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Malay Mail
3 days ago
- Business
- Malay Mail
Ringgit rallies to six-week high at 4.18 on US Fed rate cut bets, solid local outlook
KUALA LUMPUR, Aug 14 — The ringgit strengthened to the 4.18 level versus the US dollar, marking its highest point in more than six weeks, buoyed by rising expectations of a United States (US) Federal Reserve (Fed) rate cut cycle and Malaysia's resilient macroeconomic outlook. The local note opened at 4.2045/2160 today compared to Wednesday's close of 4.2040/2085, before appreciating to 4.1865 as of 9.59am. The last time the ringgit traded at a similar high was on July 1, when it touched 4.1805. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the ringgit's position around the 4.20 mark is both technically and psychologically significant for the market. 'While 4.20 is not a hard technical pivot in the strict chartist sense, it represents a symbolic benchmark for investor sentiment, particularly as the last sustained levels below this mark were seen in early July. 'A decisive break and hold below 4.20 would reinforce the view that the currency has entered a new appreciation phase,' he told Bernama. He attributed the ringgit's recent strength to market optimism that the Fed will deliver at least two rate cuts before year-end, with further easing likely to continue into 2026. This follows US Treasury Secretary Scott Bessent's call yesterday for the Fed to lower its benchmark rate by at least 1.5 percentage points, reinforcing market expectations of a more aggressive easing cycle, he said. Mohd Sedek said external factors are being complemented by domestic catalysts, particularly the 13th Malaysia Plan announcement, outlining clear policy directions, targeted investment incentives and sectoral development plans. These, he added, could bolster investor confidence, enhance capital inflows and strengthen the ringgit's fundamentals. 'Malaysia's steady gross domestic product growth, a resilient current account surplus and improving foreign investment momentum, particularly in high-value sectors such as electrical and electronics, renewable energy and data centres, provide a solid domestic foundation for currency appreciation,' he said. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid shared a similar view, describing the current ringgit level as 'more of a psychological marker' as sentiment turns increasingly positive. 'We now have two dissenters in the Federal Open Market Committee who favoured a rate cut in the July meeting, and the US labour market is showing signs of weakness, judging from the significant downward revision in US non-farm payrolls. 'Inflation is fairly stable, and the US Treasury has even suggested a 50-basis-point cut could happen in the September meeting. This is essentially ringgit-positive or dollar-negative,' he said. Looking ahead, Mohd Sedek forecasts the ringgit to strengthen to 4.10 by the end of 2025 and extend its uptrend towards 4.05 by the end of the first quarter of 2026. 'If the ringgit decisively holds below 4.20 in the coming weeks, the next levels to watch will be 4.18 and 4.15. A sustained move below 4.15 would confirm the structural shift towards our 4.05 target,' he added. — Bernama
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Bursa extends rally to 5th day, ends above 1,560 resistance level
KUALA LUMPUR : Bursa Malaysia extended its rally for the fifth consecutive day, breaching the 1,560 resistance level, underpinned by renewed investor appetite for data centre plays and improving signals from geopolitical trade negotiations. The positive performance, in tandem with regional markets, was also supported by growing confidence in a potential US Federal Reserve rate cut at the upcoming federal open market committee meeting, although caution remains ahead of the US-China tariff deadline on Aug 12. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said Malaysia is strategically positioned for substantial expansion in the data centre sector during the second half of 2025 (H2 2025), anchored by ongoing construction activity and large-scale capital inflows into the Johor-Singapore Special Economic Zone. 'Several global hyperscalers, particularly operators based in the US, are spearheading this growth. 'While potential US artificial intelligence chip export restrictions remain a headline risk, we expect the broader data centre upcycle to remain intact given the structural demand drivers at play,' he told Bernama. He expects the upcoming Budget 2026, set for Oct 10, to be a strategic platform for Prime Minister Anwar Ibrahim to announce major infrastructure projects ahead of the next general election, creating a pipeline for accelerated project rollouts in 2026. On the geopolitical front, Sedek highlighted two key developments in focus: the upcoming deadline for US-China tariffs tomorrow and the global sentiment driven by falling oil prices and optimism surrounding US president Donald Trump and his Russian counterpart Vladimir Putin's summit in Alaska on Aug 15. On the US-China tariffs deadline, US commerce secretary Howard Lutnick signalled last Thursday that a 90-day extension to the tariff truce is likely – the strongest indication yet of a temporary reprieve since bilateral talks concluded in Stockholm last week. 'The Trump-Putin summit could open the door to progress in resolving the war in Ukraine,' he added. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.26 points or 0.4% to close at 1,563.24 from last Friday's close of 1,556.98. The benchmark index, which opened 0.76 of-a-point higher at 1,557.74, moved between 1,554.95 and 1,565.44 throughout the trading session. The broader market was positive, with advancers leading decliners 513 to 480, while 510 counters were unchanged, 1,020 untraded and nine suspended. Turnover improved to 2.54 billion units worth RM2.2 billion from 2.43 billion units worth RM2.22 billion last Friday. Among the heavyweights, Maybank added four sen to RM9.65, Public Bank gained seven sen to RM4.40, CIMB perked up eight sen to RM6.94, while Tenaga Nasional eased 14 sen to RM13.66 and IHH Healthcare was flat at RM6.96. Of the most active counters, Classita and Mtouche Technology went up one sen each to nine sen and two sen respectively, Top Glove put on 1.5 sen to 61 sen, NexG slid 16 sen to 37.5 sen, and Tanco gave up two sen to 74.5 sen. Across the broader market, the FBM Emas Index increased 45.34 points to 11,647.13, the FBMT 100 Index advanced 49.81 points to 11,429.72, the FBM Emas Shariah Index edged up 13.49 points to 11,647.67, the FBM ACE Index expanded 13.34 points to 4,620.22, and the FBM 70 Index climbed 90.11 points to 16,595.64. By sector, the financial services index surged 147.01 points to 17,727.83, the industrial products and services index perked up 1.02 points to 158.78, and the plantation index put on 37.96 points to 7,464.08, while the energy index eased 1.36 points to 735.36. The Main Market volume rose to 1.52 billion units valued at RM2.01 billion from 1.46 billion units valued at RM2.04 billion last Friday. Warrants turnover advanced to 732.96 million units worth RM90.85 million from 715.6 million units worth RM89.04 million previously. The ACE Market volume increased to 279.82 million units worth RM90.63 million from 250.96 million units worth RM92.31 million last Friday. Consumer products and services counters accounted for 261.84 million shares traded on the Main Market; industrial products and services (187.11 million), construction (127.58 million), technology (372.25 million), financial services (76.72 million), property (145.7 million), plantation (20.83 million), REITs (41.06 million), closed-end fund (44,500), energy (80.55 million), healthcare (114.26 million), telecommunications and media (18.25 million), transportation and logistics (16.79 million), utilities (59.43 million), and business trusts (169,500).
Business Upturn
09-05-2025
- Business
- Business Upturn
The Kelley Financial Group Wins ‘Best-In State Wealth Advisors' Award for 4th Consecutive Year
Sewickley, PA , May 08, 2025 (GLOBE NEWSWIRE) — The Kelley Financial Group is proud to announce that for the fourth consecutive year, Micah Kelley has been named one of the Best-in-State Wealth Advisors by Forbes for 2025. This prestigious recognition highlights the unwavering dedication and expertise that The Kelley Financial Group brings to clients, helping them achieve their financial goals with personalized strategies and insights. For over a decade, Micah Kelley has led The Kelley Financial Group, working tirelessly to ensure that his clients receive exceptional financial guidance. Receiving the Forbes Best-in-State Wealth Advisors honor for four consecutive years is a significant achievement and speaks volumes about Micah's commitment to excellence in wealth management. The Kelley Financial Group Micah's deep passion for understanding his clients' financial aspirations, combined with his team's dedication to providing tailored solutions, has been the cornerstone of The Kelley Financial Group's success. As Micah reflects on this honor, he attributes much of his success to the trust his clients place in him. 'I'm sincerely humbled to be named one of the Forbes Best-in-State Wealth Advisors and know it wouldn't be possible without your trust in me and my entire team at The Kelley Financial Group.' This recognition comes at a time when the financial landscape is more complex than ever, and the demand for expert and trustworthy financial advisors continues to rise. With a diverse team of financial experts, The Kelley Financial Group offers a full range of services, including investment management, retirement planning, tax strategies, and estate planning. Clients trust The Kelley Financial Group for its personalized and comprehensive approach to achieving financial security. The team's ability to provide tailored financial strategies for clients from all walks of life is a key factor in its ongoing success. From young professionals to retirees, The Kelley Financial Group is dedicated to guiding clients through all stages of their financial journey to help them build wealth and prepare for a secure future. Micah and his team are driven by the belief that financial planning should be accessible to everyone, regardless of their life stage. 'It continues to be my privilege to work together in your financial planning journey. If ever your family or friends are seeking financial guidance, it would be my pleasure to help them in their financial journey as well,' said Micah. The Kelley Financial Group serves clients across multiple states and offers a variety of financial services that can be customized to meet the unique needs of each individual or family. The team takes a comprehensive approach to financial planning, ensuring clients receive guidance that fits their long-term goals. The firm also stays ahead of industry trends and provides clients with innovative solutions that maximize their financial potential. To learn more about The Kelley Financial Group and its wealth management services, visit their website at About The Kelley Financial Group The Kelley Financial Group is a leading wealth management firm based in Sewickley, PA. With a focus on personalized financial strategies, it offers comprehensive services in investment management, retirement planning, tax strategies, and estate planning. Led by Micah Kelley, the firm is dedicated to helping clients achieve their financial goals and secure their future. ### Media Contact The Kelley Financial Group 1605 Carmody Ct #301, Sewickley, PA 15143 Phone: (412) 528-1920 Website: Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
08-05-2025
- Business
- Yahoo
The Kelley Financial Group Wins ‘Best-In State Wealth Advisors' Award for 4th Consecutive Year
Forbes honors Micah Kelley and The Kelley Financial Group for their continued excellence in financial advisory services in 2025. The Kelley Financial Group Wins 'Best-In State Wealth Advisors' Award for 4th Consecutive Year Sewickley, PA , May 08, 2025 (GLOBE NEWSWIRE) -- The Kelley Financial Group is proud to announce that for the fourth consecutive year, Micah Kelley has been named one of the Best-in-State Wealth Advisors by Forbes for 2025. This prestigious recognition highlights the unwavering dedication and expertise that The Kelley Financial Group brings to clients, helping them achieve their financial goals with personalized strategies and insights. For over a decade, Micah Kelley has led The Kelley Financial Group, working tirelessly to ensure that his clients receive exceptional financial guidance. Receiving the Forbes Best-in-State Wealth Advisors honor for four consecutive years is a significant achievement and speaks volumes about Micah's commitment to excellence in wealth management. The Kelley Financial Group Micah's deep passion for understanding his clients' financial aspirations, combined with his team's dedication to providing tailored solutions, has been the cornerstone of The Kelley Financial Group's success. As Micah reflects on this honor, he attributes much of his success to the trust his clients place in him. 'I'm sincerely humbled to be named one of the Forbes Best-in-State Wealth Advisors and know it wouldn't be possible without your trust in me and my entire team at The Kelley Financial Group.' This recognition comes at a time when the financial landscape is more complex than ever, and the demand for expert and trustworthy financial advisors continues to rise. With a diverse team of financial experts, The Kelley Financial Group offers a full range of services, including investment management, retirement planning, tax strategies, and estate planning. Clients trust The Kelley Financial Group for its personalized and comprehensive approach to achieving financial security. The team's ability to provide tailored financial strategies for clients from all walks of life is a key factor in its ongoing success. From young professionals to retirees, The Kelley Financial Group is dedicated to guiding clients through all stages of their financial journey to help them build wealth and prepare for a secure future. Micah and his team are driven by the belief that financial planning should be accessible to everyone, regardless of their life stage. 'It continues to be my privilege to work together in your financial planning journey. If ever your family or friends are seeking financial guidance, it would be my pleasure to help them in their financial journey as well,' said Micah. The Kelley Financial Group serves clients across multiple states and offers a variety of financial services that can be customized to meet the unique needs of each individual or family. The team takes a comprehensive approach to financial planning, ensuring clients receive guidance that fits their long-term goals. The firm also stays ahead of industry trends and provides clients with innovative solutions that maximize their financial potential. To learn more about The Kelley Financial Group and its wealth management services, visit their website at About The Kelley Financial Group The Kelley Financial Group is a leading wealth management firm based in Sewickley, PA. With a focus on personalized financial strategies, it offers comprehensive services in investment management, retirement planning, tax strategies, and estate planning. Led by Micah Kelley, the firm is dedicated to helping clients achieve their financial goals and secure their future. ### Media Contact The Kelley Financial Group 1605 Carmody Ct #301, Sewickley, PA 15143 Phone: (412) 528-1920 Website: The Kelley Financial Group Wins 'Best-In State Wealth Advisors' Award for 4th Consecutive Year
