Latest news with #StephenInnes
Barnama
5 hours ago
- Business
- Barnama
Gold Futures End Week Lower On Firm US Jobs Data, Upbeat Trade Sentiment
By Fatin Umairah Abdul Hamid KUALA LUMPUR, July 25 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ends lower on Friday, weighed by strong United States (US) jobs data and improving risk sentiment surrounding trade, said an analyst. SPI Asset Management managing partner Stephen Innes said optimism is building around a potential US-European Union trade deal and a broader Asia-Pacific accord that could include Malaysia. 'The yellow metal is facing headwinds from a stronger dollar and a rotation into risk assets,' he told Bernama. At the close, the spot-month July 2025 contract slipped to US$3,350.0 per troy ounce from US$3,366.8 per troy ounce on Thursday, the August 2025 contract fell to US$3,367.4 per troy ounce from US$3,385.1, and the September 2025 contract dropped to US$3,373.3 per troy ounce from US$3,391.0. The October 2025, December 2025, and February 2026 contracts also settled lower at US$3,402.6 per troy ounce from US$3,420.3 previously. Trading volume inched up to 34 lots from 31 lots, while open interest decreased to 71 contracts from 74 yesterday. Physical gold was priced at US$3,365.85 per troy ounce based on the London Bullion Market Association's afternoon fix on July 24, 2025. -- BERNAMA
Malay Mail
6 hours ago
- Business
- Malay Mail
Ringgit slips against US dollar as traders await clarity on possible Malaysia-US tariff deal
KUALA LUMPUR, July 25 — The ringgit ended lower against the US dollar on Friday, as some investors locked in profits following recent gains, amid lingering uncertainty over the timing of potential Malaysia-United States (US) tariff discussions. At 6pm, the local note eased to 4.2195/2245 against the greenback, compared with Thursday's close of 4.2135/2210. However, the ringgit was firmer against a basket of other major currencies. SPI Asset Management, managing partner Stephen Innes told Bernama that in the absence of fresh catalysts, investors turned to profit-taking, while the stronger greenback globally left the ringgit more exposed. Still, he noted that Japan's recent trade agreement with the US — which included a reduction in auto tariffs from 25 per cent to 15 per cent — could spark expectations of further bilateral deals, potentially involving Malaysia. 'If that happens, it could boost demand for the ringgit,' he said. Bank Muamalat Malaysia Bhd, chief economist Dr Mohd Afzanizam Abdul Rashid echoed the view, noting that the ringgit had slipped 0.1 per cent to 4.2220 against the greenback as the US Dollar Index rose to 97.621 points, likely reflecting profit-taking after the ringgit's 0.5 per cent week-on-week gain. At the close here, the ringgit strengthened against most major currencies. It rose against the Japanese yen to 2.8529/8565 from 2.8751/8804 on Thursday, appreciated versus the British pound to 5.6786/6853 from 5.7080/7182, and edged higher against the euro to 4.9507/9566 from 4.9517/9605. Against regional peers, the ringgit was mostly higher, except for a flat performance against the Indonesian rupiah at 258.5/258.9, almost unchanged from 258.5/259.1 previously. It gained against the Singapore dollar at 3.2937/2978 from 3.2995/3057, rose versus the Thai baht to 13.0268/0478 from 13.0570/0863, and firmed against the Philippine peso to 7.38/7.40 from 7.43/7.45. — Bernama
The Star
6 hours ago
- Business
- The Star
Ringgit ends lower vs greenback as traders await tariff clarity
KUALA LUMPUR: The ringgit ended lower against the US dollar on Friday, as some investors locked in profits following recent gains, amid lingering uncertainty over the timing of potential Malaysia-United States (US) tariff discussions. At 6 pm, the local note eased to 4.2195/2245 against the greenback, compared with Thursday's close of 4.2135/2210. However, the ringgit was firmer against a basket of other major currencies. SPI Asset Management, managing partner Stephen Innes told Bernama that in the absence of fresh catalysts, investors turned to profit-taking, while the stronger greenback globally left the ringgit more exposed. Still, he noted that Japan's recent trade agreement with the US - which included a reduction in auto tariffs from 25 per cent to 15 per cent - could spark expectations of further bilateral deals, potentially involving Malaysia. "If that happens, it could boost demand for the ringgit,' he said. Bank Muamalat Malaysia Bhd, chief economist Dr Mohd Afzanizam Abdul Rashid echoed the view, noting that the ringgit had slipped 0.1 per cent to 4.2220 against the greenback as the US Dollar Index rose to 97.621 points, likely reflecting profit-taking after the ringgit's 0.5 per cent week-on-week gain. At the close here, the ringgit strengthened against most major currencies. It rose against the Japanese yen to 2.8529/8565 from 2.8751/8804 on Thursday, appreciated versus the British pound to 5.6786/6853 from 5.7080/7182, and edged higher against the euro to 4.9507/9566 from 4.9517/9605. Against regional peers, the ringgit was mostly higher, except for a flat performance against the Indonesian rupiah at 258.5/258.9, almost unchanged from 258.5/259.1 previously. It gained against the Singapore dollar at 3.2937/2978 from 3.2995/3057, rose versus the Thai baht to 13.0268/0478 from 13.0570/0863, and firmed against the Philippine peso to 7.38/7.40 from 7.43/7.45. - Bernama
New Straits Times
6 hours ago
- Business
- New Straits Times
Ringgit ends lower versus greenback as traders await tariff clarity
KUALA LUMPUR: The ringgit ended lower against the US dollar on Friday, as some investors locked in profits following recent gains, amid lingering uncertainty over the timing of potential Malaysia-United States (US) tariff discussions. At 6pm, the local note eased to 4.2195/2245 against the greenback, compared with Thursday's close of 4.2135/2210. However, the ringgit was firmer against a basket of other major currencies. SPI Asset Management, managing partner Stephen Innes told Bernama that in the absence of fresh catalysts, investors turned to profit-taking, while the stronger greenback globally left the ringgit more exposed. Still, he noted that Japan's recent trade agreement with the US – which included a reduction in auto tariffs from 25 per cent to 15 per cent – could spark expectations of further bilateral deals, potentially involving Malaysia. "If that happens, it could boost demand for the ringgit," he said. Bank Muamalat Malaysia Bhd, chief economist Dr Mohd Afzanizam Abdul Rashid echoed the view, noting that the ringgit had slipped 0.1 per cent to 4.2220 against the greenback as the US Dollar Index rose to 97.621 points, likely reflecting profit-taking after the ringgit's 0.5 per cent week-on-week gain. At the close here, the ringgit strengthened against most major currencies. It rose against the Japanese yen to 2.8529/8565 from 2.8751/8804 on Thursday, appreciated versus the British pound to 5.6786/6853 from 5.7080/7182, and edged higher against the euro to 4.9507/9566 from 4.9517/9605. Against regional peers, the ringgit was mostly higher, except for a flat performance against the Indonesian rupiah at 258.5/258.9, almost unchanged from 258.5/259.1 previously. It gained against the Singapore dollar at 3.2937/2978 from 3.2995/3057, rose versus the Thai baht to 13.0268/0478 from 13.0570/0863, and firmed against the Philippine peso to 7.38/7.40 from 7.43/7.45.
Straits Times
6 hours ago
- Business
- Straits Times
Singapore shares fall in tandem with most regional indexes, STI declines 0.3%
Find out what's new on ST website and app. City Developments was the top gainer on the STI, closing up 2.9% at $6.38. SINGAPORE - The Straits Times Index (STI) closed lower on July 25, mirroring most regional indexes. The STI fell 0.3 per cent or 11.99 points to 4,261.06. Across the broader market, advancers outnumbered decliners 335 to 245 after 2.2 billion shares worth $1.8 billion changed hands. The trio of local banks closed lower on July 25, with DBS down 0.3 per cent or 15 cents at $49.06. UOB dropped 0.6 per cent or 21 cents to $37.15 and OCBC ended 0.5 per cent or nine cents lower at $17.18. City Developments was the top gainer on the STI, closing up 2.9 per cent or 18 cents at $6.38. The biggest loser was Sembcorp Industries closing down 1.5 per cent or 12 cents at $7.72. Across the region, major indexes were mostly down, with only the Kospi up 0.2 per cent and the Nikkei 225 down 0.9 cent. Hong Kong's Hang Seng Index closed down 1.1 per cent and the KLCI, 0.4 per cent. Top stories Swipe. Select. Stay informed. Singapore SMRT to pay lower fine of $2.4m for EWL disruption; must invest at least $600k to boost reliability Singapore MRT service changes needed to modify 3 East-West Line stations on Changi Airport stretch: LTA Asia Live: Thailand-Cambodia border clashes continue for second day Singapore Vapes: The silent killer hiding in the pocket Singapore Vape disposal bins at 23 CCs for users to surrender e-vaporisers without facing penalties Singapore Fine for couple whose catering companies owed $432,000 in salaries to 103 employees Singapore Tipsy Collective sues former directors, HR head; alleges $14m lost from misconduct, poor decisions Singapore Kopi, care and conversation: How this 20-year-old helps improve the well-being of the elderly The markets are turning cautious as the US and China enter trade talks next week in Stockholm, Sweden, said Mr Stephen Innes, managing partner at SPI Asset Management. Officials will try to stitch a deal together before the Aug 12 expiry, and there are some tricky issues to navigate, namely Chinese industrial overcapacity and relief on export controls and access to more AI components. The 15 per cent tariff pact between Japan and the US is aiding the White House narrative that tariffs are levers and not a lid, he added.
