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The U.S. Federal Reserve's recent interest rate cuts are expected to benefit Southeast Asian economies, particularly Indonesia and Thailand, by boosting portfolio inflows and commodity prices. Central banks in these countries are likely to follow the Fed's lead, with Indonesia already cutting rates for the first time in three years. The Thai baht has strengthened, prompting calls for further rate cuts to stimulate investment and address high household debt.
Malaysia's currency is poised for its largest monthly decline since 2015, with the ringgit down over 6% against the dollar in October. As of Wednesday, it traded at 4.39 per dollar, reflecting investor caution amid uncertainties surrounding the US election.
Cuckoo Holdings Co.'s Malaysian unit plans to raise up to 750 million ringgit ($172 million) through an initial public offering in Kuala Lumpur next year. The listing could value Cuckoo International (Mal) Sdn. at approximately 3 billion ringgit, though details may change.
The Swiss stock market opened lower on Thursday, influenced by a slowdown in consumer price inflation, which rose by 0.8% year-on-year in September. The leading SMI index fell by 0.20%, with 25 of the 30 major stocks declining, while Sandoz, Novartis, and Givaudan were among the few gainers. Analysts anticipate a potential rate cut by the Swiss National Bank in December 2024 due to declining inflation forecasts.
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southeast asian economies poised for growth amid us federal reserve rate cuts
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