KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
The SGD is under pressure — and August could bring more headwinds.
As the US ramps up tariff threats on pharma and semiconductors — two of Singapore’s top exports — and with speculation mounting that the Monetary Authority of Singapore (MAS) could ease its currency policy this month, the SGD may face further downside.
Key Takeaways:
SGD may slide to S$1.30 vs. USD in the near term
Trump’s new tariffs (possibly by Aug 1) could weigh heavily on SG exports
June core inflation data (out July 23) expected at only +0.7%, reinforcing easing case
MAS may flatten the S$NEER slope by 50bps to 0%, capping SGD strength
With S$NEER near the top of the band, flattening = weaker SGD vs trading partners
Experts Say:
“The tariff uncertainty could add to growth headwinds for Singapore in H2.”— Moh Siong Sim, Bank of Singapore
“We expect MAS to ease policy this month... the bias is for further SGD weakness.”— Priyanka Kishore, Asia Decoded
What to Watch:
July 23: SG inflation data
MAS policy meeting later this month
Trump’s Aug 1 tariff deadline
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