Malaysia’s economy is hopping along, if the performance of its exchange traded fund (ETF) is any indication.
The iShares MSCI Malaysia (EWM) was up 7.7% last week. What’s going on?
The country’s currency, the ringgit, reached its strongest level since November 1997, Chan Tien Hin of Bloomberg reports. The key index, the Kuala Lumpur Composite Index, posted a fifth-straight record, stocks jumped higher and there was speculation that a possible early general election may drive even more gains.
Some say that Malaysia could be viewed as a safe haven while the United States economy works through its issues.
Meanwhile, according to Forbes,
Malaysia’s securities watchdog introduced an over-allotment option and
price stabilization for initial public offerings (IPOs) in the country.
That will allow issuers to sell investors more shares than originally
planning so that demand for an IPO can be met efficiently.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.