Despite stronger-than-expected second-quarter GDP growth of 5.8%, developments in the Middle East weighed on market sentiment, says an analyst.
This was despite Malaysia’s stronger-than-expected advance gross domestic product (GDP) estimate for the second quarter of 2026.
At 6pm, the local currency depreciated to 4.0930/4.0990 against the greenback from Thursday’s close of 4.0710/4.0745.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Malaysia’s advance GDP estimate for the second quarter of 2026 came in above expectations at 5.8%, compared with the consensus forecast of 5.3%.
“Stronger growth indicated that the Malaysian economy remained resilient despite uncertainties surrounding fuel prices and the protectionist trade policies adopted by the United States.
“With average GDP growth for the first half of 2026 standing at 5.6%, Malaysia is expected to continue recording growth of around 5% for the full year,” he told Bernama.
The ringgit traded lower against a basket of major currencies at the close today.
It weakened versus the British pound to 5.5018/5.5099 from 5.4987/5.5034 at Thursday’s close, declined vis-a-vis the euro to 4.6824/4.6893 from 4.6678/4.6718, and depreciated against the Japanese yen to 2.5208/2.5246 from 2.5102/2.5125 previously.
Similarly, the local currency traded lower against regional currencies.
It eased versus the Singapore dollar to 3.1709/3.1758 from 3.1583/3.1612, and slid against the Indonesian rupiah to 228.4/228.8 from 226.3/226.6, at Thursday’s close.
It slipped vis-a-vis the Thai baht to 12.1743/12.1965 from 12.1247/12.1399, and weakened against the Philippine peso to 6.64/6.66 from 6.60/6.61 yesterday. - FMT
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