The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

If controls go, will confidence falter?

Malaysia seems to have recovered better from the Asian crisis than some other countries in the region, not least because of the currency control policies that were introduced. Confidence was shaken a little last month by the volatility in US markets, but the fundamentals still appear to be sound.

       
Kuala Lumpur stock exchange:
from 250 to over 1000 in

"If you're not positive, then you're in the wrong business," boomed veteran broker David Chua at the gaggle of nervous young traders as they waited for the lift in their Kuala Lumpur tower block. Fear of local carnage in the aftermath of Wall Street's bloodbath in mid-April was in the air. In an echo of three years ago, one dared to reply with an over-used Chinese mantra: "There's opportunity in crisis". But after an exhausting Monday watching the Kuala Lumpur Stock Exchange plummet 6%, he didn't sound convinced.


Wall Street's jitters could not have come at a worse time for Malaysia, and indeed the rest of Asia, as it begins to show the first tentative signs of recovery. As confidence returns, Kuala Lumpur's bankers are in reflective mood, but some things do not quite add up.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree