logo
Ringgit extends gains to close higher amid Japan political uncertainty

Ringgit extends gains to close higher amid Japan political uncertainty

Malay Mail7 days ago
KUALA LUMPUR, July 21 — The ringgit extended its gains against the US dollar at today's close, as the greenback struggled to appreciate amid political uncertainties in Japan, said an analyst.
At 6pm, the ringgit rose to 4.2320/2365 against the greenback, compared to Friday's close of 4.2410/2455.
SPI Asset Management managing partner Stephen Innes said the ringgit trended higher, supported by the election setback for Japan's Prime Minister Shigeru Ishiba's coalition, which did not trigger broader market volatility.
'The absence of contagion allowed Asian and other emerging market currencies, including the ringgit, to edge higher and strengthen modestly,' he told Bernama.
Echoing Innes, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit traded firmer in tandem with a 0.13 per cent decline in the US Dollar Index to 98.268 points, as major currencies such as the euro, yen, and the British pound all appreciated against the greenback.
'Despite uncertainties surrounding Japanese politics, the US dollar is struggling to appreciate, yet this has not resulted in a weak Japanese yen,' he said.
On that note, Mohd Afzanizam said the ringgit was generally firmer against the US dollar, with the pair hovering around RM4.2375 in the afternoon, compared to RM4.2493 during the morning session.
At the close, the ringgit was traded mostly higher against a basket of major currencies.
It strengthened against the British pound to 5.6954/7015 from 5.6999/7060 and advanced versus the euro to 4.9277/9330 from 4.9336/9388 at Friday's close. However, it fell against the Japanese yen to 2.8612/8644 from 2.8517/8549.
Meanwhile, the local note rose vis-à-vis the Singapore dollar to 3.2990/3028 from 3.3027/3065, and gained against the Thai baht to 13.0754/0954 from 13.3027/3065.
Additionally, the ringgit appreciated against the Indonesian rupiah to 259.2/259.6 from 260.2/260.6 and edged up versus the Philippine peso to 7.40/7.41 from 7.41/7.43 previously. — Bernama
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Govt working with Thai counterparts to facilitate goods movement
Govt working with Thai counterparts to facilitate goods movement

New Straits Times

time26 minutes ago

  • New Straits Times

Govt working with Thai counterparts to facilitate goods movement

KUALA LUMPUR: The government remains committed to strengthening strategic cooperation with the Thai Government to facilitate the movement of goods across border checkpoints, including through the Durian Burung entry point in Kedah. Deputy Investment, Trade and Industry (MITI) Minister Liew Chin Tong told the Dewan Rakyat that the government was working closely with Thai counterparts to ease goods movement across the northern border and to support export needs for industries such as Kedah Rubber City. "Miti remains committed to strengthening strategic cooperation with the Thai government to facilitate the movement of goods across border checkpoints, including through the Durian Burung entry point. "This effort requires close collaboration with relevant ministries and agencies, such as the Finance Ministry, Home Ministry, the Immigration Department, the Malaysian Border Control and Protection Agency (AKPS), and the Northern Corridor Implementation Authority (NCIA)," he said in response to a question from Nurul Amin Hamid (PN-Padang Terap). Liew, however, acknowledged that the infrastructure at the ICQS Durian Burung Complex was still inadequate to support large-scale trade operations, especially those involving the use of containers. He said the government, through NCIA, was implementing several strategic initiatives, including conducting a feasibility study for a Border Economic Zone to identify potential economic opportunities that could be developed in the border area, including the KRC and surrounding regions near Durian Burung. Other initiatives include regional cooperation under the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and the Joint Development Strategy (JDS). "These collaborations focus on development in industries such as halal, logistics, rubber, and tourism. The JDS specifically aims to enhance connectivity and international trade policies, strengthening synergy between both countries. "In addition, the Malaysian government remains committed to enhancing strategic cooperation with Thailand through existing platforms such as the Malaysia-Thailand Joint Trade Committee," he said. He added that both parties had agreed to improve trade facilitation, including upgrading infrastructure, logistics systems, and procedures at border checkpoints. These steps, he said, were expected to accelerate Customs clearance processes while reducing time and costs for cross-border goods movement. "Although there have been suggestions to use Songkhla Port in Thailand as an alternative export route, the government is currently focused on maximising the use of domestic ports, especially in Penang and Kuala Perlis. "This initiative aligns with the government's broader strategy to enhance the competitiveness of local ports, while ensuring the economic benefits are fully realised by industry players and local communities," he said. Liew added that the ministry was also open to studying and proposing recommendations to the Finance Ministry to provide various incentives aimed at increasing the usage of local ports when asked on the ministry's short-term plans to encourage investors to use domestic ports for setting up factories or exporting products abroad.

Key Kelana Jaya LRT upgrade to cause service changes on weekends in August, September
Key Kelana Jaya LRT upgrade to cause service changes on weekends in August, September

Malay Mail

time26 minutes ago

  • Malay Mail

Key Kelana Jaya LRT upgrade to cause service changes on weekends in August, September

SUBANG JAYA, July 28 — Prasarana Malaysia Berhad (Prasarana) will undertake a major upgrade of the signalling system on the Kelana Jaya LRT Line between August and November to improve operational efficiency, safety, and reliability. According to Prodyut Dutt, Prasarana's group chief operating officer (strategy and development), the phased upgrade will involve replacing both hardware and software components of the current system, which has been operating on outdated 1980s software. '… sourcing replacement parts has become increasingly difficult. This upgrade is essential to keep the Kelana Jaya Line safe and reliable well into the future,' Dutt said at a briefing today. The project includes migrating the current platform to the latest version of the SelTrac digital railway signalling technology and replacing legacy hardware. Key new features include enhanced data analytics for better performance monitoring an Phased upgrades Dutt explained that while most of the work will take place during non-operational hours to minimise passenger disruption, some service adjustments will be necessary. Phase 1 (June 14 - July 19) has already been completed during routine night-time maintenance windows, as works were confined to depot areas. The upcoming Phase 2 (August 9 - September 14) and Phase 3 (October 11 - November 22) will involve live system testing, requiring late weekend openings. On selected dates during Phases 2 and 3, certain stations will open later at 9am instead of the usual 6am to accommodate real-time testing. Stations not involved in testing will operate on their normal hours. Phase 2 Aug 9, 10, 16, 17, 23: KLCC, Ampang Park, Damai, Dato' Keramat, Jelatek Sept 5, 6, 7, 14: Setiawangsa, Sri Rampai, Wangsa Maju, Taman Melati, Gombak Phase 3 Oct 11, 12, 18, 19: Lembah Subang, Kelana Jaya, Taman Bahagia, Taman Paramount, Asia Jaya, Taman Jaya Nov 1, 15, 16, 22: Universiti, Kerinchi, Abdullah Hukum, Bangsar, KL Sentral, Pasar Seni, Masjid Jamek, Dang Wangi, Kampung Baru, KLCC, Ampang Park Dutt said the new system is expected to extend the lifespan of the existing signalling infrastructure by up to 20 years. As of June 30, over 80 per cent of the design and development work for the new system has been completed.

AsiaInfo Technologies Integrates with NVIDIA Omniverse to Accelerate Smart Manufacturing Transformation
AsiaInfo Technologies Integrates with NVIDIA Omniverse to Accelerate Smart Manufacturing Transformation

Malay Mail

timean hour ago

  • Malay Mail

AsiaInfo Technologies Integrates with NVIDIA Omniverse to Accelerate Smart Manufacturing Transformation

BEIJING, CHINA- Media OutReach Newswire - 28 July 2025 -("AsiaInfo Technologies" or the "Company"; HKEX stock code: 01675), a leading provider of software products, solutions, and services, today announced a strategic integration of its proprietary digital twin platform, AISWare Digital Gemini, MaaS (Model-as-a-Service) platform and intelligent platform, with, a powerful 3D workflow and application platform. This collaboration, combined with AsiaInfo Technologies' robust large model application delivery capabilities, aims to empower the transformation of China's manufacturing industry from "Made in China" to "Intelligent Manufacturing in China."Within the simulated environment built by AsiaInfo Technologies' digital twin platform and NVIDIA Omniverse, customers can conduct virtual scenario construction and training. This, coupled with large model application services, enables the planning, driving, and execution of real-world production activities, accelerating the adoption of AI technology in industrial a versatile tool for designing and building digital twin applications. It offers an exceptional visual experience and flexible scenario construction capabilities, deeply integrating technologies such as big data, IoT, GIS, 3D, new surveying and mapping, BIM, and AI. It provides one-stop digital twin scenario creation, orchestration, and business operation support for various application scenarios including networks, industrial manufacturing, city governance, and a platform comprising APIs, SDKs, and services that allow developers to integrate OpenUSD, NVIDIA RTX™ rendering technology, and generative physical AI into existing software tools and simulation workflows for industrial and robotics use addition, AsiaInfo Technologies' comprehensive large model application delivery capabilities, covering the entire development cycle from demand analysis, consulting and planning, product R&D, implementation and delivery, to operation and maintenance, ensure that industry-specific large models are precisely aligned with customer needs and effectively deployed in industrial manufacturing scenarios. Currently, AsiaInfo Technologies has successfully assisted domestic and overseas manufacturing enterprises in leveraging large models to build maintenance knowledge hubs, predict and diagnose equipment failures, and automate production forward, AsiaInfo Technologies will further deepen the integration of its digital twin platform with NVIDIA Omniverse. The Company will focus on industries such as industrial manufacturing, actively expanding market presence, developing innovative solutions, and driving project implementation and delivery to empower more #AsiaInfoTechnologies The issuer is solely responsible for the content of this announcement.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store