Najib's Budget fails to cheer market
Analysts see incremental handouts having limited impact amid headwinds facing Malaysia
Kuala Lumpur
DESPITE many giveaways, Malaysia's stock market found little to cheer in Budget 2016 as investors and consumers remained cautious whether the incremental handouts would be sufficient in the face of internal and external headwinds.
The budget, themed "Prospering the People" and billed as the most difficult for Prime Minister Najib Razak because a number of key economic objectives had to be balanced in spite of fiscal constraint, failed to lift the stock market on Monday as it closed 0.24 per cent lower with losers outpacing gainers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results