KUALA LUMPUR, May 8 — The ringgit eased against major and regional currencies including the US dollar at the close on Friday as investors remain cautious ahead of the United States non-farm payrolls (NFP) report amid renewed escalation in the West Asia conflict.

At 6pm, the ringgit inched down against the US dollar to 3.9185/9230 from 3.9070/9115 at Thursday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the NFP is expected to decline to 65,000 in April based on consensus estimates versus 178,000 in March.

“The local note softened by 0.31 per cent in light of the unsettling event in West Asia,” he told Bernama.

Meanwhile, SPI Asset Management managing partner Stephen Innes said profit-taking activities emerged after another West Asia conflict escalation which briefly tested risk sentiment.

He said Iranian attacks on US warships that transited the Strait of Hormuz added a fresh layer of caution towards market sentiment.

“However, the broader ceasefire narrative remains intact after President Donald Trump continued to signal that the truce is still holding,” he said.

Innes said the market still believes in the West Asia conflict de-escalation trade, which should be supportive for Asian currencies and regional risk appetite.

“On the other hand, traders are reluctant to add fresh exposure before the US jobs print, especially if a stronger-than-expected number keeps the US Federal Reserve away from the easing path and supports the greenback,” he added.

At the close, the ringgit traded lower against a basket of major currencies.

It slipped versus the Japanese yen to 2.5010/5040 from 2.4982/5013 at Thursday’s close, eased against the British pound to 5.3354/3416 from 5.3202/3263 yesterday and fell vis-a-vis the euro to 4.6121/6174 from 4.5978/6031 previously.

The local currency was mostly lower against regional peers.

It edged down against the Singapore dollar to 3.0910/0948 from 3.0861/0901 at yesterday’s close, depreciated versus the Thai baht to 12.1640/1844 from 12.1486/1687 previously, and remained unchanged vis-a-vis the Indonesian rupiah at 225.4/225.7.

The ringgit was little changed against the Philippine peso to 6.46/6.47 from 6.46/6.48 at the previous close. — Bernama 

SAN FRANCISCO, May 8 — Generative artificial intelligence is being used by 17.8 per cent of the world’s working-age population, but the gap between wealthy and developing nations continues to widen, according to a report published Tuesday by Microsoft.

In the first quarter of 2026, 27.5 per cent of people aged 15-64 in developed countries used a generative AI tool, compared with 15.4 per cent in the developing world — a gap that widened by 1.5 percentage points from the second half of 2025, according to the report’s estimates.

The divide stems from significant inequality in access to internet connectivity, basic digital skills and electricity, according to the Microsoft AI Economy Institute.

AI model performance — historically stronger in English as most of the major AI companies are based in the US — is also slowing the spread of such tools in non-English-speaking countries.

But progress in processing non-European languages is fuelling a catch-up in adoption in some countries, particularly in Asia, the US tech giant noted.

The United Arab Emirates tops the ranking of AI usage at 70.1 per cent, followed by Singapore, Norway, Ireland and France.

The estimates were based primarily on measurements from computers running Windows and Microsoft products such as Bing and Copilot.

They only partially captured usage on Apple devices, and consolidated data was lacking for Russia, Iran and China.

The United States — home to dominant large AI models like ChatGPT, Claude and Gemini — ranked only 21st, at 31.3 per cent.

AI usage in China — the world’s second-largest economy which is jostling with the US for an edge in the AI race — was 16.4 per cent, the report said.

Pushing back against fears of job losses driven by automation, Microsoft argued in the report that AI coding tools “could increase demand for developer jobs.”

The company cautioned, however, that “it is still too early to know the full impact” of AI on the labor market.

For the first time in its history, the company itself offered voluntary departures to nearly 9,000 of its US-based employees in April.

According to Layoffs.fyi, a private aggregator, nearly 99,000 people have been laid off in the tech sector since January 1, primarily in the United States. — AFP