SGD still Strong?

SGD still Strong?

SGD still Strong?

Dropped more than 5% from the peak in Feb vs MYR this year.

USD 4.38 now. Fuyoh. MYR geng. Let's break 4

I'm waiting for the moment

Go Go Go MYR become stronger

Don't need 4.00.... even 4.10 I'm willing to transfer 💪

4.10..that day u say 4.20?

N i tot u DCA?

Me..i last buy USD at 4.51. Now waiting for 4.35. Average down.

I'm waiting for the moment

Go Go Go MYR become stronger

Don't need 4.00.... even 4.10 I'm willing to transfer 💪

what are the main reasons behind RM getting stronger?

what are the main reasons behind RM getting stronger?

SGD still Strong?

SGD rate should correlate with USD.

Given USD will be lower once Feds cut rate, SGD will follow as it maintains the basket of currencies.

"Efforts by the Bank Negara Malaysia [central bank] to encourage state-linked corporates to support the ringgit have helped," said Lloyd Chan, FX strategist at MUFG in Singapore. He said companies have brought back overseas income to Malaysia, and that Kumpulan Wang Persaraan (Diperbadankan), the country's largest state pension fund, has stopped investing overseas.

A stronger Chinese currency in response to the U.S. moving towards cutting rates has helped boost the Malaysian ringgit, said David Forrester, a senior FX strategist at Credit Agricole CIB in Singapore.

"The Malaysian ringgit has been outperforming its Asian peers due to the unwinding of long U.S. dollar-Chinese yuan positions," he said, referring to positions betting on the weakness of the Chinese currency. The Malaysian ringgit is highly correlated with the Chinese currency.

Nikkei Asia | Currencies

Malaysia, Singapore currencies rise on tight policies before Jackson Hole
South Korea and Tawian's currencies slump, reflecting U.S. recession risk

https://archive.ph/1tfyT
Didn't know KWAP has stopped investing outside of Malaysia. All money is trapped in Malaysia now.

KWSP is also going in the same direction. Soon achieve 80% pumped into Bursa. Bag holders got liquidity now, can slowly cash out.

Nikkei Asia | Currencies

Malaysia, Singapore currencies rise on tight policies before Jackson Hole
South Korea and Tawian's currencies slump, reflecting U.S. recession risk

https://archive.ph/1tfyT
Didn't know KWAP has stopped investing outside of Malaysia. All money is trapped in Malaysia now.

KUALA LUMPUR: The Retirement Fund Inc (KWAP) plans to increase its international investment exposure to 30 per cent by 2025 although the local market has recently showed an improved performance.

Chief investment officer Hazman Hilmi Sallahuddin said that as of 2023, 24.4 per cent of KWAP’s investment assets were allocated internationally.

"We are currently on track. The local market is much better than before, but in the long term, we aim to balance our investment exposure to 70 per cent local and 30 per cent international, which we believe is more sustainable," he said during KWAP's financial year 2023 performance results announcement today.

He noted that based on the average 20-year record, international investments had consistently provided better returns.

"I believe it's essential for us to have a more sustainable strategic asset allocation, which is why we have chosen the 70:30 ratio. While both our domestic and international investments are increasing in value, the share of international investments is growing,” he said.

He stressed that this decision does not imply a reduction in domestic investments, but on the contrary, KWAP is increasing its investments in the local market this year.

"However, the percentage increase may not be substantial," he added.

80%????

Since when 🤔

I thought big boss says 70% in local exposure....
Which I think mixture of Equities, MGS, Properties & Others???

https://www.bernama.com/en/news.php?id=2328621



We are steadily working towards that direction.