{
}
JPMorgan Chase has acknowledged a misstep in its strategy to bet against emerging market currencies, which have outperformed the US dollar since April 2nd. The bank has shifted its stance from underweight to overweight on Asian currencies, now bullish on the Malaysian ringgit and expecting stability in the Chinese Yuan. Amid rising recession risks, JPMorgan's analysts caution that US equities may no longer be a safe haven for investors.
Malaysian Prime Minister Anwar Ibrahim announced that the US is open to discussions on reducing tariffs on Malaysian exports, with a 24% tariff set to take effect in July unless an agreement is reached. He noted that Malaysia may not meet its economic growth target of 4.5% to 5.5% this year due to the global trade war, while the central bank is likely to revise growth forecasts downward. Despite challenges, Malaysia's trade volume increased by 9.2% in 2024, reflecting a strategic diversification in response to US tariffs.
Zus Coffee plans to open nearly 200 new stores in Southeast Asia by 2025, including 107 in Malaysia, 80 in the Philippines, and its first locations in Thailand and Indonesia. The chain has surpassed Starbucks as Malaysia’s largest coffee operator, capitalizing on Starbucks' recent decline due to geopolitical tensions affecting its local operator.With a technology-driven model, Zus Coffee reported a threefold increase in net income to 37 million ringgit (US$8.4 million) in 2024, with 70% of sales from online orders. Their strategy of localizing flavors and reducing operational costs allows them to offer products over 20% cheaper than Starbucks, effectively creating a new market segment in Malaysia.
UBS Group AG has entered an exclusive partnership with India's 360 One WAM Ltd, transferring its onshore wealth management business in India to the firm while acquiring a 4.95% stake valued at 21 billion rupees. This move aims to enhance UBS's presence in India's growing wealth market, despite facing stiff competition. The partnership is seen as a significant step for UBS in Asia, with potential for further developments in the future.
U Mobile has partnered with Huawei and ZTE to deploy Malaysia's 5G network using a dual model, with Huawei managing West Malaysia and ZTE overseeing East Malaysia. The company aims for 80% coverage in populated areas within 12 months, increasing to 90% the following year, while maintaining competitive wholesale rates similar to current operators. This strategy reflects Malaysia's distinct approach to 5G deployment amid global security concerns surrounding Chinese vendors.
Chinese President Xi Jinping arrived in Malaysia on April 15, 2025, for a three-day state visit aimed at strengthening trade relations amid US tariff threats. Discussions with Malaysia’s King and Prime Minister Anwar will focus on signing agreements to address economic challenges, particularly as Malaysia faces potential tariffs impacting its exports. The evolving Malaysia-China trade relationship, marked by significant growth and strategic partnerships, highlights the complexities of navigating economic ties in a competitive global landscape.
[Source]
Oil prices plummeted to a four-year low, marking the worst five-day drop since 2022, as escalating trade tensions between the US and China raised fears of a global recession. The US imposed significant tariffs on Chinese goods, prompting retaliatory measures from China and causing a sharp decline in commodity prices, including copper and iron ore. While China's oil demand growth is at risk, potential domestic stimulus could help mitigate losses.
The Indonesian rupiah opened at a record low of 16,898 per US dollar on April 7, falling 1.47%. It led declines among Asian currencies, with the Taiwan dollar, Malaysian ringgit, and Philippine peso also weakening. In contrast, the Japanese yen gained 0.49% against the dollar.
The US dollar weakened on April 3 after President Trump announced new tariffs on imports, set to take effect on April 9, imposing a 10% baseline levy on goods from 60 countries. This move raised concerns about a potential global economic slowdown, leading to declines in global stocks and increased demand for bonds and gold. The dollar index fell to 102.98, its lowest since October, reflecting a 4% decline this year, while Asian currencies struggled, with China's yuan hitting its weakest levels in months.
Malaysian Ringgit
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
jpmorgan chase reevaluates emerging market currency strategy amid dollar weakness
Chinese Yuan
United States Dollar
New Taiwan Dollar
Malaysian Ringgit
CHN
MYS
USA
TWN
Donald Trump
Mislav Matejka
Show more
16:30 11.05.2025
us and malaysia discuss potential tariff reductions amid trade tensions
09:40 05.05.2025
zus coffee plans aggressive expansion in southeast asia amid starbucks decline
United States Dollar
Malaysian Ringgit
Berjaya Food Berhad
Starbucks Corp
SGP
THA
PHL
MYS
IDN
Show more
07:06 24.04.2025
ubs partners with 360 one to enhance wealth management in india
Indian Rupee
Malaysian Ringgit
United States Dollar
Sumitomo Mitsui Trust Holdings Inc
360 One Wam Ltd.
UBS Group AG
IND
CHE
CHN
JPN
Kubra Khan
Vikram Malhotra
Show more
06:00 22.04.2025
U Mobile partners with Huawei and ZTE for Malaysia's 5G rollout
Malaysian Ringgit
United States Dollar
ZTE Corporation
Huawei Technologies CO. Ltd.
MYS
CHN
Vincent Tan
04:50 16.04.2025
xi jinping visits malaysia amid us tariff challenges and trade discussions
Malaysian Ringgit
Chinese Yuan
United States Dollar
Apple Inc.
MYS
USA
CHN
Xi Jinping
Anwar Hussain
Sultan Ibrahim ibni Sultan Iskandar
Show more
02:30 16.04.2025
oci delays malaysia ipo amid polysilicon market challenges and trade uncertainties
10:45 14.04.2025
oil prices plunge amid escalating us china trade war tensions
Malaysian Ringgit
Chinese Yuan
United States Dollar
Brazilian Real
USA
CHN
Donald Trump
Ye Lin
Show more
08:48 09.04.2025
indonesian rupiah hits record low against us dollar as regional currencies decline
Malaysian Ringgit
Indonesian Rupiah
Filipino Peso
United States Dollar
New Taiwan Dollar
Apple Inc.
HKG
TWN
SGP
THA
KOR
JPN
IDN
PHL
MYS
Show more
04:53 07.04.2025
us dollar declines as trump announces new tariffs on imports
Chinese Yuan
Malaysian Ringgit
South Korean Won
Japanese Yen
Swiss Franc
Apple Inc.
MEX
CHN
MYS
USA
THA
CAN
KOR
Donald Trump
Ursula von der Leyen
Show more
09:00 03.04.2025
Trending
Subcategory
Corporate News
Industry Trends
Startups & Entrepreneurship
Consumer Protection Regulations
Industry Mergers & Acquisitions
Retail and Consumer Goods
Software Development Trends
AI Innovations
Venture Capital Investments
Cybersecurity Innovations & Tech
AI & Automation Regulations
Economic Indicators
Emerging Startups
Funding Rounds & Investments
Anti-Money Laundering (AML) Regulations
Cybersecurity Laws
AI & Automation Ethics
AI Applications
Fintech Startups
Global Trade Developments
Countries:
Companies:
Google Inc.
Google LLC
Oravel Stays Ltd.
Apple Inc.
Nvidia Corporation
Microsoft Corporation Corp.
Shutterstock Inc.
ProSus
Aristo BIO-Tech AND Lifescience Ltd.
IFL Enterprises Ltd.
Imarticus Learning Ltd.
Amazon.com Inc.
Nestlé SA
Patanjali Ayurved Ltd.
Patanjali Foods Ltd.
Alphabet Inc.
Temenos AG
Currencies:
People: