Malaysia's September exports rose 54.5% year-on-year against a 44.6% forecast, and inflation still eased to 1.8%. Jakarta stocks fell another 3.6% to below 5,000 before Wednesday's Bank Indonesia decision.
East Capital’s Emre Akcakmak says Jakarta’s 46% slide since January’s MSCI freeze has left Indonesian equities on a lost decade, with 12-month forward P/E now 7.6x versus a 16x average until the de-rating began. Source
On the surface, Malaysia's September trade data are an unqualified win. Exports rose 54.5% from a year earlier to RM215.1bn, the fastest since April 2021 and well ahead of a Reuters poll of 44.6% (previous 45.5%), according to the Department of Statistics Malaysia (DOSM). The trade surplus widened 64.9% to RM33.7bn, the 77th straight monthly surplus. Electrical and electronics (E&E) goods accounted for RM45.1bn of the export increase.
