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Malaysian Reserve
22-07-2025
- Business
- Malaysian Reserve
Ringgit rises against US dollar in early trading
THE ringgit appreciated against the US dollar in early trade, tracking US dollar softness as markets price in uncertainty ahead of the Aug 1 tariff decision by the United States (US). At 8.01 am, the ringgit rose to 4.2230/2450 against the greenback, compared to Monday's close of 4.2320/2365 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said he expects the ringgit to maintain its positive performance today. However, he pointed out that the uncertainties over the US tariff would continue to affect market sentiments. Mohd Afzanizam said signals from the US official were rather mixed and uncertain, with US Treasury Secretary Scott Bessent indicating that the Trump administration is more concerned with the quality of trade agreements than their timing. 'The back and forth statements on the tariff plans would mean the scope for negotiation is widely open,' he told Bernama. Mohd Afzanizam said the Malaysian economy performed reasonably well in the first half of 2025, and Bank Negara Malaysia's preemptive move to cut the Overnight Policy Rate, coupled with an expansionary fiscal policy, should help support Malaysia's gross domestic product growth in the second half. He added that while the outlook remains challenging, growth prospects for Malaysia are expected to stay fairly resilient. Meanwhile, SPI Asset Management managing partner Stephen Innes said the wider spread between the ringgit and the US dollar this morning reflected two key factors, one of which is heightened scrutiny on the Tokyo cash open following the weekend election and Monday's holiday, developments that could trigger moves in the yen if Japanese Government Bond (JGB) yields respond. 'The seasonal liquidity is thin across broader foreign exchange markets, amplifying any headline-driven swings,' he added. Innes said the ringgit is holding firm amid general US dollar weakness after Bessent called for a review of the US Federal Reserve, stoking fresh concerns about the US central bank's independence. At the opening, the ringgit was mostly traded easier against a basket of major currencies. It dipped against the Japanese yen to 2.8638/8789 from 2.8612/8644, declined versus the euro to 4.9371/9628 from 4.9277/9330. However, the ringgit was slightly higher against the British pound, rising to 5.6951/7248 from 5.6954/7015 at Monday's close. The local note trended mostly higher against most ASEAN currencies. It rose vis-à-vis the Singapore dollar to 3.2969/3146 from 3.2990/3028, and appreciated against the Indonesian rupiah to 258.7/260.1 from 259.2/259.6. The ringgit fell against the Thai baht to 13.0986/1750 from 13.0754/0954, and edged up versus the Philippine peso to 7.38/7.42 from 7.40/7.41. — BERNAMA
Daily Express
22-07-2025
- Business
- Daily Express
Ringgit rises against US dollar in early trading
Published on: Tuesday, July 22, 2025 Published on: Tue, Jul 22, 2025 By: Bernama Text Size: At 8.01 am, the ringgit rose to 4.2230/2450 against the greenback, compared to Monday's close of 4.2320/2365 Kuala Lumpur: The ringgit appreciated against the US dollar in early trade, tracking US dollar softness as markets price in uncertainty ahead of the Aug 1 tariff decision by the United States (US). At 8.01 am, the ringgit rose to 4.2230/2450 against the greenback, compared to Monday's close of 4.2320/2365 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said he expects the ringgit to maintain its positive performance today. However, he pointed out that the uncertainties over the US tariff would continue to affect market sentiments. Mohd Afzanizam said signals from the US official were rather mixed and uncertain, with US Treasury Secretary Scott Bessent indicating that the Trump administration is more concerned with the quality of trade agreements than their timing. 'The back and forth statements on the tariff plans would mean the scope for negotiation is widely open,' he told Bernama. Mohd Afzanizam said the Malaysian economy performed reasonably well in the first half of 2025, and Bank Negara Malaysia's preemptive move to cut the Overnight Policy Rate, coupled with an expansionary fiscal policy, should help support Malaysia's gross domestic product growth in the second half. He added that while the outlook remains challenging, growth prospects for Malaysia are expected to stay fairly resilient. Meanwhile, SPI Asset Management managing partner Stephen Innes said the wider spread between the ringgit and the US dollar this morning reflected two key factors, one of which is heightened scrutiny on the Tokyo cash open following the weekend election and Monday's holiday, developments that could trigger moves in the yen if Japanese Government Bond (JGB) yields respond. 'The seasonal liquidity is thin across broader foreign exchange markets, amplifying any headline-driven swings,' he added. Innes said the ringgit is holding firm amid general US dollar weakness after Bessent called for a review of the US Federal Reserve, stoking fresh concerns about the US central bank's independence. At the opening, the ringgit was mostly traded easier against a basket of major currencies. It dipped against the Japanese yen to 2.8638/8789 from 2.8612/8644, declined versus the euro to 4.9371/9628 from 4.9277/9330. However, the ringgit was slightly higher against the British pound, rising to 5.6951/7248 from 5.6954/7015 at Monday's close. The local note trended mostly higher against most ASEAN currencies. It rose vis-à-vis the Singapore dollar to 3.2969/3146 from 3.2990/3028, and appreciated against the Indonesian rupiah to 258.7/260.1 from 259.2/259.6. The ringgit fell against the Thai baht to 13.0986/1750 from 13.0754/0954, and edged up versus the Philippine peso to 7.38/7.42 from 7.40/7.41. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
22-07-2025
- Business
- The Star
Ringgit rises against US$ in early trading
KUALA LUMPUR: The ringgit appreciated against the US dollar in early trade, tracking US dollar softness as markets price in uncertainty ahead of the Aug 1 tariff decision by the United States (US). At 8.01 am, the ringgit rose to 4.2230/2450 against the greenback, compared to Monday's close of 4.2320/2365 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said he expects the ringgit to maintain its positive performance today. However, he pointed out that the uncertainties over the US tariff would continue to affect market sentiments. Mohd Afzanizam said signals from the US official were rather mixed and uncertain, with US Treasury Secretary Scott Bessent indicating that the Trump administration is more concerned with the quality of trade agreements than their timing. "The back and forth statements on the tariff plans would mean the scope for negotiation is widely open,' he told Bernama. Mohd Afzanizam said the Malaysian economy performed reasonably well in the first half of 2025, and Bank Negara Malaysia's preemptive move to cut the Overnight Policy Rate, coupled with an expansionary fiscal policy, should help support Malaysia's gross domestic product growth in the second half. He added that while the outlook remains challenging, growth prospects for Malaysia are expected to stay fairly resilient. Meanwhile, SPI Asset Management managing partner Stephen Innes said the wider spread between the ringgit and the US dollar this morning reflected two key factors, one of which is heightened scrutiny on the Tokyo cash open following the weekend election and Monday's holiday, developments that could trigger moves in the yen if Japanese Government Bond (JGB) yields respond. "The seasonal liquidity is thin across broader foreign exchange markets, amplifying any headline-driven swings,' he added. Innes said the ringgit is holding firm amid general US dollar weakness after Bessent called for a review of the US Federal Reserve, stoking fresh concerns about the US central bank's independence. At the opening, the ringgit was mostly traded easier against a basket of major currencies. It dipped against the Japanese yen to 2.8638/8789 from 2.8612/8644, declined versus the euro to 4.9371/9628 from 4.9277/9330. However, the ringgit was slightly higher against the British pound, rising to 5.6951/7248 from 5.6954/7015 at Monday's close. The local note trended mostly higher against most ASEAN currencies. It rose vis-à-vis the Singapore dollar to 3.2969/3146 from 3.2990/3028, and appreciated against the Indonesian rupiah to 258.7/260.1 from 259.2/259.6. The ringgit fell against the Thai baht to 13.0986/1750 from 13.0754/0954, and edged up versus the Philippine peso to 7.38/7.42 from 7.40/7.41. - Bernama
The Sun
22-07-2025
- Business
- The Sun
Ringgit rises against US dollar in early trading
KUALA LUMPUR: The ringgit appreciated against the US dollar in early trade, tracking US dollar softness as markets price in uncertainty ahead of the Aug 1 tariff decision by the United States (US). At 8.01 am, the ringgit rose to 4.2230/2450 against the greenback, compared to Monday's close of 4.2320/2365 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said he expects the ringgit to maintain its positive performance today. However, he pointed out that the uncertainties over the US tariff would continue to affect market sentiments. Mohd Afzanizam said signals from the US official were rather mixed and uncertain, with US Treasury Secretary Scott Bessent indicating that the Trump administration is more concerned with the quality of trade agreements than their timing. 'The back and forth statements on the tariff plans would mean the scope for negotiation is widely open,' he told Bernama. Mohd Afzanizam said the Malaysian economy performed reasonably well in the first half of 2025, and Bank Negara Malaysia's preemptive move to cut the Overnight Policy Rate, coupled with an expansionary fiscal policy, should help support Malaysia's gross domestic product growth in the second half. He added that while the outlook remains challenging, growth prospects for Malaysia are expected to stay fairly resilient. Meanwhile, SPI Asset Management managing partner Stephen Innes said the wider spread between the ringgit and the US dollar this morning reflected two key factors, one of which is heightened scrutiny on the Tokyo cash open following the weekend election and Monday's holiday, developments that could trigger moves in the yen if Japanese Government Bond (JGB) yields respond. 'The seasonal liquidity is thin across broader foreign exchange markets, amplifying any headline-driven swings,' he added. Innes said the ringgit is holding firm amid general US dollar weakness after Bessent called for a review of the US Federal Reserve, stoking fresh concerns about the US central bank's independence. At the opening, the ringgit was mostly traded easier against a basket of major currencies. It dipped against the Japanese yen to 2.8638/8789 from 2.8612/8644, declined versus the euro to 4.9371/9628 from 4.9277/9330. However, the ringgit was slightly higher against the British pound, rising to 5.6951/7248 from 5.6954/7015 at Monday's close. The local note trended mostly higher against most ASEAN currencies. It rose vis-à-vis the Singapore dollar to 3.2969/3146 from 3.2990/3028, and appreciated against the Indonesian rupiah to 258.7/260.1 from 259.2/259.6. The ringgit fell against the Thai baht to 13.0986/1750 from 13.0754/0954, and edged up versus the Philippine peso to 7.38/7.42 from 7.40/7.41. - Bernama
Yahoo
30-06-2025
- Business
- Yahoo
5 Best-Performing ETF Areas of June
Wall Street posted solid gains in June, with the S&P 500 rising 4.4%, the Dow Jones up 3.66%, and the Nasdaq climbing 6% over the past month (as of June 27, 2025). The tech boom mainly led to the rally. The month was marked by geopolitical tensions, particularly between Israel and Iran, which pushed oil prices higher. However, a ceasefire later on in the month helped calm markets. The United States Oil Fund USO jumped 9% over the past month, reflecting the surge in crude prices. U.S. economic data remained mixed. Inflation edged up slightly in May to 2.4%, the first increase in four months, but still below expectations of 2.5%. Meanwhile, the U.S. economy contracted at an annualized rate of 0.5% in Q1 2025. This marked a sharper decline than the previously estimated 0.2% drop and the first contraction in three years. Retail sales fell 0.9% in May, following a modest 0.1% decline in April, amid the ongoing economic uncertainty and trade tensions. President Trump struck a trade deal with China, offering a rare moment of optimism in global trade dynamics. However, tensions between Trump and Federal Reserve Chair Jerome Powell escalated. Trump is reportedly considering naming Powell's replacement as early as September, criticizing him for not cutting interest rates aggressively. Powell defended the Fed's 'wait and see' approach, citing the need to assess the impact of recent tariffs. In equity markets, several key stocks made headlines. Coinbase shares soared about 42% over the past month, fueled by news of its entry into the stablecoin market and optimism around crypto trading volumes. NVIDIA also rallied over 13%, driven by strong earnings and resilience despite new export bans to China. Globally, the Bank of Japan announced plans to gradually slow its bond purchases starting April 2026, while keeping its benchmark rate unchanged at 0.5%. The BOJ cited rising risks to economic growth and aims to reduce Japanese Government Bond (JGB) purchases to around 2 trillion yen per month by early 2027, down from 3 trillion currently. Against this backdrop, below we highlight a few winning exchange-traded fund (ETF) areas of the month of June. Platinum GraniteShares Platinum Trust (PLTM) – Up 23.2% Platinum has surged more than 50% in 2025, driven by supply shortages and rising Chinese imports. A projected deficit, declining mine output, weak recycling and falling inventories are tightening supply. Meanwhile, demand remains strong from autos and jewelry, while a jump has been noticed in investment inflows. Korea Defense PLUS Korea Defense Industry Index ETF (KDEF) – Up 21.7% The underlying Korea Defense Industry Index is designed to track the performance of South Korean companies that have demonstrated a high relevance to defense. The fund charges 65 bps in fees. Korean defense stocks have seen a surge over the past year, as the companies secured a number of major international contracts to export their defense systems. Broad Developed World ARK Innovation ETF (ARKK) – Up 20.3% Cathie Wood's ARK Innovation has again started to glow. The standout performers among ARKK's top holdings have recently been Coinbase and Roblox. Bitcoin Miners CoinShares Valkyrie Bitcoin Miners ETF (WGMI) – Up 19% Bitcoin prices were volatile in the month, with about flat return month-wise. However, Bitcoin miners were in great shape. The fund's top holding IREN Ltd. jumped 62.8% over the past month. The second holding, Core Scientific, surged 55.8%. These two stocks take about 30% of the fund. Hydrogen Global X Hydrogen ETF (HYDR) – Up 18.6% The Solactive Global Hydrogen Index provides exposure to companies that are positioned to benefit from further advancements in the field of hydrogen technology. Hydrogen stocks are rising as more countries focus on clean energy and introduce supportive policies. This growth comes from hydrogen's ability to cut carbon emissions, its versatile use across industries and its significance in building a low-carbon future. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Oil ETF (USO): ETF Research Reports ARK Innovation ETF (ARKK): ETF Research Reports Global X Hydrogen ETF (HYDR): ETF Research Reports PLUS Korea Defense Industry Index ETF (KDEF): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
