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Malaysia in transition

Malaysia hits back at Nomura's equity market downgrade

Kuala Lumpur says the nation's economy is healthy and reforms are underway

The stock market gallery in Kuala Lumpur. The downgrade by Nomura on Jan. 9 was the second since Malaysia's new government was installed in May.    © Reuters

KUALA LUMPUR -- The Malaysian government sought to reassure investors on Thursday following critical reports on the country's economy, saying that ongoing reforms were adequate to deal with external uncertainties, in particular those brought about by the recent decline in crude oil prices.

The reassurance came after Japanese investment bank Nomura downgraded Malaysia in an equity strategy report on Wednesday to 'underweight,' from 'neutral,' citing "poor earnings growth prospects amid higher valuations and on lack of major expansionary reforms so far."

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