Malaysia's October exports better than expected

Malaysia''s exports and industrial production growth posted a better than expected performance in October, up 15.8% year-on-year (Y-O-Y) and 2.8% Y-O-Y respectively, despite the slowdown in global trade, the Malaysian News Agency (Bernama) reported. HSBC Global research said the October trade and industrial production numbers showed that economic activity has moderated and has proved to be more resilient than anticipated. "So far, commodities have held up the flag on the export side, countering the falling external demand for electronic products," it said in a research note today. Looking ahead, it said the global slowdown would continue and broaden with the protracted sovereign debt crisis in Euro zone expected to remain a drag on global trade. However, solid domestic demand is expected to cushion against the slowdown spilling over through the external channel.