Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 23 Jan 2020, 9:15 AM

 

BNM International Reserves - Marginal decline of USD0.02b in November

Author:   |    Publish date:


● Bank Negara Malaysia (BNM) international reserves registered a marginal decline of USD0.02b and remained relatively unchanged at USD103.2b as at 29th November

  •  Sufficient to finance 7.7 months of retained imports and is 1.1 times the total short-term external debt.

All components remained unchanged

  •  Foreign currency reserves at USD96.8b, a 3-month high.
  •  Other reserve assets: USD2.3b, matched the highest level recorded in 2019.
  •  Gold: USD1.9b, a 78-month high
  •  In Ringgit terms, the value of BNM reserves decreased by RM0.2b or -0.05% MoM to RM432.0b USDMYR: traded at an average of RM4.1590 in November (Oct: RM4.1879), a 4-month high, appreciating by 0.7% MoM (Oct: -0.1%), underpinned by optimism in the US-China phase-one trade deal.
  • Year-to-date, Ringgit has depreciated by 0.7% against the greenback, while the majority of regional currencies bucked the trend, led by the Thai Baht (+6.6%), followed by Philippines peso (+3.5%) and Indonesian Rupiah (+2.8%).

BNM left the overnight policy rate unchanged at 3.0% for the rest of the year but may lean towards further easing as soon as in 1Q20 to support growth in view of external demand uncertainty going forward

  • Uncertainty over the US-China trade feud may continue to exert pressure on domestic growth. While benign inflation attributable to lower base effect and lacklustre demand may provide room for the central bank to embark on another rate cut.
  • USDMYR year-end forecast: maintained at of 4.20 (2018: 4.13), amid sustained portfolio capital outflow, and lower oil price (average YTD Brent price 2019: USD64.1/barrel vs USD71.6/barrel in 2018) but will be supported by increased current account surplus due to healthy trade balance.

Source: Kenanga Research - 9 Dec 2019

Share this

  Be the first to like this.
 


 

308  374  520  783 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 PWRWELL 0.29+0.005 
 MTOUCHE-WC 0.01-0.015 
 HSI-H8K 0.195+0.06 
 DGB 0.13-0.005 
 MTOUCHE 0.17-0.005 
 HSI-C7K 0.275-0.12 
 VC 0.075-0.01 
 SAPNRG 0.27+0.005 
 XDL-WD 0.015-0.005 
 XDL 0.16-0.005 

FEATURED POSTS

1. Leveraged & Inverse ETF CMS

TOP ARTICLES

1. Bank Negara MPC cuts OPR by 25bp to 2.75% save malaysia!!!
2. 【科技成长股】INARI AMERTRON BERHAD – One of EMS Industries Benefit from Cadence and Broadcom Collaboration. 【科技成长股】INARI AMERTRON BERHAD – Benefit from Cadence and Broadcom Collaboration. What Next?
3. China will keep buying our palm oil, Darell Leiking says save malaysia!!!
4. Dayang: Only fools will sell - Koon Yew Yin Koon Yew Yin's Blog
5. Notion Vtec Berhad – PART I - by Davidtslim: A high precision metal parts Specialist who rides on Electronic Manufacturing Services (“EMS”) Davidtslim sharing
6. 4大手套股发“灾难财” 星洲日報/投資致富‧企業故事
7. Top Glove and Supermax: Potential Beneficiaries Amid Coronavirus Outbreak KL Trader Investment Research Articles
8. 不是叫你买股 - NOTION篇,火后凤凰? 作者 JC JC
Partners & Brokers