PETALING JAYA: Fears of a recession in developed markets and expectations of a peak in interest rates have foreign funds flowing into Malaysian bonds, but out of local equities which could suffer earnings and valuation headwinds if business activities weaken.
Global investors hoping to lock in current rates ahead of a potential inflection point in the rate-hiking cycle by central banks in the second half of the year have been buying into Malaysian government securities (MGS) and government investment issues (GII).
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