BENGALURU: Asian equities rebounded on Thursday following a sharp selloff in the last session, while Malaysian assets were little changed after the country’s central bank left its benchmark interest rate steady, as expected.
The Malaysian ringgit held steady after the central bank’s decision, trading 0.2 percent higher at a seven-week peak. The currency has strengthened 6.9 percent against the dollar so far this year, making it the best performer among regional peers.
Kuala Lumpur shares were little changed following the decision, showing minimal reaction in broader trading.
Bank Negara Malaysia (BNM) kept its benchmark interest rate unchanged at its final policy meeting of the year, amid subdued inflation and resilient economic growth.
“BNM has reaffirmed the positive outlook for the domestic economy. While tariffs still present challenges, there are other local supportive factors, including the 2026 budget, that could sustain growth,” said Lloyd Chan, a senior currency analyst at MUFG.
“We maintain our constructive outlook for Malaysia’s economy and expect the ringgit to strengthen further against the US dollar by end-year.”
Other stock markets in the region regained footing after worries over tech valuations sparked the steepest selloff in months in the last session.
Strong US private-sector data and upbeat earnings revived risk appetite on Thursday, with Wall Street’s overnight rebound on easing tech valuation fears lifting confidence across Asian markets.
Taiwan and South Korea stocks rose more than 1 percent and 2.7 percent, respectively.
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