KUALA LUMPUR: China has given an undertaking to buy Malaysian government bonds and will also be providing a 50 billion yuan (RM33bil) quota for local institutional funds to purchase equities and bonds directly in the world’s second largest economy.
In what are seen as measures that could boost Malaysia’s capital market and the ringgit in the longer term, the Asian powerhouse said that it would buy more Malaysian bonds, an action that will lend support to the ringgit should foreigners sell down as they brace for an upcoming rise in US interest rates.
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