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Malaysian financial market remains resilient

PETALING JAYA: The Malaysian financial market remains resilient and continues to function efficiently despite a challenging global economic environment from the Covid-19 pandemic, said the Financial Markets Association Malaysia.

The association said in the second quarter, Malaysia’s growth slowed to a pace of -17.1% year-on-year (y-o-y), in line with other regional peers following measures introduced to contain the spread of the pandemic.

Similar growth contractions were seen across Asian economies including Singapore, the Philippines and Indonesia, which recorded negative growth prints in the second quarter of -13.2%, -16.5% and -5.3% y-o-y respectively, it added.

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