A Reuters report that Samsung Electronics is preparing to ship next-generation HBM4 memory to NVIDIA has stirred concerns about competitive pressure on Micron Technology . But for investors, this looks more like a headline risk than a thesis break . What’s the News? (In Plain Terms) Samsung is reportedly ready to start producing HBM4 chips as early as next month Initial shipments to Nvidia could begin soon HBM4 is the next upgrade cycle after today’s HBM3/3E used in AI accelerators This confirms that Samsung is back in the HBM race after lagging SK Hynix and Micron earlier in the AI cycle. Does This Hurt Micron? Short Answer: Not Much (Yet) 1. HBM Is Supply-Constrained, Not Demand-Constrained AI chipmakers (Nvidia, AMD, custom silicon players) are buying every HBM chip they can secure . This is not a “winner takes all” market — it’s a “everyone sells out” market . Even if Samsung qualif...
Summary
The Malaysian ringgit surged to its strongest level in more than seven years, lifted by optimism around AI-driven investments, resilient economic growth and steady monetary policy. Strong foreign inflows into equities and Malaysia’s positioning in the global AI supply chain have turned the currency into Asia’s top performer at the start of 2026.
What’s Driving the Ringgit Higher
The ringgit climbed as much as 0.8% to 3.9750 per US dollar, its strongest level since June 2018, beating most analyst expectations for the first quarter.
Several factors are underpinning the move:
AI and data-centre momentum: Malaysia’s rapid expansion in data centres is attracting foreign investment, supported by ample energy resources and strong infrastructure.
Solid growth outlook: Domestic demand remains resilient, while tourism arrivals are expected to stay strong this year.
Supportive policy backdrop: A steady stance from Bank Negara Malaysia, combined with expectations of further easing by the US Federal Reserve, is narrowing interest-rate differentials.
Foreign investor inflows: Global funds bought US$256 million (RM1.02 billion) of Malaysian equities on a net basis this month, helping push the FTSE Bursa Malaysia KLCI to a seven-year high.
What Strategists Are Saying
OCBC strategists see the ringgit potentially strengthening toward 3.9650 per dollar, supported by gains in regional currencies like the yuan and yen.
Gama Asset Management expects the currency to move toward 3.90 per dollar this quarter.
T Rowe Price described the ringgit as its most constructive emerging-Asia FX call, citing Malaysia’s role as a data-centre hub and strong tourism outlook.
Goldman Sachs highlighted tech exports, foreign direct investment and stable interest rates as key reasons the ringgit could continue outperforming Southeast Asian peers.
Why It Matters for Investors
A stronger ringgit reflects confidence in Malaysia’s structural growth story, particularly in AI-linked industries and high-value exports. While currency strength can pressure some exporters, it also signals:
Lower imported inflation
Stronger foreign investor confidence
Improved macro stability
As long as AI investments, tourism and domestic demand remain firm, analysts expect the ringgit to stay well supported through 2026.
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