MALAYSIA: Country Wrap:  Malaysia to Record Steady Growth in 2025.

Recent flow in the TYH5 106.50 puts saw paper pay 0-07 on 20K

• Manufacturing PMI’s Dip into Contraction.  January PMI Manufacturing disappointed slipping to 49.1 from 50.1 in December.  January PMI non- Manufacturing disappointed slipping to 50.2 from 52.2 in December.  Both readings were below market expectations. (source: MNI – Market News)
• Industrial profits’ drop in December of -3.3% signifies are third year for deflation for Chinese corporates and likely will feed into the bond rally in the near term.  Despite the YoY figure rose 11%. (source: MNI – Market News)
• Hang Seng leads the way up +0.84%, despite early gains the CSI300 has now turned negative at -0.10%, Shanghai +0.09% and Shenzhen at -0.90%.
• CNY: USD/CNY fixing printed at 7.1698 versus a Bloomberg consensus of 7.2451.
• Bonds rallied post industrial profit numbers CGB 10YR -3bp today at 1.63%

• Following the news last week of new measures to encourage equity investment, and mixed economic data, most China markets continued to rally ahead of the Lunar New Year holiday.
• Hang Seng lead the way again up +0.95%, CSI 300 +0.13%, Shanghai +0.30% and Shenzhen was the outlier down -0.60%.  Taiwan had a good day up +0.9%
• Malaysia’s FTSE KLCI had a tough finish to the end of last week and continued in a similar trend today down -0.34%.
• Korea’s KOSPI had the dual impact of news that the president is being charged and the impact that DeepSeek is having on tech markets, yet the KOSPI was up +0.85%.
• India’s NIFTY 50 is opening up weak, down -0.97%.
• With Jakarta out, Singapore and Thailand were both marginally weaker, down -0.20%