Ringgit opens higher amid surging oil prices

KUALA LUMPUR: The ringgit opened firmer against the US dollar on Monday amid surging oil prices.

Most Asian currencies strengthen against dollar as Taiwan dollar extends rally

TAIPEH Feb 8 (Reuters): The Taiwan dollar continued to rise sharply on Monday, despite the country's central bank attempting to crackdown on speculation around the currency, while most other emerging Asian currencies also firmed against the US dollar.

Bitcoin powers towards $50K as Tesla takes it mainstream

LONDON (Reuters) - Bitcoin was fast approaching the $50,000 mark on Tuesday as the afterglow of Elon Musk-led Tesla's investment in the cryptocurrency had investors reckoning it may become a mainstream asset class for both corporations and money managers.

Emerging Markets: Thailand and Indonesia make good gains as most Asian currencies strengthen against the dollar

The Taiwan dollar <, best performing currency in the region so far this year, added over 1% despite the central bank's attempts to crackdown on speculation of the currency. Taiwan's central bank said on Sunday it had banned Deutsche Bank from trading Taiwan dollar deliverable and non-deliverable forwards and suspended it for two years from trading forex derivatives. The currency is at its strongest in more than 23 years against the U.S. dollar in a rally fuelled by rising global demand for tech products of the island's trade-dependent economy. Most shares in the region strengthened, tracking broader gains in global equities, on hopes a $1.9 trillion COVID-19 aid package will be passed by U.S. lawmakers soon. Thai, Indian and the Indonesian benchmarks added over 1% each. Malaysia gained as much as 0.5% after government data showed the country's industrial production index rebounded in December after two months of decline. Energy stocks across the region saw solid gains as Brent oil futures neared $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures stoking demand. Thailand's PTT PCL and Malaysian heavyweight Petronas Chemicals Group inched nearly 4% higher. However, trading volumes remained low ahead of the Lunar New Year holiday in most markets. Taiwan's stock and bond markets were closed starting Monday until Feb. 16, while Chinese financial markets will be closed for a week starting Thursday

Taiwan punishes Deutsche Bank, others in currency speculation case

TAIPEI, Feb 7 (Reuters): Taiwan's central bank said on Sunday it had banned Deutsche Bank from trading Taiwan dollar deliverable and non-deliverable forwards and suspended it for two years from trading forex derivatives as part of a crackdown on speculation.

Bursa Malaysia to trade in cautious mode next week

KUALA LUMPUR, Jan 30 (Bernama): Bursa Malaysia is expected to continue to trade in a cautious mode next week, driven by mixed sentiments on the regional and global economic outlook.

Ringgit opens lower on cautious demand

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today on cautious demand for the local currency, an analyst said.

Forex regulator to free up cross-border capital flows

BEIJING: China’s foreign exchange (forex) regulator highlighted specific measures to further promote two-way opening-up of the financial market, mainly through steadily freeing up cross-border capital flows and improving the yuan exchange rate regime.

Global Forex Market

RHB Research keeps Buy for TSH Resources at RM1.25

KUALA LUMPUR: RHB Research has a Buy call on plantation company TSH Resources Bhd with RM1.25, which is a 16% upside, while it increased the FY20-21F earnings by 1%-2%, after imputing new fresh fruit bunches (FFB) revisions, capex and in-house forex assumptions.