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Nvidia CEO Optimistic About Global Tech Cooperation Under Trump Administration

Nvidia CEO Jensen Huang expressed confidence that global collaboration in science and technology will persist, even amid potential tighter export controls from the incoming Trump administration. Huang on Global Cooperation Despite the Trump administration’s previous restrictions on exporting US technology to China, Huang believes international collaboration remains essential. “Open science and global cooperation across math and science have been the foundation of societal and scientific advancements for a very long time,” Huang stated during a media session in Hong Kong. He emphasized Nvidia's commitment to balancing compliance with laws and policies while continuing to advance technology and serve customers globally. The Age of AI During a speech at the Hong Kong University of Science and Technology (HKUST) , Huang declared, “The age of AI has started — a new computing era that will impact every industry and every field of science.” Highlighting Nvidia’s innovations, he describe

GDP Growth to Hit Upper End of BNM’s Forecast

 

Gross domestic product (GDP) growth in Malaysia is expected to reach the upper end of Bank Negara Malaysia’s (BNM) 4% to 5% target for 2024, according to CIMB Treasury and Markets Research.

Key Takeaways:

  • GDP Growth Projection: CIMB anticipates GDP growth to hit the upper range of BNM’s forecast, following a robust 5.8% year-on-year increase in the advance GDP estimate for the second quarter of 2024 (2Q2024).

  • Contributing Factors:

    • Resilient Labour Market
    • Robust Household Spending
    • Ongoing Multi-Year Investments
    • Increased Foreign Direct Investment (FDI) Realisation
    • Trade Recovery
    • Improving Tourism
  • Ringgit Performance: The ringgit has outperformed its peers, supported by coordinated actions moderating pressure from rate differentials, global developments, and geopolitical risks.

  • Foreign Exchange Flows: BNM has observed healthier two-way forex flows, driven by investment income, export conversions, and fast-track flexibility for corporates to invest abroad. Market-driven interventions aim at managing domestic ringgit liquidity.

  • Government-Linked Investments: Malaysia is directing liquidity towards investments to stimulate growth. Government-linked investment companies are set to allocate between RM400 billion and RM500 billion over the next five years. These investments will focus on developing incentives and regional ecosystems like the Johor-Singapore Special Economic Zone, Forest City, and various industrial park projects.

  • Impact on Securities Yields and Currency Exchange Rates: The implementation of reforms and a stronger foundation for Malaysia’s domestic fundamentals are likely to enhance Malaysia Government Securities yields, targeting 3.75%-3.80% over 12 months. Additionally, improving investor sentiment and potential US policy rate cuts are expected to influence the US dollar to ringgit exchange rate, targeting 4.53 over the same period.

CIMB’s optimistic outlook for Malaysia’s GDP growth is supported by a combination of strong economic fundamentals, strategic investments, and proactive measures by BNM to stabilize the currency and manage liquidity.

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