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$SLVEST (0215.MY)$ Isn't there a new contract? Why is the stock price still dropping?
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Columns Breaking through the 4.50 barrier, the Ringgit became the best emerging currency of the week.
$USD/MYR (USDMYR.FX)$
The rising trend of the ringgit is unstoppable, with another surge of over 1.7% today, breaking through the 4.50 level. The entire week saw a rise of 3.6%!
As of 5 p.m., the exchange rate of the ringgit was 4.4908 to the US dollar, with a daily increase of 1.72%. This is another important level that the ringgit has surpassed within 3 days after breaking through the 4.60 level on Wednesday, July 31.
Looking at the entire week, the exchange rate of the ringgit has increased by 3.59%, making it the best-performing emerging market currency this week.
The outlook for Malaysia's economic growth is optimistic, coupled with continuous inflow of foreign funds, which has led to a 10-day continuous increase in the ringgit, the longest streak in 14 years.
According to Bloomberg, after three years of decline, the performance of the ringgit this year has been better than other Asian currencies, especially after the government introduced policies to promote foreign investment and reduced subsidies to narrow the budget deficit.
With the support of these policies, the Malaysian stock market has regained the interest of global funds. These funds have bought $0.112 billion (approximately 0.508 billion ringgit) of Malaysian stocks so far this year.
At the same time, Malaysia's economic recovery is also accelerating. The improvement in export conditions has provided support for economic growth. In addition, the statistics bureau's earlier forecast for the second quarter's economic growth rate reached 5.8%, exceeding market expectations.
According to the report by Bernama, Second Finance Minister Datuk Seri Amir Hanza believes that the forecast of Malaysia's economic growth of 4% to 5% this year can be achieved, and it may even reach a higher level. The trend of the ringgit will also enter a...
The rising trend of the ringgit is unstoppable, with another surge of over 1.7% today, breaking through the 4.50 level. The entire week saw a rise of 3.6%!
As of 5 p.m., the exchange rate of the ringgit was 4.4908 to the US dollar, with a daily increase of 1.72%. This is another important level that the ringgit has surpassed within 3 days after breaking through the 4.60 level on Wednesday, July 31.
Looking at the entire week, the exchange rate of the ringgit has increased by 3.59%, making it the best-performing emerging market currency this week.
The outlook for Malaysia's economic growth is optimistic, coupled with continuous inflow of foreign funds, which has led to a 10-day continuous increase in the ringgit, the longest streak in 14 years.
According to Bloomberg, after three years of decline, the performance of the ringgit this year has been better than other Asian currencies, especially after the government introduced policies to promote foreign investment and reduced subsidies to narrow the budget deficit.
With the support of these policies, the Malaysian stock market has regained the interest of global funds. These funds have bought $0.112 billion (approximately 0.508 billion ringgit) of Malaysian stocks so far this year.
At the same time, Malaysia's economic recovery is also accelerating. The improvement in export conditions has provided support for economic growth. In addition, the statistics bureau's earlier forecast for the second quarter's economic growth rate reached 5.8%, exceeding market expectations.
According to the report by Bernama, Second Finance Minister Datuk Seri Amir Hanza believes that the forecast of Malaysia's economic growth of 4% to 5% this year can be achieved, and it may even reach a higher level. The trend of the ringgit will also enter a...
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The dollar and Asian stocks fell as Biden announced his withdrawal from the 2024 US presidential election and supported He Jinli to take over.
The Bloomberg Dollar Spot Index $USD (USDindex.FX)$Fell 0.2% on Monday, with the Mexican peso rising.
Faced with constant pressure within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November election. The stock markets in Japan and South Korea opened lower, and the Australian stock market weakened. Hong Kong stock index futures held steady.
$Korea Composite Index (.KOSPI.KR)$
$Nikkei 225 (.N225.JP)$
$S&P/ASX 200 (.XJO.AU)$
$Hang Seng Index (800000.HK)$
The question facing investors is whether it is still necessary to stick to Trump's trade since Biden has abandoned his bid for re-election.
The market may experience significant volatility as traders wait to see if He Jinli can win the party's nomination while weighing whether she can gather enough momentum to challenge Trump's current lead in the polls.
"People's subconscious reaction is that this is not good for the US dollar, but it is still too early to draw conclusions," said Olga Yankovskaya, director of emerging market research and strategy at Credit Agricole CIB.
"This largely depends on Hua Jili's initial appearance, the choice of campaign partners, and the reaction of swing state polls."
On the commodity side, crude oil and gold prices rose in early trading.
Biden drops out of the race...
The Bloomberg Dollar Spot Index $USD (USDindex.FX)$Fell 0.2% on Monday, with the Mexican peso rising.
Faced with constant pressure within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November election. The stock markets in Japan and South Korea opened lower, and the Australian stock market weakened. Hong Kong stock index futures held steady.
$Korea Composite Index (.KOSPI.KR)$
$Nikkei 225 (.N225.JP)$
$S&P/ASX 200 (.XJO.AU)$
$Hang Seng Index (800000.HK)$
The question facing investors is whether it is still necessary to stick to Trump's trade since Biden has abandoned his bid for re-election.
The market may experience significant volatility as traders wait to see if He Jinli can win the party's nomination while weighing whether she can gather enough momentum to challenge Trump's current lead in the polls.
"People's subconscious reaction is that this is not good for the US dollar, but it is still too early to draw conclusions," said Olga Yankovskaya, director of emerging market research and strategy at Credit Agricole CIB.
"This largely depends on Hua Jili's initial appearance, the choice of campaign partners, and the reaction of swing state polls."
On the commodity side, crude oil and gold prices rose in early trading.
Biden drops out of the race...
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