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Since the US rate cut, the appreciation of the ringgit has not diminished, making it the second strongest currency in the Asia-Pacific region, just slightly behind the Thai baht.
After the Federal Reserve's rate cut on September 18, Asian-Pacific currencies against the US dollar generally saw an increase, with the ringgit's appreciation also relatively significant, second only to the Thai baht.
According to Bloomberg data, the Thai baht to US dollar exchange rate has shown the most significant increase among currencies in the Asia-Pacific region, appreciating a total of 2.73% from September 19 to date, making it the best performing in the region.
Following closely behind, the Malaysian Ringgit ranks second with a 2.45% appreciation, while the South Korean Won versus US dollar exchange rate increased by 1.71%, placing it third.
Once rose to 4.09.
It is worth mentioning that on the last day of September, the Ringgit exchange rate continued to rise and broke through 4.10, reaching a peak of 4.0947, marking a new high in 41 months since May 2021.
Mohamed Afzal Khan, Chief Economist at Bank Muamalat Malaysia, mentioned that the upward trend of the Ringgit exchange rate is expected to continue, but it is also possible that some market traders may take advantage of the Ringgit's overall appreciation for arbitrage opportunities.
From a global perspective, the economic signals from the United States seem to be mixed; in August, personal consumption expenditures (PCE) slowed to 2.2%, while core PCE stabilized at 2.7%.
Nevertheless, it is expected that the Federal Reserve will continue its loose monetary policy in the upcoming months of November and December.
Considering this point, the focus this week will be on data from the United States...
After the Federal Reserve's rate cut on September 18, Asian-Pacific currencies against the US dollar generally saw an increase, with the ringgit's appreciation also relatively significant, second only to the Thai baht.
According to Bloomberg data, the Thai baht to US dollar exchange rate has shown the most significant increase among currencies in the Asia-Pacific region, appreciating a total of 2.73% from September 19 to date, making it the best performing in the region.
Following closely behind, the Malaysian Ringgit ranks second with a 2.45% appreciation, while the South Korean Won versus US dollar exchange rate increased by 1.71%, placing it third.
Once rose to 4.09.
It is worth mentioning that on the last day of September, the Ringgit exchange rate continued to rise and broke through 4.10, reaching a peak of 4.0947, marking a new high in 41 months since May 2021.
Mohamed Afzal Khan, Chief Economist at Bank Muamalat Malaysia, mentioned that the upward trend of the Ringgit exchange rate is expected to continue, but it is also possible that some market traders may take advantage of the Ringgit's overall appreciation for arbitrage opportunities.
From a global perspective, the economic signals from the United States seem to be mixed; in August, personal consumption expenditures (PCE) slowed to 2.2%, while core PCE stabilized at 2.7%.
Nevertheless, it is expected that the Federal Reserve will continue its loose monetary policy in the upcoming months of November and December.
Considering this point, the focus this week will be on data from the United States...
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$SNS (0259.MY)$
will it hit historical high today?
will it hit historical high today?
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$RGB (0037.MY)$
For those having this door gift should be profits more than 100%
PS if you holding till today
For those having this door gift should be profits more than 100%
PS if you holding till today
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$SCGBHD (0225.MY)$ reversal candle coming after hammer.. continuation to uptrend maybe..
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The fire incident did not cause concerns, and the two giants at Genting Highlands stabilized in the morning session.
Last week's fire incident at Genting Highlands does not seem to have raised concerns among investors, and the stock prices of the two giants at Genting Highlands stabilized this morning.
As of 9:40 in the morning, $GENTING (3182.MY)$Genting reported 4.69 ringgit, unchanged.
As for $GENM (4715.MY)$At Genting Highlands Malaysia, the price is 2.57 ringgit, with a minimum increment of 1 sen.
According to media reports, a fire broke out last Friday at the Genting SkyWorld Theme Park building and was finally extinguished in the evening of the same day.
As of now, this fire has not resulted in any casualties.
According to the initial report from the Fire and Rescue Department, the fire occurred on the second floor of the building and quickly spread to the fourth floor.
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and liabilities arising from relying on this content. Before making any investment decisions, it is essential to conduct your own independent research and evaluation, and consult professional advice when necessary. The author and related participants are not responsible for any losses or damages resulting from the use or reliance on the information contained in this article.
Last week's fire incident at Genting Highlands does not seem to have raised concerns among investors, and the stock prices of the two giants at Genting Highlands stabilized this morning.
As of 9:40 in the morning, $GENTING (3182.MY)$Genting reported 4.69 ringgit, unchanged.
As for $GENM (4715.MY)$At Genting Highlands Malaysia, the price is 2.57 ringgit, with a minimum increment of 1 sen.
According to media reports, a fire broke out last Friday at the Genting SkyWorld Theme Park building and was finally extinguished in the evening of the same day.
As of now, this fire has not resulted in any casualties.
According to the initial report from the Fire and Rescue Department, the fire occurred on the second floor of the building and quickly spread to the fourth floor.
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and liabilities arising from relying on this content. Before making any investment decisions, it is essential to conduct your own independent research and evaluation, and consult professional advice when necessary. The author and related participants are not responsible for any losses or damages resulting from the use or reliance on the information contained in this article.
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Despite KLCI retracing briefly back towards the 1611 points region, we still enjoyed an overall positive market sentiment today as we reached a daily trading volume of near 7 billion today. So far everything is looking quite good here as many stocks rallied.
Main stocks that showed strong buying momentum would be the likes of HM, JCY, SNS, YNHPROP, EKOVEST, SMART, JTGROUP, JAKS, IWCITY, MRCB, LBS, DNEX, MPAY, SCABLE, UCREST, TM, CENSOF, PMHLDG, SCGB...
Main stocks that showed strong buying momentum would be the likes of HM, JCY, SNS, YNHPROP, EKOVEST, SMART, JTGROUP, JAKS, IWCITY, MRCB, LBS, DNEX, MPAY, SCABLE, UCREST, TM, CENSOF, PMHLDG, SCGB...
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$SCGBHD (0225.MY)$ Increase the effort, 0.90 is waiting for you.
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