The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

The ringgit closed slightly lower on Tuesday against the greenback after Asian foreign exchange (FX) markets displayed mixed performance against the US dollar.

Ringgit closes lower against US dollar 

The ringgit lost ground slightly against the US dollar as the market awaits more macro data releases this week, including the US advance gross domestic product (GDP) for the first quarter and March personal consumption expenditures (PCE) data to gauge the future interest rate outlook.

Ringgit opens slightly easier against US dollar

The ringgit gained some ground against the US dollar at the closing today following a decline in the US dollar index (DXY), said an analyst.

Ringgit gains ground as US dollar index retreats

The ringgit traded lower against the US dollar in early trade on Monday amid the ongoing Middle East tension that has kept crude oil prices elevated, resulting in further challenges for central banks to meet their inflation goal this year that would result in a higher for longer interest rate environment, especially in the US.

Ringgit turns soft against US dollar as volatility rises

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

The ringgit opened easier against the US dollar on Friday as the greenback strengthened further following the Federal Reserve’s (Fed) official hawkish stance.

Ringgit opens lower against dollar on US Fed’s hawkish stance

Foreign investors continued purchasing Japanese stocks in the week to April 12, driven by a weaker yen and robust performance in chip-related stocks.

Foreigners remain buyers of Japanese stocks in week to April 12

The International Monetary Fund said the yen's recent declines, while "quite significant," largely reflect the interest-rate differential between Japan and the US, suggesting that its moves were largely in line with economic fundamentals.

IMF says yen's declines 'significant' but reflect rate differentials

The US dollar's dominant reserve currency status is likely to endure partly because even the most talked about alternative the Chinese yuan falls short as a credible challenger, Morgan Stanley said in a report on Thursday.

Rivalry with China, Russia's war in Ukraine, wrangling in Washington over the US debt ceiling and rising debt levels have put the dollar's status as the world's dominant currency under scrutiny in recent years.

Dollar's dominant reserve currency status to endure, says Morgan Stanley

Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.

State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.

Indonesia tells state firms to refrain from buying dollars

Indonesia's economy was primed for monetary easing later this year, but an unwelcome plunge in its currency is complicating matters for Bank Indonesia and could force it to grudgingly raise rates as early as next week.

Indonesia's plunging rupiah twists the policy plot

The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.

Ringgit extends gains against US dollar at opening

The ringgit remains resilient despite the strengthening US dollar amid expectations that the US Federal Reserve (Fed) would maintain interest rates higher for longer.

Economist Dr Geoffrey Williams said all currencies are suffering against the greenback globally, and the ringgit is more resilient at present because Bank Negara Malaysia (BNM) has been effective in managing the market.

Ringgit remains resilient despite strengthening US dollar

The interim report on the tragedy of two Royal Malaysian Navy (RMN) helicopters crashing in Lumut, Perak on Tuesday will be ready within two weeks, said Communications Minister Fahmi Fadzil.

Interim report on helicopters' crash to be ready in two weeks, says Fahmi

The European Commission launched a probe into China's public procurement of medical devices on Wednesday, the latest in a series of moves that ratchet up trade tensions ahead of President Xi Jinping's visit to Europe next month.

EU launches investigation into Chinese medical device market

Perlis Menteri Besar Mohd Shukri Ramli confirmed that he knew about his son being arrested by the Malaysian Anti-Corruption Commission (MACC), and will leave it to the authorities to complete their investigation.

Perlis MB knows about son's arrest, leaves it to MACC to investigate

Taiwan President Tsai Ing-wen said on Wednesday she was happy the US Congress had passed a sweeping foreign aid package which includes arms support for the island, as China urged Washington to stop selling weapons to Taipei.

Taiwan happy with US aid package, China objects to arms sales

Immigration officers are not allowed to reject any passport renewal or first-time application solely because the applicant fails to master the national language, said Immigration director general Datuk Ruslin Jusoh.

“I would like to clarify that in fulfilling their responsibilities, immigration officers will conduct random checks in various aspects to verify applications.

Immigration officers not allowed to reject passport renewals based on language fluency, says DG

Former Tronoh assemblyman Paul Yong Choo Kiong has filed an appeal at the Federal Court against the Court of Appeal's decision in upholding his conviction for raping his maid five years ago.

Paul Yong takes rape conviction appeal to top court

World stocks rose on Wednesday led by tech names as investors' focus shifts to earnings from US megacap bellwethers this week, while the yen remained mired near 34-year lows, keeping traders wary of intervention from Japanese authorities.

Shares jump on tech boost; fragile yen on intervention watch

(April 24): Foreign investors have sold Indonesian stocks for 15 straight days, the longest stretch since January 2023, on expectations of a prolonged period of higher interest rates and a stronger US dollar.

Global funds sell Indonesian stocks in longest streak in a year

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

World’s biggest energy traders are returning to metals

Chinese developer Country Garden Holdings Co, one of the biggest symbols of the nation’s broader property debt crisis, won approval to push back payments on three yuan bonds, people familiar with the matter said, staving off its first local default for now.

Country Garden extends bonds to avoid first local default, Bloomberg reports

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

Carlsberg Malaysia raises prices of beers to preserve margin

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

Tesla to accelerate launch of cheaper cars after sales miss

KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.

Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.

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