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Market Highlights
Economic Update
Tue, 20 Oct 2026 07:07 am
Malaysia External Trade - Upside surprise in exports

• Exports surged +54.5% YoY in September (Aug: +45.4%), while imports accelerated to +52.7% (Aug: +41.1%). The trade surplus widened to RM33.7bn (Aug: RM28.1bn).
• Manufacturing led export growth, while commodity exports improved.
• Sustained growth in intermediate imports points to robust manufacturing activity ahead.
• We raise our 2026 export growth forecast to +35.1% YoY (previously: +26.2%), reflecting stronger-than-expected YTD growth momentum.
• Downside risks include prolonged Middle East tensions and continued uncertainty surrounding US trade policy.

Economic Update
Tue, 20 Oct 2026 07:05 am
Malaysia Inflation Rate - Steady inflation; upside risks in 2027

• Headline inflation eased to +1.8% YoY in September (Aug: +1.9%), driven by slower price gains in electricity and food.
• Core inflation was steady at +1.7% YoY, pointing to subdued underlying price pressures.
• Targeted fuel subsidies should cushion the impact of higher energy prices on inflation.
• We revise our 2026 inflation forecast to +1.8% YoY (previously +2.0%), within the official projection range of 1.5-2.5%.
• We maintain our 2027 inflation forecast at +2.0% YoY (MoF: 1.8-2.8%) with upside risks.

Local Market Strategy
Mon, 19 Oct 2026 07:22 am
Post-Budget 2027 Strategy - Oil Is the Swing Factor; Stay Barbelled

What We Heard
Beyond the Speech. The Maybank–MUFG post-Budget 2027 dialogue on 16 October 2026, led by Treasury Secretary-General Tan Sri Johan Mahmood Merican alongside Maybank IB’s chief economist and MUFG representatives, offered several insights that were not covered in the Budget speech. None changes our call. We maintain our Neutral market stance, our end-2026 FBM KLCI target of 1,770 and our barbell strategy.

Technical Calls
Stock Research
Derivatives Market Performance
Sector Reports
Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.066848 4.098389
EUR 4.573345 4.576847
CNY 0.610768 0.611237
HKD 0.518416 0.521927
SGD 3.179278 3.200904
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