over the fortnight.

In the money market, the spread of the 3-month KLIBOR over the 3-month U.S. Treasury bill rate widened to 243 bps from 224 bps over the fortnight as the yield on the 3-month U.S. Treasury bill fell by 19 bps to 1.18%.

Sentiment on the U.S. Treasury bond market is expected to be cautious as the Federal Reserve’s continued easing of monetary policy may fuel higher inflationary pressures. The Federal Reserve is expected to further reduce the Federal funds rate at the next Federal Open Market Committee (FOMC) meeting on 30th April as it seeks to mitigate sluggish economic activities in the U.S.

On the fixed income front, the market is expected to remain underpinned by resilient demand for quality bonds and expectations of a strengthening Ringgit exchange rate against the U.S. dollar. However, bond investors are expected to maintain a cautious stance as they continue to monitor potential inflationary pressures amidst elevated food prices.

Week ended 04 April 2008

2008-04-08T09:16:00.006+08:00

Led by selling of selected plantation stocks following the easing of crude palm oil prices, the KLCI fell to close at 1,221.9 points to register a loss of 2.9% for the week.

Regional markets rose in tandem with higher U.S. markets on expectations that the worst of the global credit crisis may be over.

The market is expected to remain in consolidation in the near term as investors monitor the outlook for economic growth and interest rates in the U.S.

STOCKMARKET COMMENTARY

The KLCI closed easier following a selldownof selected plantation stocks ascrude palm oil prices eased by 7% toRM3,297/tonne over the week. Investorsgenerally remained on the sidelines amida lack of fresh leads. The KLCI closed at1,221.9 points to register a loss of 2.9%for the week.

Average daily trading volume during theweek eased to 0.6 billion units from 0.9billion units while average trading valuefell to RM1.2 billion from RM1.6 billionin the preceding week.

On Wall Street, share prices reboundedfollowing news of the recapitalisationplans of two major investment banks,which fuelled expectations that the worstin the credit crisis may be over. TheDow rose by 3.2% to 12,609 points. TheNasdaq closed higher by 4.9% to 2,371points over the same period.

In the U.S., non-farm job losses rose to a5-year high of 80,000 in March compared to 76,000 job losses inFebruary due to a decrease inconstruction and manufacturing jobs. Consequently, the unemployment rate rose to a 2-year high of 5.1% in March from 4.8% in February. The U.S. Institute of Supply Management’sPurchasing Managers’ Index rose marginally to 48.6 in March from 48.3 inFebruary due to an increase in neworders. However, the reading remains below 50, which indicates a contraction in manufacturing output.

Crude oil prices rose to a 3-week high ofUS$106.23/brl to register a weekly gainof 0.6% due to weakness in the U.S. dollar.

On the local front, export growth rose to14.5% in February from 10.4% in January on higher exports ofcommodities and chemical products. Meanwhile, import growth increased to10.9% from 7.1% over the same period. The cumulative trade surplus for the first two months of 2008 widened by 29.9% to RM18.9 billion compared to same period last year.

The Ringgit appreciated marginally by 0.1% against the U.S. dollar to close at RM3.1937 on 4th April 2008 as the U.S. dollar weakened against major currencies. On a year-to-date basis, theRinggit appreciated by 3.5% against the greenback.

Looking ahead, the local market is expected to move in a trading range on lack of fresh positive catalysts on the domestic front. At the KLCI’s closing level of 1,221.9 points on 4th April 2008, the local stockmarket is valued at a P/E of 14.9x on 2008 earnings which is at a discount of11.8% to its 8-year average of 16.9x. The market is also supported by a gross dividend yield of 4.3% which compares favourably to Ringgit fixed deposit rates for tenures of less than one year.

FORTNIGHTLY REGIONAL MARKETS COMMENTARY

Selected regional markets rebounded in tandem with higher U.S. marketson expectations that the worst of the global credit crisis may be over.

Indonesia’s inflation rate rose at the fastest pace in more than a year to 8.2% in March from 7.4% in February on higher food and housing costs.

In comparison, Thailand’s inflation rate eased to 5.3% in March from 5.4% in February on lower transportation costs.

The outlook for regional equity markets will continue to depend on the trend in oil prices, the interest rate cycle in each respective market and the outlook for U.S. economic growth, interest rates and developments in the U.S. sub-prime mortgage market.

STOCKMARKET COMMENTARY

For the week ended 4th April, most NorthAsian markets rebounded as investor sentiment improved following news ofthe recapitalisation plans of two major investment banks. The Hang Seng China Enterprise Index led with a rise of 5.7% as concerns over the U.S. credit crisis eased. However, the Shanghai Composite Index fell by 3.7% due to declines in property and financial stocks amid concerns of further monetary tightening measures. In South-East Asia, the Singapore market registered the biggest gain of4.1% as investor sentiment improved following a rebound in Wall Street over the week.

Indonesia’s inflation rate rose at the fastest pace in more than a year to 8.2% in March from 7.4% in February on higher food and housing costs. Indonesia’s export growth eased to 28.5% in February from 33.2% in January while import growth increased to 67.7% from 43.9% over the same period. The cumulative trade surplus for the first two months of 2008 narrowed by 8.4% to US$6.2 billion compared to the same period last year.

Thailand’s inflation rate eased to 5.3% in March from 5.4% in February on lower transportation costs. Meanwhile, the core inflation rate rose to 1.7% from 1.5% over the same period.

The outlook for regional equity markets will continue to depend on the trend in oil prices, the interest rate cycle in each respective market and the outlook for U.S. economic growth, interest rates and developments in the U.S. sub-prime mortgage market.

Week ended 28 March 2008

2008-03-31T10:12:00.002+08:00

WEEKLY HIGHLIGHTS

A rebound in regional markets helped the KLCI to rise and close at a 3-week high of 1,258.4 points to register a gain of 5.8% for the week.

Regional markets rebounded on bargain-hunting following losses in recent weeks.

The local market is expected to continue to take its cue from regional markets as investors monitor the outlook for economic growth and interest rates in the U.S.

STOCKMARKET COMMENTARY

The KLCI rose in tandem with the rebound in regional markets and closed at a 3-week high of 1,258.4 points to register a gain of 5.8% for the week.

Average daily trading volume increased to 0.9bil units from 0.6bil units while daily turnover in value terms rose toRM1.6bil from RM1.2bil in the previous week.

Regional markets rebounded on bargain hunting following losses in recent weeks. The China 'H' shares market led the gainers with the Hang Seng China Enterprise Index rising by 14.7% on gains in energy shares and selected stocks.

On Wall Street, share prices were volatile over the week. After rising to a 3-week high of 12,687.6 points early inthe week, the Dow retraced on concerns over the outlook for selected financial stocks. The Dow closed at 12,216 points for a loss of 1.2% for the week. TheNasdaq inched up by 0.1% to 2,261 points over the same period.

Consumer confidence in the U.S. as measured by the University of Michigan’s consumer sentiment index fell to a 16-year low of 69.5 in March from 69.9 in February due to aweakening job market, downturn in the housing market and higher inflationary pressures. Existing home sales increased by 2.9% month-on-month to 5.03 million units in February after contracting by 0.4% in January. However, new home sales fell by 1.8% month-on-month to 590,000 units in February after falling by 1.6% in January.

Crude oil prices rose toUS$107.38/barrel on Thursday amidst increased geopolitical concerns in theMiddle East before easing to close atUS$105.62/barrel, up 2.8% for the week.

On the regional front, Taiwan’s export growth rose to 18.5% in February from11.9% in January on higher exports of electronics and metal products. The Taiwan central bank raised its key policy rate by 12.5 basis points to 3.5% to contain inflationary pressures.

On the local front, Bank Negara expects Malaysia’s GDP growth to moderate to arange of 5-6% in 2008 compared to the Ministry of Finance’s earlier estimates of 6-6.5% due to the anticipated slowdown in the global economy. The central bank forecasts consumer spending growth to moderate to 6.5% in 2008 from 11.7% in 2007 while private investment growth is projected to slowto 6.3% in 2008 from 12.3% in 2007.

The Ringgit registered a weekly loss of 0.6% against the U.S. dollar to close at RM3.196 over concerns that a steeper than-expected slowdown in the U.S. economy could dampen Malaysia’s economy growth. On a year-to-date basis, the Ringgit appreciated by 3.5% against the greenback.

BOND MARKET COMMENTARY

For the fortnight ended 28th March 2008, the U.S. Treasury bond market closed on a mixed note following the weaker-than expected demand for the new supply of5-year Treasury securities coming ontothe market. The 3 and 5-year U.S.Treasury yields rose by 4 and 10 basis points (bps) to 1.52% and 2.50% respectively over the fortnight while the 10-year U.S. Treasury yields fell slightly by 3 bps to close at 3.44%.

The Malaysian Government Securities (MGS) weakened on concerns over the inflation rate, which reached a 12-month high of 2.7% for the month of February. The 3, 5 and 10-year MGS rose by between 1 bps and 4 bps to 3.42%, 3.51% and 3.77% respectively over the fortnight.

Trading on the local corporate bond market was quiet. The 3 and 5-yearAAA corporate bond yields remained unchanged at 4.00% and 4.50% respectively while the 10-year AAA corporate bond yield eased by 10 bps to 4.85% over the fortnight.

In the money market, the spread of the 3-month KLIBOR over the 3-month U.S. Treasury bill rate narrowed to 224 bps from 245 bps over the fortnight as the yield on the 3-month U.S. Treasury bill rose by 21 bps to 1.37%.

Sentiment on the U.S. Treasury bond market is expected to be cautious as theFederal Reserve’s continued easing of monetary policy has fuelled expectations of higher inflationary pressures. The Federal Reserve is expected to further reduce the Federal funds rate in the coming months to support economic growth.

On the fixed income front, the market is expected to remain underpinned by resilient demand for quality bonds and expectations of a strengthening Ringgit exchange rate against the U.S. dollar. However, bond investors are expected to maintain a cautious stance as they continue to monitor potential inflationary pressures amidst elevated food prices.