KUALA LUMPUR (March 22): Amidst the weaker ringgit and economic uncertainty, the local Chinese business community is slightly more optimistic about the economic outlook for 2017 and 2018, according to the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). The demand from U.S. has been steady," Peck told theedgemarkets.com when asked about reason for the increase in exports. Furthermore, he added the real reason for ACCCIM to be slightly optimistic on the economic outlook is the pick up in global semiconductor sales. Speaking to reporters at the press conference this afternoon, Peck also explained that the slight optimism towards the economic outlook was on improvement of capacity utilisation levels that are in line with pick up in sales. Moreover, ACCCIM also noted the expectation of continued improvements in economic outlook for 2019.

Source: The Edge Markets March 22, 2017 06:00 UTC