Growth trajectory intact in 2H24

Quick Summary:

The economy is expected to chart a stable outlook in the second half of 2024 (2H24) underpinned by the progress made on blueprints, the investment upcycle and a firmer ringgit while a pivot by the US Federal Reserve (Fed) could encourage fund inflows, say fund managers.

This has led HSBC Bank Malaysia to forecast the local benchmark to end 2024 at 1,680 points, supported by a sustained growth of the economy.

Maybank IB continues to project for the ringgit to end the year firmer at RM4.60 against the greenback, supported by Bank Negara’s foreign exchange (FX) market interventions and repatriate-and-convert measure.“The ringgit has been trading below RM4.70 against the US dollar for almost two weeks already.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIndonesiaPhilippinesSingaporeThailand

Topics: EconomicOutlook InvestmentGrowth FederalReserve Economy RinggitStrength FundInflows /Business/Business News AsianEquities MalaysianEconomy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 00:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1105 words

Reading Time: 7 minutes read

Sentences: 27 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21755858

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 44 posts per day

Year Established: 1971

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News Last Updated: 57 minutes ago

Coverage Areas: Malaysia

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