Economists have maintained their 2024 economic growth forecast for Malaysia at between 3.5% and 4.7% after Bank Negara Malaysia (BNM) announced first quarter gross domestic product (GDP) growth accelerated faster than expected.
Asian shares started the week by rallying two-year highs on Monday, buoyed by China's strongest measures yet to address its property crisis and by expectations for global rate cuts within weeks, while the dollar steadied after a weekly drop.
The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling.
Oil prices rose slightly in Asian trade on Monday as traders sought more information on rescue attempts for Iran’s President after a helicopter crash.
Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.
Chinese industrial production grew more than expected in April, indicating that a recovery in the country’s massive manufacturing sector remained on track amid increased government support.