Sukuk yield at August high as stocks gain

KUALA LUMPUR: Malaysia’s eight-year dollar sukuk rose to 3%, a level not seen since August, as an improving global economic outlook attracted investors to stocks.

The yield on the 4.646% notes due July 2021 has climbed 36 basis points this year after falling 116 basis points in 2012, according to data compiled by Bloomberg. The Bloomberg Malaysian Sukuk Ex-MYR Index of global Islamic debt declined 0.2%, while the MSCI Asia Pacific Index of equities rallied 3.3%.