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Showing posts with label credible information. knowledge. Show all posts
Showing posts with label credible information. knowledge. Show all posts

Saturday, November 12, 2022

Inhalable CanSino vaccine rolled out

Take a deep breath: A health worker administering a dose of CanSino Biologics inhalable Covid-19 vaccine in Lianyungang in China’s eastern Jiangsu province. — AFP



CanSino Biologics’ inhalable Covid-19 vaccine. Photo: Shanghai Media Group via AP

BEIJING: Residents in the capital can start making appointments for an inhalable Covid-19 booster made by CanSino Biologics, media reported, while those in Tianjin city can now get it as the Chinese pharmaceutical firm distributes more supplies.

CanSino’s vaccine, called Convidecia Air, is an aerosol version of an inactive shot and was approved as an emergency-use booster by Chinese health authorities in September.

The financial hub of Shanghai and 13 cities in the eastern province of Jiangsu have already introduced the CanSino vaccine as a booster, the company had said.

Appointments for the vaccine in the capital can be booked on a mobile phone app for residents of one district, the official Beijing Business Daily reported yesterday.

Increasing the uptake of vaccinations is vital for China, which is sticking resolutely to its strict zero-Covid policy that aims to prevent large-scale outbreaks and fatalities, especially among the elderly.

China has relied on domestically produced, inactivated shots and has yet to import, or introduce its own version of an mRNA vaccine.

According to official data, more than 90% of China’s population has been vaccinated. StarPicks Tired of smudges, dirt and scratches on your lens getting in the way of clear vision?

Regarding the efficacy of its vaccine, Hong Kong-listed CanSino said in a statement on Wednesday that studies showed “using Convidecia Air as a heterologous booster generated much stronger immune responses than those induced by a homologous inactivated vaccine booster”.

The vaccine will be available in Tianjin from Thursday, it said.

The Hong Kong shares of CanSino rose as much as 11.8% to HK$119.80 on Thursday, their biggest gain since Nov 4. — Reuters 

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Wednesday, July 27, 2022

CHINA ADDS SECOND SCIENCE LABORATORY TO ORBITING SPACE STATION

 28 countries applied to join the China space station, why is only the US rejected?

 The China space station is about to be completed. The United States claims to be censoring the China space station. What secrets are hidden behind this? The United States stated: To review China's space station, China can cooperate with the United States only if it meets American standards. This remark really shocked everyone. Why should the space station developed by China be reviewed by others? What's more, should this be the other way around? What's more, shouldn't the United States hope to reach cooperation with the Chinese space station, rather than China begging the United States to participate in cooperation? So, how does China respond to the U.S. rhetoric? 


Before the end of this year, China will complete the construction of the space station. The Chinese Space Administration has announced that the Chinese space station will be open to countries around the world. Now 17 countries have become the first partners of the Chinese space station (including India), and they will board the Chinese space station for scientific research and exploration. Of course, the US is the only exception.

The United States has been clamoring for fierce competition with China, and China is now showing the United States what true competition is in all areas. 

 

 Shenzhou-14 crew enters Wentian lab module, as China's space station is near completion

 

The Shenzhou-14 crew members, Chen Dong (center), Liu Yang (right) and Cai Xuzhe salute from the Wentian (Quest to The Heavens) lab module on July 25, 2022 from some 400 kilometers above the Earth. The three taikonauts checked in to their office and home unit in space at 10:03 am. Photo: cnsphoto

The Shenzhou-14 crew of three taikonauts, who watched live the epic launch of the Wentian [Quest to The Heavens] lab module from some 400 kilometers above the Earth and cheered it on with applause on Sunday, did not wait long to check into their office and home unit in space, as they opened the gate of the freshly docked new module and entered the Wentian at 10:03 am on Monday, the Global Times learned from the China Manned Space Agency (CMSA).

It was a historic first that the taikonauts entered the scientific lab module in orbit, the CMSA noted in a statement it provided to the Global Times on Monday morning, while disclosing that the crew shall execute missions including space station combination attitude control, verification of robotic arms, and use of the Wentian airlock and its small robotic arm to perform spacewalks under the plan.

The Wentian lab module conducted a smooth rendezvous and docking with the China Space Station's Tianhe core module at the front port at 3:13 am on Monday, some 13 hours after it was launched via a giant Long March-5B carrier rocket from South China's tropical island province of Hainan.

It was a first for two pieces of 20-ton level spacecraft to execute the "heavenly kiss" in the country's history, and it also marked an unprecedented milestone event that took place while the China Space Station combination was carrying taikonauts onboard, the CMSA announced.

Before China, only the former Soviet Union and the US were capable of assembling ultra-large spacecraft in orbit.

Designed mainly to support space science and biology experiments, the 23-ton Wentian lab module is heavier than any other single-module spacecraft currently in space, including those with the International Space Station (ISS), the Global Times learned from the mission contractor, the state-owned space giant China Aerospace Science and Technology Corp (CASC).

The Wentian also hosts eight experimental cabinets onboard. It will mainly focus on the study of space life sciences, which can support the growth, development, genetics and aging of multiple species of plants, animals and microorganisms under space conditions, Lü Congmin, a research fellow at the Chinese Academy of Sciences and deputy chief designer of the space utilization system of China Manned Space programs, told the Global Times.

More than 10 research directions have been planned and more than 40 scientific projects have been established for the Wentian, Lü said.

To meet the high energy requirements for the large number of scientific experiments in space, the Wentian is equipped with a pair of the largest flexible solar panels that the country has ever developed.

The full wingspan of the solar panels on the Wentian is more than 55 meters, longer than half a soccer field, and each panel has an unfolded area of about 110 square meters. Photo: Courtesy of CASC

The full wingspan of the solar panels on the Wentian is more than 55 meters, longer than half a soccer field, setting a new record for solar panels used for China's spacecraft. Each panel has an unfolded area of about 110 square meters, the Global Times learned from the developers.

The two solar panels will effectively collect more solar energy, generating an average of more than 430 kilowatt hours per day and providing sufficient power for space station operations. If placed on Earth, the daily power generation of the solar panels would be enough to support the power demand of an average Beijing household for a month and a half.

During the "heavenly kiss," the enormous wings of the Wentian unfolded in two stages by plan, where the solar panels were only partially unfolded to sustain the power supply needed during the docking and became fully unfolded afterwards, which was done to avoid any damage from the impact of two giant modules with fully unfolded wings.

Explaining to the Global Times, the solar panel system developer, the Shanghai Academy of Spacecraft Technology, said that if the Wentian's wings were unfolded all at once, it would be approaching the Tianhe core module with one giant sail on each side. In that case, even trivial shaking of the sail would affect the control precision of the velocity, relative location and attitude control of the Wentian, so that it would add difficulties to its safe rendezvous and docking with the Tianhe module.

The Global Times learned from the Second Academy of the China Aerospace Science and Industry Corp (CASIC) that microwave radar developed by the academy's 25th institute also played a guiding role in the rendezvous and docking process.

Also, the Wentian is equipped with a urine recycling system developed by the CASIC's second academy Institute 206, the second of its kind onboard the China Space Station combination. The first was installed on the Tianhe core module and successfully supported the space stays of the Shenzhou-12 and -13 crews. The urine recycling system on the Wentian will serve as a backup for the Tianhe, the CASIC told the Global Times.

According to the official plan, the Mengtian, another space lab, will be launched in October.

And before that, the Wentian will move to the right side of the Tianhe core cabin, forming an L-shaped structure, China Space News, the official joint news outlet of the China Aerospace Science and the Technology Corp and the China Academy of Space Technology, reported. For this to happen, the Shenzhou-14 taikonauts will perform three complex steering maneuvers to adjust the Wentian to a vertical position with the help of the robotic arm.

In the coming months, people on Earth will be able to witness the construction of the China Space Station, which will be completed at a speed that has no precedent in mankind's history.

The first ever space station in history, the Salyut 1, launched by the former Soviet Union, had its core module delivered into orbit in 1986. In 10 years' time, the station completed the assembly of six modules with a total weight of 130 tons.

Construction began on the ISS in 1998 and took 12 years, with the coordination of 15 countries, to build its 15-module structure.

The China Space Station is planned to become fully operational before the end of 2022, aiming to accomplish the in-orbit assembly of the country's most ambitious program in less than one year and a half since the launch of the Tianhe core module in April 2021. 

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Science
A recent report by US magazine The National Interest demonized China's achievements in space by interpreting China's space exploration missions, including the lunar program and manned spaceflight, as "threats to US leadership in space" and a "detriment to US national security." This report is just the tip of iceberg in the US' sustained attempts to suppress and discredit China's space program. The US has also published military reports that incorrectly describe China's military capabilities in space, with the new NASA chief personally slandering China's space achievements, to promote the mindset of a new Cold War in space and the "China threat" theory. But facts show that the US is the biggest threat in space with its space hegemony based on its technological advantages. Meanwhile, China sees space as a new field to expand international cooperation while sharing its achievements with other countries by providing them with opportunities to make use of space resources.
 

 

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Tuesday, July 19, 2022

Rush for fourth shot as Covid-19 cases rise

 

Staying protected: Leow Pui Ling, 28, getting her second booster shot at iHEAL Medical Centre in Kuala Lumpur. — FAIHAN GHANI/The Star

 

PETALING JAYA: There has been a 51% increase in the number of people being vaccinated over the last two weeks, as new Omicron sub-variants create fears of another Covid-19 wave.

According to figures from ProtectHealth, vaccination went up from 38,822 during the week of June 27-July 3 to 50,774 during the week of July 4-July 10, a 31% increase.

ALSO READ:Better safe than sorry, say those getting second booster

From the week of July 11-July 17, there was a 51% increase to 76,433.

As infections and hospitalisations rise across the country, health experts are also calling for Malaysians, especially those over 60 as well as the medically vulnerable, to get their second booster shot.

This is because the Omicron sub-variants are highly contagious and can bypass immunity from a past infection or vaccination.

Public health expert Prof Dr Moy Foong Ming of Universiti Malaya said the Omicron sub-variant BA.5 could evade antibody responses in people with previous Covid-19 infection and those who had been fully vaccinated and boosted.

“Reinfections may be inevitable but boosters will help provide protection against severe symptoms, hospitalisation and even death.

“Even though the BA.5 does not seem to cause more severe symptoms compared to BA.1 and BA.2, the elderly and vulnerable groups will likely experience severe symptoms,” Prof Moy said.

She cautioned that if the total caseload increases tremendously, even with a low percentage of hospitalisation, the number will be a huge burden on the healthcare system.

“We don’t want to lose precious lives if it can be prevented,” she said.

For those below 60, it may not be necessary to take the second booster at this moment.

“If this group of individuals had received their third dose, they should be well protected from severe symptoms,” said Prof Moy.

“When new vaccines are able to bring a stronger immune response against all new variants, then a second booster may be offered to all.”

Prof Moy also said Malaysians should consider taking a flu shot if they were in the high-risk group, especially those aged 65 and above, and with chronic health conditions such as diabetes and weakened immune system.

Public health expert Prof Dr Sharifa Ezat Wan Puteh of Universiti Kebangsaan Malaysia said sub-variants BA.4 and BA.5 were known to evade immunity, hence breakthrough infections could occur.

“The risk will be reduced if you obtain another booster,” she said.

“The elderly, immunocompromised, as well as people with morbidities and frontliners should be prioritised for a second booster. But now, even those who are young and have received only two doses should get a third jab,” she said.

Prof Sharifa Ezat also reminded the public to get tested for Covid-19 and influenza if symptomatic, as these can mimic each other and it is possible to get infected with both.

“This impedes recovery. If possible, get vaccinated against both,” she said.

“The government should work on obtaining supply for flu tests and pushing the flu vaccine price down.”

Volunteers For Community Engagement and Empowerment For Covid-19 chairman Datuk Dr Zainal Ariffin Omar reminded Malaysians to continue with good personal health practices such as wearing a face mask, avoiding crowded places, self-testing and quarantining if positive with Covid-19, as well as observing a good diet. 

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Saturday, July 9, 2022

Latest Covid-19 Omicron BA.5 variant has landed Malaysia! Understanding the Omicron BA.5 subvariant

 

Malaysia entering new Covid-19 wave as Omicron BA.5 variant hits

Malaysia is entering a new Covid-19 wave, with the Omicron BA.5 variant already present in the country.

Health Minister Khairy Jamaluddin said the ministry had already detected five BA.5 variants through genomic sequencing as of June 30.

"This means that BA.5 is already present in the country. These cases were found through genomic sequencing on positive cases between May and June.

"There is a big possibility that BA.5 has already spread widely in Malaysia," he told a press conference at Parliament today.

Meanwhile, Khairy said the country has seen a 31 per cent increase in Covid-19 cases from July 3 to 7.

He informed that hospitalisations had also increased by 13.7 per cent, from 835 patients last week to 968 patients this week.

"A majority of the cases are in categories one and two. This is something that we have expected," he said.

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KUALA LUMPUR: Five cases of the fast-spreading Covid-19 Omicron BA.5 variant have been detected in the country, says Health Minister Khairy Jamaluddin.

He warned the public that the ministry expected the number of Covid-19 cases to rise in the next few weeks as the newer Omicron variants spread easily.

ALSO READ: KJ: We may issue compounds if cases spike

Apart from these five cases, other cases of Omicron sub-lineage variants that have been detected were six cases of BA.2.12.1 and two incidents of BA.5.2.

“All these cases were detected between May and June. However, there are no cases of sub-lineage Omicron BA.4 recorded so far.

ALSO READ: Bracing for another wave of Covid-19 infections

“We are expecting that new infections will increase due to Omicron BA.4 and BA.5, especially the BA.5. This is because Omicron BA.5 spreads easily compared with previous Omicron variants BA.1 and BA.2,” he told a press conference here yesterday.

Khairy said the new Covid-19 wave should not be taken lightly as 4,020 cases were reported just on July 7.

ALSO READ: Many having second thoughts on second booster

From July 3 to 7, the ministry had already recorded 14,967 cases, which is an increase of 31% compared with the previous week’s 11,394 cases, he added.

There was also a 13.7% increase in hospital admissions to 968 patients during this period from the 835 patients in the previous week. Ten deaths were recorded.

He added that those who have completed their Covid-19 vaccination or had been infected previously could also be infected with this variant.

“Those who have not taken their booster, especially senior citizens and people who have comorbidities, should get their booster shot, as it is vital against the new wave of Omicron BA.5.

“A total of 7,393,199 (31.40%) people have not taken their first booster shot while 151,018 (6.06%) individuals have received their second booster shot as at July 7,” he said.

Khairy also said that the ministry’s technical committee was still looking into the need for a second booster shot among those aged 60 and below without any illnesses, while vaccination for those aged five years and below was still not recommended.

However, he said there were some people who used a loophole with the excuse of travelling to get a second booster shot.

The second booster is available free of charge at registered private vaccination centres listed at https://vaksincovid.protecthealth.com.my/find.

For those aged 18 to 59 in the immunocompromised category, Khairy advised they undergo an evaluation first before getting the second booster shot.

He also said that as at July 3, 4,001 patients who have taken the Paxlovid antiviral medicine showed no serious side effects. 

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Understanding the Omicron BA.5 subvariant

 

Malaysia is seeing a wave of new Covid-19 infections ever since two Omicron sub-lineage variants were first detected in the country last month.

The Omicron BA.5 sub-lineage has been pushing up cases everywhere from the United States to nearby Singapore.

According to the World Health Organisation (WHO) in its weekly epidemiological update on July 6, the BA.5 is present in 83 countries.

“Although BA.4 is also rising globally, the rate of increase is not as high as that of BA.5.

“BA.4 has been detected in 73 countries, and now accounts for 12% of all sequences submitted during week 25 (up from 11% in the previous week).

“BA.4 and BA.5 share similar mutations in SARS-CoV-2 spike but have different mutations in non-spike regions,” it said.

There is no evidence yet regarding any change in severity with BA.4, BA.5 or BA.2.12.1 as compared to BA.2. StarPicks APU grads are media and communication experts of the future

However, the rise in the prevalence of these three sub-lineages had coincided with an increase in cases in several WHO regions.

“In some countries, the rise in cases also resulted in a surge in hospitalisation, ICU admissions and deaths,” WHO said.

While studies are still being conducted, early data has shown that the BA.5 could be the most contagious variant so far.

A study in the New England Journal of Medicine, published on July 7, found that the three subvariants substantially “escape” neutralising antibodies from vaccination and infection.

“Moreover, neutralising antibody titers against the BA.4 or BA.5 subvariant and (to a lesser extent) against the BA.2.12.1 subvariant were lower than titers against the BA.1 and BA.2 subvariants, which suggests that the SARS-CoV-2 Omicron variant has continued to evolve with increasing neutralisation escape,” according to the study titled “Neutralisation Escape by SARS-CoV-2 Omicron Subvariants BA.2.12.1, BA.4, and BA.5”.

Reports suggest that the variants’ ability to evade immunity vaccines may cause a surge in infections.

Fever, runny nose, cough, sore throat, headaches, muscle pain and fatigue are some of the symptoms.

Health Minister Khairy Jamaluddin said on Friday that Covid-19 infections could increase, especially those caused by BA.5.

BA.5 was first detected in South Africa in February.

It has since become the dominant variant in driving infections up in the United States and most parts of Europe.

Last week, the Centers for Disease Control and Prevention said that BA.4 and BA.5 were estimated to make up a combined 70.1% of the variants in the United States as of July 2.

In Singapore, its Health Minister Ong Ye Kung said on July 5 that about half of the new cases in the republic were due to the BA.4 and BA.5 subvariants. He estimated that this could go up to 80% this week.

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Financial literacy and bankruptcy

 

Stretching your ringgit: The importance of knowledge in this space cannot be more timely, especially when Malaysians are doing their level best to stretch their ringgit in order to cope with the increasing cost of living from inflationary pressures, which are spiralling out of control.

It is not enough to be good at your job. Managing your money well is as important as having good hygiene.

Lack of financial discipline reasons for bankruptcy

Using a credit card or apps wisely to accumulate points for future spending, waiting for bargains such as free shipping options or vouchers on ecommerce platforms on special days of the months to purchase necessities are just a few examples of being financially aware. 

FINANCIAL literacy is an important agenda for a country’s economic well-being.

Most governments around the world would like for their citizens to be financially literate, be it entrepreneurs, working professionals, white collar or blue collar workers.

It is not enough to be good at your job. Managing your money well is as important as having good hygiene.

Recently, the Malaysia Department of Insolvency (MDI) reported that 287,411 people in the country have been declared bankrupt as of March 2022.

Between 2018 and May 2022, there was an increase of 46,132 new bankruptcy cases.

Of this number, 59% (amounting to 27,365) of the bankrupt were aged below 44.

This led to the Prime Minister highlighting his concern on youth bankruptcy and requesting for the relevant authorities to look into this matter including potentially revamping the laws on insolvency.

It is important to note that due to the pandemic, our government has in fact raised the threshold of bankruptcy from RM50,000 to RM100,000 in 2020.

Many legal actions against defaulters of loans were also postponed due to the effects of the pandemic.

Personal loan main reason for default

Diving into the MDI’S statistics, I realised that the main reason for bankruptcy was due to default of personal loans with an overwhelming percentage at 42%, followed by hire-purchase loans (15%) and business loans (13.5%).

Personal loans have often been touted to charge exorbitant interest rates, especially credit card schemes.

A simple illustration: when month end comes, there are often three options to settle your credit card bill, namely statement balance, outstanding sum or minimum sum.

The right thing to do would be to settle the statement balance. Settling the outstanding sum in full means that the credit card user is paying down the credit card debts which isn’t yet due, which defy the purpose of utilising credit card in the first place.

Paying only the minimum sum, which many people often do, would lead to one incurring high interest on the outstanding credit card debt.

This would snowball to levels which are highly exorbitant.

The statistics above is telling because it shows that excess consumption pattern is a key reason for bankruptcy.

In terms of youth bankruptcy, it makes sense especially with social media propagating binge spending, splurging on luxury goods and the shallow mindset of keeping up with the Joneses.

Living beyond one’s means owing to social pressure simply isn’t going to go out of fashion, more so in today’s digital age.

Proliferation of get-rich-quick schemes and scams

There is no doubt the lack of financial discipline and bad spending habits are reasons which contribute to this social issue.

However, I believe another major contributing factor is the increasing number of scams and get-rich-quick schemes. These schemes often tap on the most vulnerable segment of the society, namely those who are greedy, desperate or naive.

Greed is one of human nature’s biggest weaknesses. Despite the evolution of mankind, this primal instinct has continued to flow through the DNA of mankind. I do not doubt the importance of greed as a driver for progress, but too much and it becomes fatal.

Desperation, especially in the case of hardcore poverty or extreme emergency without anyone to rely on, there is hardly any choice to seek help.

We have seen this episode played out, especially in the times of economic recession, high unemployment not unlike the period of pandemic we have all been through recently.

Of the three, the most addressable would be the one who is naive, in short, one who lacks the necessary knowledge.

Stretching your ringgit

The importance of knowledge in this space cannot be more timely, especially when Malaysians are doing their level best to stretch their ringgit in order to cope with the increasing cost of living from inflationary pressures, which are spiralling out of control.

I would like to put it on record: Accumulating financial knowledge does not mean becoming an investment prodigy. It can be as simple as understanding the various options for people to stretch their money.

One of the most common savings hacks would be to channel your monthly salary to a “flexi” or “semi-flexi” home loan account. This simple gesture every month automatically lowers the interest on the loan to be incurred.

Your unused funds will be utilised to further reduce the principal and interest while you have the option to withdraw the excess amount if you require to use the funds.

Using a credit card or apps wisely to accumulate points for future spending, waiting for bargains such as free shipping options or vouchers on ecommerce platforms on special days of the months to purchase necessities are just a few examples of being financially aware.

Of course, the best thing to do is to be prudent in spending, in essence practicing delayed gratification at all times.

The best investment is knowledge

It is a good sign that there is an increasing number of licensed financial professionals such as Chartered Financial Analysts and Certified Financial Planners out there today.

We also do see many more collaborative efforts between industry professionals working hand in hand with regulators in adopting social media to reach out to the masses.

With the advent of social media, it is also crucial to sift out genuine financial literacy advocates. After all, there are many free resources online today.

It is not to say the smartest people from the top of their professions cannot be hoodwinked. We have seen how 34-year-old Ng Yu Zhi of Envy Asset Management and Envy Global Trading swindled prominent people like the general counsel for Temasek Holdings Pek Siok Lan, criminal lawyer Sunil Sudheesan, ex-president of the Law Society Thio Shen Yi, chairman of Vickers Capital Group Finian Tan and CEO of Chuan Hup Holdings Terence Peh, among others.

This purported nickel trading scheme amounting to S$1bil (Rm3.2bil) was the largest fraud or Ponzi scheme in Singapore’s history. The best part, red flags were obvious where both of the perpetrator’s entities above were not licensed by Monetary Authority Singapore and he was promising 15% returns in three months to his clients.

Ultimately, it comes down to the individual and a good sense of financial awareness when managing one’s own hard-earned money.

The best investment is in yourself. Whether it is learning a new skill or advancing your education, self enrichment gives the best return on investment.

As Benjamin Franklin once said, “An investment in knowledge pays the best interest”. He can’t be wrong considering his face is literally on the US dollar bill even till today. - StarBiz,

Ng Zhu Hann, the CEO of Tradeview Capital. He is also a lawyer and the author of “Once Upon A Time In Bursa”. The views expressed here are the writer’s own.

 

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Thursday, July 7, 2022

BANK NEGARA RAISES OPR TO 2,5% , Still a good hedge against inflation

 

 

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PETALING JAYA: The Monetary Policy Committee (MPC) of Bank Negara has increased the overnight policy rate (OPR) by 25 basis points to 2.25% amid positive growth prospects for the local economy.

“For the Malaysian economy, economic activity continued to strengthen in recent months.

“Exports and retail spending indicators affirm the positive growth momentum, supported by the transition to endemicity, “ the central bank said in a statement yesterday.

The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.5% and 2%, respectively.

The OPR, which is a benchmark rate that allows banks to determine their lending and deposit rates, had been reduced by a cumulative 125 basis points during the course of the Covid-19 pandemic, bringing it to a historic low of 1.75%.

Yesterday’s increase was a second consecutive one after a 25-basis-point hike in May, which was also the first time the OPR was raised since the onset of the pandemic.

OCBC Bank economist Wellian Wiranto said the fact that the central bank had not gone more “ballistic” with a 50-basis-point hike yesterday speaks of a “heavy preference for a gingerly approach in tightening.”

OCBC Bank economist Wellian Wiranto said the fact that the central bank had not gone more “ballistic” with a 50-basis-point hike yesterday speaks of a “heavy preference for a gingerly approach in tightening.”

“That is a prudent thing, given how global recession fears are on the rise,” he said.

Going forward, he said he expects at least one more 25-basis-point hike this year that will be seen as a further normalisation of policy rate rather than outright tightening.

“It might then pause in the last meeting of the year in November to assess the balance between inflation and recession risks before undertaking any action thereafter,“ he added.

In its statement, the central bank said the extent of upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy.

“The inflation outlook continues to be subject to global commodity price developments, arising mainly from the ongoing military conflict in Ukraine and prolonged supply- related disruptions, as well as domestic policy measures,“ it said.

Year-to-date, headline inflation averaged 2.4%.

In its statement, the central bank said the extent of upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy. 
.In its statement, the central bank said the extent of upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy.

“While it is projected to remain within the 2.2%-3.2% forecast range for the year, headline inflation may be higher in some months due mainly to the base effect from electricity prices.

“Underlying inflation, as measured by core inflation, is expected to average between 2% and 3% in 2022, as demand continues to improve amid the high-cost environment,” it said.

Bank Negara said that in recent months, the unemployment rate had declined further, with higher labour participation and improving income prospects.

“Looking ahead, while external demand is expected to moderate, weighed by headwinds to global growth, economic growth will be supported by firm domestic demand.

“Additionally, the reopening of international borders since April 1 would facilitate the recovery in tourism-related sectors.”

Nevertheless, the central bank warned of downside risks to growth that continue to stem from a weaker-than-expected global expansion, further escalation of geopolitical conflicts and worsening supply chain disruptions.

“Even as it continues to project a strengthening economic recovery, things are likely to turn less rosy from here,” OCBC’s Wiranto said.

Bank Negara said that at the current OPR level, the stance of monetary policy remained accommodative and supportive of economic growth.

“The MPC will continue to assess evolving conditions and their implications on the overall outlook to domestic inflation and growth.

Rakuten Trade head of equity sales Vincent Lau told StarBiz yesterday’s hike was a reflection of confidence in the continued growth of the Malaysia economy. 
Rakuten Trade head of equity sales Vincent Lau told StarBiz yesterday’s hike was a reflection of confidence in the continued growth of the Malaysia economy.

“Any adjustments to the monetary policy settings, going forward, would be done in a measured and gradual manner, ensuring that monetary policy remains accommodative to support a sustainable economic growth in an environment of price stability.”

Meanwhile, Rakuten Trade head of equity sales Vincent Lau told StarBiz yesterday’s hike was a reflection of confidence in the continued growth of the Malaysian economy.

“With the increase in our benchmark rate, this may also stem the outflow of foreign money, which will technically see higher returns alongside the higher rate,” he said.

That said, the stock market fell over 20 points at the close yesterday after the hike was announced.

“It was probably a knee-jerk reaction as the hike had more or less been priced in already,” Lau said.

Bursa Malaysia’s fall was also in line with most regional markets as the fear of a global recession continued to rear its ugly head.

Nevertheless, at the close of the market yesterday, lenders like Malayan Banking Bhd and CIMB Group Holdings Bhdfinished higher as investors bought the stocks, banking on a higher OPR that could likely boost the lenders’ earnings. 

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Still a good hedge against inflation 

 

 https://www.thestar.com.my/business/business-news/2022/07/07/still-a-good-hedge-against-inflation

 

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