Choppier growth for Asia in 2016: Nomura

Malaysia's growth is seen moderating to 4% in 2016 with a further 4.5% downside to the ringgit

Published Thu, Dec 10, 2015 · 09:50 PM

Kuala Lumpur

GLOBAL banking group Nomura is projecting even choppier growth in Asia ex-Japan next year with GDP (gross domestic product) expansion slowing further to a forecast 5.7 per cent as it faces structural headwinds especially those emanating from China's economic slowdown.

Malaysia's growth is seen moderating to 4 per cent in 2016 with a further 4.5 per cent downside to the ringgit (reaching 4.40 from about 4.20 at present).

Nomura is also projecting a US Federal Reserve interest rate hike "by next week, and two more by next year", its global head of equity strategy, Michael Kurtz, said at an Asia 2016 outlook briefing in Kuala Lumpur on Thursday. Over the next…