Najib's Budget fails to cheer market

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.