Home » wire - Malaysia Sukuk Favored Over Indonesia Amid Rout

09/08/2011 02:25:04 PM GMT   Comments ()     Add a comment   Print     E-mail to friend

 [Bloomberg] The plunge in global equities is proving a boon for Malaysia as investors seek out the nation’s investment-grade Islamic bonds over sukuk from Indonesia and the UAE. Malaysia’s dollar-denominated Shariah-compliant notes due in 2015 yielded 2.184 pct yesterday, down 15 bps in the biggest one-day drop in a month, according to data compiled by Bloomberg. The government bonds yielded the least since June 27 compared with similar-maturity Indonesian Islamic debt. The yield gap with sukuk of emirate Ras Al Khaimah, was the widest since June 17. The price of oil, one of the U.A.E.’s chief export earners, has slumped 14 pct in the past week, is boosting concern that economic growth will slow in the Persian Gulf, a region that’s seen political protests this year. omar1.1

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