KUALA LUMPUR (March 15): A government cash handout budgeted before a national election has ignited interest in consumer stocks, with a gauge of retail stocks more than doubling the gain of the benchmark Malaysian FTSE Bursa Malaysia KLCI Index.
Riding on strong economic growth and rising oil prices, Prime Minister Najib Razak has raised subsidies and social assistance in the government’s 2018 spending plans by 15 percent after two years of cuts, bidding to shore up his support with voters. The country is due for national elections before August.
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