KUALA LUMPUR, July 20 — Investors are expected to shift their focus towards Asian currencies, including the ringgit, next week to mitigate uncertainty clouding the US dollar, said UOB Kay Hian Wealth Advisors Sdn Bhd.

KUALA LUMPUR, July 19 — The ringgit closed easier against the US dollar on Friday, taking a breather from its recent rally as market participants continued to take profits while awaiting further developments on the US central bank’s interest rate.

KUALA LUMPUR, July 19 — RAM Ratings Services Bhd projects the Malaysian bond market to likely gain support in July with a “stronger chance” of the United States (US) Federal Reserve (US Fed) cutting interest rates.

KUALA LUMPUR, July 18 — As economic indicators continue to paint a promising picture, optimism surrounding the gross domestic product (GDP) growth has surged, with analysts believing that the economy could grow beyond the initial projections of 4.0 to 5.0 per cent this year.

KUALA LUMPUR, July 19 — Malaysia’s economy is estimated to expand by 5.8 per cent in the second quarter of 2024 (2Q 2024), up from 4.2 per cent in the previous quarter and the highest since 4Q 2022’s 7.4 per cent, according to Department of Statistics Malaysia (DOSM).

KUALA LUMPUR, July 19 — The ringgit rebounded to open slightly higher against the US dollar on positive sentiment ahead of the release of Malaysia’s advance second quarter of 2024 (2Q 2024) gross domestic product (GDP) estimates today.

KUALA LUMPUR, July 19 — Bank Negara Malaysia (BNM) and the Securities Commission (SC) will establish an integrated dispute resolution scheme (IDRS) to be known as the Financial Markets Ombudsman Service (FMOS) for the financial and capital market sector, said the Finance Ministry (MOF).

KUALA LUMPUR, July 19 — The government will continue fiscal reform initiatives, including drawing up the Medium Term Revenue Strategy (MTRS), said the Finance Ministry (MOF).

KUALA LUMPUR, July 18 — The ringgit ended marginally lower against the US dollar due to mild profit-taking after the local currency breached a fresh six-month high earlier today.

KUALA LUMPUR, July 18 — Continuous foreign net inflows into the Malaysian equities market, along with the United States Federal Reserve (US Fed) interest rate cut optimism, are among the reasons that propped up the ringgit to touch a fresh six-month high against the greenback today.

KUALA LUMPUR, July 18 — AmBank Group has projected Malaysia's gross domestic product (GDP) estimates for the second quarter of 2024 (2Q 2024) to register a growth of 5.3 per cent year-on-year (y-o-y) amid sustained domestic demand and better exports.

KUALA LUMPUR, July 18 — The government will support foreign carmakers in bringing in more electric vehicle (EV) models for local assembly, said Deputy Investment, Trade, and Industry Minister Liew Chin Tong today.

KUALA LUMPUR, July 18 — The Credit Guarantee Corporation Malaysia Bhd (CGC), financial institutions and development financial institutions are encouraged to allocate more resources to critical chemicals/petrochemicals, digital, electronics and electrical, and pharmaceutical sectors.

KUALA LUMPUR, July 18 — The Investment, Trade, and Industry Ministry (Miti) maintains the investment growth projection at 5.0 per cent this year despite the domestic economic recovery environment.

KUALA LUMPUR, July 18 — The Investment, Trade and Industry Ministry (Miti), through the efforts of the Digital Investment Office, has recorded approved foreign investments in digital projects worth RM127 billion between 2021 and March this year.

KUALA LUMPUR, July 18 — The Malaysian Halal Council is coordinating efforts with state governments to identify abandoned plots to grow the production of halal products, said Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.

KUALA LUMPUR, July 18 — Malaysian Rating Corporation Bhd (MARC) estimates that a 10 per cent decrease in RON95 fuel subsidies could narrow the fiscal deficit by around 0.2 per cent of the gross domestic product (GDP).

KUALA LUMPUR, July 18 — The ringgit continued to soar and touched a fresh six-month high at the opening today, as the potential of the United States’ interest rate cut propelled the local note.

KUALA LUMPUR, July 18 — The RON95 targeted subsidy mechanism will fully utilise data from the Central Database Hub (Padu), and eligibility for the subsidy will be based on net household disposable income, said the Economy Ministry.

KUALA LUMPUR, July 17 — The ringgit rose against the US dollar on Wednesday, reinforcing expectations that it will hit 4.50 versus the greenback by year-end, according to Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid.