Double R set to rock this week!
Our neighbours seem confident. Pagi-pagi Isnin mereka udah speculate yang bagus-bagus untuk Rupiah dan stock market mereka. We should be as confident, if not more, given our fundamentals (No Indonesian detour for our economy: AWO). But true to Malaysian form, we will see the usual suspects doing their damnest to tell the world that all is NOT well in Malaysia, that something's rotten here. Although we've seen them do that many times before, especially in recent weeks and months, there are always Malaysians who will fall for it.
Now, if the analysts are right, and they are not always right, the Ringgit will be testing the 3.90 level from today (the local currency weakened past that level on Aug 6!)
ReplyDelete"While global funds bought a net RM783 million of the nation’s shares last week, outflows this year still stand at RM17.6 billion, surpassing the RM6.9 billion sold for all of 2014, MIDF Amanah Investment Bank said in a report today."
Look beyond the ringgit; the ringgit is volatile.
FDI is the best indicator of confidence.
It is down 41%.
Listen to Tok Pa, please.
ReplyDeleteErrr, no:
"Ringgit in hardest fall in 3 weeks as US Fed signals rates may rise in 2015"
http://www.themalaymailonline.com/money/article/ringgit-in-hardest-fall-in-3-weeks-as-us-fed-signals-rates-may-rise-in-2015
Your efforts to make political capital for your boss are quite amusing, Latuk.
You'll remember how you completely repeated ahrily90's ludicrous assertions that Tong had single-handedly crashed the ringgit, until it was pointed out that errrr, that was impossible even on the alleged figures?
And the confident AmBank boy's demolition of the SWIFT code by Wells Fargo NY, hence the $700 million never got transferred, until one month later the suspect himself admitted that it had actually gone into his personal account?
You went with that, too.
Ahhhhh, you Paid Professionals...birds of a feather : )
Latuk, Latuk, Latuk...bertaubatlah.
ReplyDelete"There is a real difference between helping 1MDB to get out of its current financial mess (which seems to be the focus of the executive) and bringing to justice those (no matter how high up the government hierarchy) who have abused their power to use the finances of 1MDB for their own ulterior motives."
A fine distinction well articulated by Akhbar Satar:
http://www.themalaysianinsider.com/sideviews/article/justice-must-prevail-akhbar-satar
The ringgit is a sideshow.
Let's hope it bounces back.
But the institutions of govt are being abused to cover up.
"If 1MDB does not comply with Bank Negara's directives, this will be a very dangerous precedent where parties at fault are able to give excuses and justifications to avoid compliance."
Above all, let's for forget those people who were sacked, transferred, arrested or intimidated in order to cover this corrupt mess.
That's the issue, not the ringgit.
ReplyDeleteRinggit jatuh hari ni. Tak nak komen ke?
Markets move. That what markets do.
Najib is a criminal despite what markets do.
ReplyDelete"Markets move. That what markets do.
Najib is a criminal despite what markets do."
Excellent.
Tabik bro.
IU am glad YOU think everything is right in this sad fiasco. 1MDB has dragged Malaysia's name in the mud. And it will remain there until someone has the balls to bring the culprits to justice. That's why the Malay Rulers spoke out.
ReplyDelete