KUALA LUMPUR: The Goverment's commitment to continue reducing the fiscal deficit further to 4% of gross domestic product (GDP) next year from 4.5% currently will reaffirm the country's sovereign rating and boosting the appreciation of the ringgit and local equity market.
Kenanga Research, in a note yesterday, said it believed that there was no widespread impact on the entire equity market as there was no announcement on corporate tax cut.
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