The Government of Malaysia’s bonds owned by foreign investors, which shrank last September, may have another drop when withdrawals continue, Malaysia’s The Star newspaper reported on October 14.
Kuala Lumpur (VNA) – The Government of Malaysia’s bonds owned by foreign investors, which shrank last September, may have another drop when withdrawals co♔ntinue, Malaysia’s The Star newspaper reported on October 14.
Bloomberg’s data on October 13 showed that for the first time in the last 12 months, the value of Malaysia’s bonds owned by foreign investors fell 2.6 percent to 208.3 billion Ringgit (49.6 billion USD).
The capital withdrawal reflects foreign investors’ precaution of further interest rate cut by the Central Bank of Malaysia and the increase of interest rate by the United States’ Federal Reserve System (FED).
Experts said that this trend may continue until there is evident information of FED’s decision on interest rate at the end of year.
The scandal of the government-run fund 1Malaysia Development Berhad (1MDB) was also regarded as a cause of the withdrawal. Singapore, the US and Switzerland have investigated 1MDB and discovered signs of money laundering and embezzlement activities.-VNA
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Illustrative photo (Photo: Internet)
