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Asia markets mixed as investors await key U.S., China economic data

4 Hours Ago

Malaysia’s government expects ringgit to appreciate this year

Malaysia’s Second Finance Minister Amir Hamzah Azizan is optimistic the value of the country’s ringgit currency will appreciate this year amid positive economic fundamentals and prospects, he told parliament on Thursday according to Reuters.

The report noted he said the government will not peg the ringgit as it did during the Asian financial crisis. Malaysia’s former prime minister pegged the ringgit to the U.S. dollar in 1998 at the height of the Asian financial crisis, a move that lasted until July 2005.

The ringgit has lost more than 4% since the start of the year, and briefly weakened past 4.8 to a 26-year low just last week. The currency’s all time low was 4.8800 against the greenback in 1998, according to data from LSEG.

The currency last traded at 4.758 against the dollar.

—Reuters, Lee Ying Shan

5 Hours Ago

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