The Balloon Drama – and TWO more things you need to know this week (weekly ended 07/02/2023).

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Sharing some Investing and Economic insights:


The Balloon Drama – and TWO more things you need to know this week;

  1. The Balloon Drama. A US fighter jet shot down a balloon, suspected to be a Chinese spy balloon last Saturday. China reiterated that it was a “civilian airship conducting weather research” that accidentally drifted into US airspace. This has further strained the already-tense relations between the two countries. US has cancelled the planned visit to Beijing. China has asked US to “not overreact and to remain calm”. Chinese equities fell on Monday. Undoubtedly, this incident will be a negative headline for the market.
  2. The Fed raised its interest rate by 0.25% last Wednesday and promised of an “ongoing increase” as part of its still unresolved battle against inflation as the labor market remains strong. Last Friday data showed 517,000 jobs were created in January – well above expectations for 185,000 despite layoffs in the technology sector. It further said that inflation has eased somewhat but remains high.
  3. The effect of stronger tourism activity, especially the resumption of China outbound travelling and domestic tourism demand, is expected to boost Malaysia’s gross domestic product (GDP) in 2023. This would also support Malaysia economic growth forecast of 4% in 2023 – UOB Research.


Raiz is about helping you save & invest more – being able to save 5% of your salary is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).


Do you know?

Chinese tourists recorded the 3rd biggest tourist arrivals for Malaysia.

Singapore is first and Indonesia is second.


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