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Malaysia

Market Watch
Close of
September 19, 2018
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 3.478 2.0 3.1 ▲ 34.0
5 Year 3.781 3.0 6.5 ▲ 22.1
10 Year 4.106 1.7 6.4 ▲ 19.2

* Government bond yield changes are expressed in basis points.

More details

Currencies Latest Rate Previous Day Previous Week YTD
MYR per USD 4.144 0.0 ▲ 0.1 2.4
MYR per JPY 0.037 0.1 ▲ 1.0 2.8

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KLIBOR 3.190 ▲ 1.0 ▲ 1.0 ▲ 28.0
3M KLIBOR 3.690     0.0     0.0 ▲ 25.0

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
(25-Jan-2018)
Previous Rate
(9-Nov-2017)
YTD
Rate
Overnight Policy Rate 3.250 ▲ 25.0 ▲ 25.0

* Policy rate changes are expressed in basis point change.

More details

Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I A stable 2016-07-05
RAM A2 stable 2017-01-05
Non-Regional Rating Institutions
Fitch A- stable 2017-08-17
S&P A- stable 2017-06-22

More details

  • Size of LCY Bond Market
  • Size of LCY Bond Market in % of GDP
  • Monthly Bonds Outstanding in USD
  • FCY Bonds Outstanding
  • Issuance Volume of LCY Bond Market
  • Breakdown of LCY Government Bond Market Issuance
  • G3 Currency Bond Issuance
  • Government Securities Maturity Profile - LCY
  • Corporate Securities Maturity Profile - LCY
  • Investor Profile - Government Bonds
  • Foreign Holdings in LCY Government Bonds
  • Trading Volume
  • Bonds Turnover Ratio
  • Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
  • Yield Volatility - 10yr LCY Bonds
  • Credit Spread - LCY Corp. Bonds vs Govt. Bonds
  • iBoxx ABF Index Family
  • Bid-Ask Spreads (Survey data)
  • Government Bond Market Structural Issues
  • Corporate Bond Market Structural Issues

ASEAN+3 Bond Market Guide

ASEAN+3 Bond Market Guide 2016: Malaysia


ASEAN+3 Bond Market Guide is a comprehensive explanation of the region’s bond markets. It provides various information such as the history, legal and regulatory framework, speciic characteristics of the market, trading and transaction including settlement systems, and other relevant information. The Bond Market Guide 2016 for Malaysia is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Malaysia. The report should be recognized as a collective good to support bond market development among ASEAN+3 members.

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* Download previous issues PDF
2018 Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
2013 Nov Sep Jun Mar
2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary



Yield Movements

Malaysia’s local currency (LCY) government bond yield curve shifted upward for all tenors between 1 March and 15 May. Large increases were seen in tenors from 1 year to 5 years, with an average gain of 26 basis points. The upward trend in Malaysia’s local government bond yields during the review period was driven by a number of factors which includes: (1) rising global yields especially for United States Treasuries; (2) Bank Negara Malaysia’s interest rate hike in January which raised the overnight policy rate by 25 basis points to 3.25%; (3) and the unexpected outcome of the Malaysian general election which made investors cautious in setting their position on local bonds as they wait for more clarity from the new government on its policies.

Size and Composition

Malaysia’s LCY bond market continued to expand in the first quarter of 2018 on growth of 4.1% quarter-on-quarter (q-o-q), faster compared with the preceding quarter and the first quarter of 2017. Total LCY outstanding bonds amounted to MYR1,339 billion (USD347 billion) at the end of March, comprising of 53% government bonds and 47% corporate bonds. Both segments propelled the growth of the LCY bond market: outstanding government bonds posted a growth of 4.7% q-o-q and corporate bonds grew 3.5% q-o-q. Sukuk (Islamic bonds) continued to dominate Malaysia’s LCY bond market with a share of 59.4%.

Policy, Institutional and Regulatory Developments

Bursa Malaysia implemented the intraday short-selling (IDSS) framework on 16 April to boost liquidity in the local stock exchange. The measure is part of Bursa Malaysia’s efforts to build a dynamic and vibrant capital market that will further improve flexibility for investors to refine their trading and risk management strategies. The list of approved stocks for IDSS comprises 280 securities and the list will be reviewed every 6 months. Compliance requirements and safeguards will also be put into place that include market controls for IDSS suspensions if a stock price falls more than 15% from the previous day’s closing price or if the gross short-selling volume exceeds the daily maximum limit of 3% of outstanding shares per security.

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