Malaysian ringgit top loser among Asian FX in first-half, equities mixed

[SBFNews]

A customer counts her ringgit notes outside a money changer at the central business district in Singapore August 25, 2015.

Malaysian ringgit top loser among Asian FX in first-half, equities mixed​

The Malaysian ringgit hit a fresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four years. REUTERS/Edgar Su - RTX1PJJ9
Reuters Images

For the first-half, the ringgit was the biggest loser in emerging Asia, losing 5.8% weighed by capital outflows
Nausheen Thusoo, Reuters News

June 30, 2023

The Malaysian ringgit was set to log a near-6% decline in the first-half of 2023, leading losses among emerging Asian currencies, while equities in Malaysia and Thailand were the biggest losers in a mixed market.

On Friday, most Asian currencies recovered losses from earlier in the day, with the Philippine peso and Thai baht leading gains with a 0.4% appreciation each.

For the first-half, the ringgit was the biggest loser in emerging Asia, losing 5.8% weighed by capital outflows. It was last trading at 4.670 per dollar, hovering close to a near eight-month low.

"Malaysian ringgit has been an underperformer in Asia given sustained foreign equity outflows. That said, a pick-up in growth could turn around sentiment, and we could see USDMYR consolidating around 4.60-4.70 levels in 2H 2023," Wei Liang Chang, a macro strategist at DBS Bank said.

Equities in Malaysia were set to lose 7.7% for the period, and were among the worst performers in the region.

Next week, the Bank Negara Malaysia will meet to decide on its monetary policy. Analysts at Barclays expect the central bank to leave its benchmark rate unchanged.

https://www.zawya.com/en/markets/equities/m...-mixed-c5d96lwl

 

[A Singaporean]

Accept the fact that they needs a Cina PM.

 

[tobelightlight]

But still i wanna move to Malaysia leh, why har? There must be something attractive about Malaysia and fucked up about sg the i wanna move out of it.

 

[syed putra]

Accept the fact that they needs a Cina PM.

What? And end up being the whorehouse of asia like bangkok, macau, dongguan, ? And at one time, sinkie?

 

[k1976]

That ish why 61% agreed we are in Good Hands

 

[k1976]

What? And end up being the whorehouse of asia like bangkok, macau, dongguan, ? And at one time, sinkie?

Use Bumi after 60yrs... Still machiam no improvement. U will need a CECA PM and MahaRaj

 

[Eisenhut]

Wow , boleh sial!!! More tourists, FDI coming to malaysia, huat ah

 

[red amoeba]

the ringgit still has room to drop....Anwar is doing a good job. he is weakening his ringgit to raise competitiveness of malaysian palm oil.

 

[k1976]

Malaysia will need to send it's chiobu to conquer GL200 again.... It is good money De woh

 

[Narong Wongwan]

1 sgd to 4 RM

 

[syed putra]

1 sgd to 4 RM

Why not. Jiu hu then declare open border with sinkie. Badawi proposed that but dr m and his nazi pals went ballistic.

 

[Byebye Penis]

 

[k1976]

That is why luckily we are in good hands

 

[tobelightlight]

That is why luckily we are in good hands

Good hands? U lose ur life by getting vaccinated because of pple running the show saying " we just follow the WHO guidelines" but they drop dead. Important to jab so business can conveniently go on to maintain the currency.

They bring in ceca and create social issues so that to top up the losing birth rate that they dun not know how to solve natively. So the currency is good in the expense of social integrity.

Yeah good hands,kee Lan.