F0119: Investing in 2024 - How next year will be for the markets, 10% Sales Tax & Price Increases.
Description
We’re back with Certified Financial Planners Hann and Sani. This session, as the title suggests, mainly focuses on investing in 2024. The speakers shared what sort of strategies we as investors could employ to maximize profits and insights on how next year will be for the markets.
We also talked about a more pressing matter: the new 10% sales tax, which will be imposed on Low-Value Goods below RM500 starting January 1, 2024.
Will the new 10% sales tax make local goods more competitive?How likely is this new policy to increased prices of online goods?Why are the US Federal Reserve’s decisions crucial for global markets?What is the investing outlook for 2024?How can we maximize profits next year?What assets/industries are likely to perform?Quick facts:
i) In December, the government announced a 10% sales tax to be imposed on low-value goods costing below RM500.
This tax is only applicable to online purchases, and local products will not be affected.
More info: https://www.instagram.com/p/C0-wtyQpQIK/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==
ii) The Federal Reserve has recently kept interest rates steady in its final FOMC meeting. In fact, the committee is looking to reduce them earlier than expected next year.
The result of this was a massive jump in the markets. The S&P, in the past 7 days rallied 3.16%, while back at home, the FBMKLCI recovered 1.50%.
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Hann is a personal finance expert with over a decade of experience in the financial industry. Previously the CEO of RinggitPlus, he is qualified as a licensed financial planner (CFP) and a chartered financial analyst (CFA), and has helped tens of thousands of Malaysians on their path toward financial literacy. Hann is currently the founder of Halogen Capital, the world's first Shariah-compliant crypto fund that provides institutional exposure to Bitcoin.
Our other speaker, Mr. Sani Hamid, is an economist and certified financial planner (CFA). He’s a frequent commentator in the media and has over 30 years of experience in the financial markets, having worked for companies such as S&P Ratings as a Director in the sovereign team overseeing the ratings of countries such as Indonesia, India, Malaysia, and Singapore.
Hann’s socials: https://twitter.com/ooihann
Sani’s socials: https://twitter.com/sanihamid
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DISCLAIMER: The information contained in this podcast is for informational and educational purposes only. Nothing herein shall be construed as financial, legal, or tax advice. The opinions expressed in this podcast are solely those of the speakers.
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