Latest news with #GDP
The Star
35 minutes ago
- Business
- The Star
FBM KLCI ends higher, investors eye upcoming GDP release
KUALA LUMPUR: The FBM KLCI finished higher today, mirroring gains across regional markets as investors showed renewed confidence amid improving sentiment. However, dealers noted that cautiousness lingered ahead of key economic events, including the Statistics Department's upcoming release of advance GDP data for the second quarter on Friday and the looming tariff deadline. The FBM KLCI rose 9.44 points, or 0.62% to 1,520.94 after hitting an intraday high of 1,521.15. There were 547 gainers, 416 losers and 475 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.17 billion shares valued at RM2.5bil. Among the gainers, F&N rose 36 sen to RM29.02, Hong Leong Bank added 32 sen to RM19.30, Paragon gained 19 sen to RM2.87 and PETRONAS Chemicals climbed 13 sen to RM3.32. Malaysian Pacific Industries , the top loser on Bursa Malaysia, slid 38 sen to RM19.62. Kuala Lumpur Kepong lost 30 sen to RM20.16, Aeon Credit fell 17 sen to RM5.16 and Panasonic Manufacturing eased 14 sen to RM11. ACE Market debutant iCents Group jumped 41.67%, or 10 sen, to 34 sen, with 150.54 million shares traded. Stock market data showed foreign investors net sold RM173mil on Wednesday, while local institutions and retailers were net buyers at RM1mil and RM172mil, respectively. On the forex market, the ringgit was quoted at 4.2493 against the greenback, down 0.11%. It rose 0.02% against the euro to 4.9287, but fell 0.11% against the pound to 5.6941 and edged down 0.03% against the Singapore dollar to 3.3046. On the external front, Japan's Nikkei 225 climbed 0.6% to close at 39,901.19, while South Korea's Kospi rose 0.19% to end at 3,192.29. In contrast, Hong Kong's Hang Seng Index slipped 0.08% to 24,498.95. Meanwhile, Singapore's Straits Times Index advanced 0.71% to 4,161.43. In China, the CSI300 Index gained 0.68% to 4,034.49, and the Shanghai Composite Index added 0.4% to finish at 3,516.83.
Wall Street Journal
40 minutes ago
- Business
- Wall Street Journal
Eurozone Countries Will Find Buyers as They Increase Debt, But at a Cost
Eurozone countries should find plenty of buyers as their debt issuance increases, albeit at a higher cost and tilted more towards shorter-dated bonds, analysts said. Government bond supply is set to grow after North Atlantic Treaty Organization allies agreed to raise defense spending to 5% of GDP by 2035 from 2% now, with only Spain getting an opt-out. The eurozone's stable political backdrop and slowly recovering economy are expected to attract investors, with demand already strong.
Wall Street Journal
40 minutes ago
- Business
- Wall Street Journal
China's Solid Economic First Half Will Be a Tough Act to Follow
China's economy performed better than expected in the first half of the year, but analysts say maintaining that momentum will be a challenge in the months ahead. According to official data, gross domestic product grew 5.2% in the second quarter from a year earlier, bringing first-half growth to 5.3%. Beijing has set a 2025 growth target of around 5%.
Zawya
3 hours ago
- Business
- Zawya
IMF adjusts Egypt's primary balance surplus for FY2025/26 downward at 4% of GDP
Arab Finance: Egypt's primary balance surplus, excluding divestment proceeds, is expected to reach 4% of gross domestic product (GDP) in fiscal year (FY) 2025/2026, the International Monetary Fund (IMF) said in its latest report. The projection is 0.5% lower than the previous program commitments. However, the IMF projects the primary balance surplus to rise to 5% of GDP in FY 2026/2027. The debt-to-GDP ratio is forecast to follow a downward trajectory. This is driven by primary surpluses being sustained, favorable interest-growth differentials persisting, and half of aggregate divestment inflows continue to be allocated to debt reduction. The IMF commented: 'The progress toward fiscal consolidation in the first half (H1) of FY2024/2025 was less strong than initially projected under the program despite strong growth in tax revenue collections.' 'The authorities are taking steps to contain spending in the second half of the fiscal year, to ensure that the end-year fiscal target for FY 2024/2025 is met,' the fund added. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Free Malaysia Today
6 hours ago
- Business
- Free Malaysia Today
Malaysia to miss fiscal deficit target this year, says BMI
BMI, a Fitch Solutions company, has predicted that economic growth will moderate to 4.2% this year. (Envato Elements pic) PETALING JAYA : Malaysia will likely miss its fiscal deficit target this year, as spending is seen exceeding projections and revenue may fall, according to BMI, a Fitch Solutions company. 'Malaysia's budget gap will narrow to 4% of gross domestic product (GDP) from 4.1% last year,' BMI said in a report. 'That misses the official target of 3.8% of GDP and will delay policymakers' goal of bringing down the deficit to 3% by 2028,' it added. A failure to meet the target would be a setback for Malaysia, which has the highest credit rating among developing nations in Southeast Asia. On July 8, S&P Global Ratings warned that tariffs and trade wars have increased risks for Asia-Pacific sovereign ratings. BMI forecasted revenue to amount to 16.4% of GDP in 2025, down from 16.8% in 2024, as subdued economic activity limits tax collection. BMI has predicted that economic growth will moderate to 4.2% this year. 'That compares with the official forecast of 4.5% to 5.5% economic growth, which is under review. 'Petroleum-related revenue is also expected to undershoot the budget,' it said. The government will see more pressure to further subsidise utility costs following the 14% increase in electricity tariffs that took effect July 1, according to BMI. 'There have also been scant details about the government's plans to cut subsidies for RON95, the country's most popular gasoline,' it noted. 'We suspect policymakers will overshoot planned expenditure in 2025, as they have consistently done so in recent years,' it said.
