马来西亚10年期国债 (Malaysia10Y) 加自选

马来西亚领先经济指数在2025年8月环比下跌0.8%，扭转了7月份向上修正的0.8%的涨幅。七个组成部分中有三个下降，主要是半导体实际进口（-0.7%对7月份的0.3%）、新公司注册（-0.5%对0.3%）和实际货币供应量（-0.1%对0.2%）。相比之下，其他基本贵金属和有色金属（0.1%对0.5%）和住房单元批准（0.1%对0.3%）有所增加，而制造业销售价值反弹（0.2%对-0.6%）以及马来西亚证券交易所工业指数（0.1%对-0.2%）。领先指数在7月份下调0.3%后，同比下降0.5%。与此同时，反映当前经济状况的重合指数在8月份下跌了0.6%，此前几个组成部分有所放缓，特别是制造业的产能利用率（-0.3%）。

Malaysia’s leading economic index fell 0.8% month-on-month in August 2025, reversing an upwardly revised 0.8% rise in July. Three of the seven components declined, led by real imports of semiconductors (-0.7% vs 0.3% in July), new company registrations (-0.5% vs 0.3%), and real money supply (-0.1% vs 0.2%). By contrast, increases were recorded in other basic precious and non-ferrous metals (0.1% vs 0.5%) and housing unit approvals (0.1% vs 0.3%), while manufacturing sales value rebounded (0.2% vs -0.6%) along with the Bursa Malaysia Industrial Index (0.1% vs -0.2%). On a year-on-year basis, the leading index declined 0.5%, after a downwardly revised 0.3% fall in July. Meanwhile, the coincident index, which reflects current economic conditions, fell 0.6% in August, following a moderation in several components, particularly capacity utilisation in Manufacturing (-0.3%).

马来西亚的食品价格在上个月上涨2.0%后，在2025年9月同比上涨2.1%。这是自6月以来的最大涨幅。

Food prices in Malaysia increased 2.1% year-on-year in September 2025, after a 2.0% gain in the previous month. It was the steepest rise since June.

马来西亚的年通货膨胀率从上个月的1.3%上升到2025年9月的1.5%，为2月以来的最高水平，略高于市场预期的1.4%。食品价格同比上涨2.1%，为三个月来最快增速。主要的上行压力还来自住房（1.5%对1.2%）、交通（0.7%对0.2%）、酒精饮料和烟草（8月份为0.3%对0.4%）、家具（0.2%对0.2%），健康（1.3%对1.1%）、娱乐（0.9%对0.9%）、教育（2.4%对2.4%）、餐馆（3.3%对3.5%）、金融服务（5.6%对5.6%）和杂项（4.8%对4.0%）。相比之下，服装（-0.2%对-0.1%）和通信（-4.5%对-5.6%）的价格进一步下跌。核心通胀率（不包括波动较大的新鲜食品和管理价格）同比上涨2.1%，为2023年10月以来的最高水平，8月份上涨2.0%。每月，消费者价格指数上涨0.2%，略高于前五个月的0.1%，是七个月来最快的涨幅。

Malaysia’s annual inflation rate rose to 1.5% in September 2025 from 1.3% in the previous month, marking the highest reading since February and slightly topping market estimates of 1.4%. Food prices rose by 2.1% yoy, the fastest pace in three months. Main upward pressure also came from housing (1.5% vs 1.2%), transport (0.7% vs 0.2%), alcoholic beverages & tobacco (0.3% vs 0.4% in August), furnishing (0.2% vs 0.2%), health (1.3% vs 1.1%), recreation (0.9% vs 0.9%), education (2.4% vs 2.4%), restaurants (3.3% vs 3.5%), financial services (5.6% vs 5.6%), and miscellaneous items (4.8% vs 4.0%). In contrast, prices fell further for clothing (-0.2% vs -0.1%) and communication (-4.5% vs -5.6%). Core inflation, which excludes volatile fresh food and administered prices, rose 2.1% yoy, the steepest pace since October 2023, after a 2.0% gain in August. Monthly, consumer prices increased 0.2%, edging higher from a 0.1% rise in the prior five months and marking the fastest gain in seven months.

初步估计显示，马来西亚经济在2025年第三季度同比增长5.2%，高于第二季度的4.4%，是一年来最快的增长。更快的增长是由制造业活动推动的，制造业活动增长了4.0%（高于第二季度的3.7%），这得益于电气和光学产品、植物油和动物油、脂肪和食品加工以及非金属矿产品、基本金属和金属制品的产出增加。此外，采矿和采石业活动强劲反弹，在第二季度收缩5.2%后上涨10.9%。尽管对经济仍有积极贡献，但由于油棕榈和橡胶子行业的下降，建筑业（11.2%对12.1%）和农业（0.4%对2.1%）的增长有所放缓。服务业活动稳定在5.1%。按季度计算，经济增长5.5%，高于上一季度的1.0%。

Malaysia’s economy expanded 5.2% year-on-year in Q3 2025, accelerating from 4.4% growth in Q2 and marking the fastest expansion in a year, preliminary estimates showed. The faster growth was driven by manufacturing activity, which rose 4.0% (up from 3.7% in Q2), supported by higher output in electrical and optical products, vegetable and animal oils, fats and food processing, and non-metallic mineral products, basic metal and fabricated metal products. Additionally, activity strongly rebounded in mining and quarrying, rising 10.9% after a 5.2% contraction in Q2. While still contributing positively to the economy, growth eased in construction (11.2% vs 12.1%), and agriculture (0.4% vs 2.1%), due to declines in oil palm and rubber sub-sectors. Activity in services remained steady at 5.1%. On a quarterly basis, the economy expanded 5.5%, picking up from 1.0% in the previous quarter.