Mental health parity laws have been passed to ensure equal coverage of mental and physical health conditions, but access to quality, affordable care remains a challenge for millions of Americans.

 

KUALA LUMPUR, June 9 — The ringgit opened higher against the US dollar and most major currencies today, tracking a slight pullback in the US Dollar Index (DXY) amid easing tensions in West Asia.

At 8 am, the local note appreciated to 4.0665/0780 against the greenback from Monday’s close of 4.0715/0760.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the DXY fell slightly to 99.98 points as Iran and Israel appeared to be moving towards easing strikes against each other, although such pledges remain fluid.

“Market sentiment is likely to stay cautious ahead of the US consumer price index (CPI) release tomorrow.

“In light of the ongoing war and its impact on fuel prices, amid the strong non-farm payrolls (NFP) outturn last week, the Federal Reserve is likely to maintain its restrictive monetary policy stance,” he told Bernama.

The ringgit traded mostly higher against a basket of major currencies. 

It appreciated against the British pound to 5.4219/4372 from 5.4249/4309 and gained against the Japanese yen to 2.5385/5459 from 2.5445/5475, but slid against the euro to 4.6879/7011 from 4.6867/6919 at yesterday’s close.

The local currency was also higher against regional peers.

It improved versus the Singapore dollar to 3.1548/1639 from 3.1577/1614, was up against the Thai baht at 12.3639/4049 from 12.3942/4128, strengthened against the Philippine peso to 6.59/6.61 from 6.60/6.61, and rose against the Indonesian rupiah to 223.5/224.3.2 versus 223.8/224.2 on Monday. — Bernama

 

 

 

KUALA LUMPUR, June 10 — The ringgit opened higher against major currencies but eased against the US dollar today, as market sentiment remained cautious ahead of the release of the United States Consumer Price Index (CPI) data tonight.

At 8 am, the local note depreciated to 4.0600/0640 against the greenback from Tuesday’s close of 4.0580/0630.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the foreign exchange market is expected to remain guarded ahead of the highly anticipated US CPI report.

“Bond traders appear to be upping their bets for a 25-basis-point interest rate hike by the US Federal Reserve this year, in light of the robust jobs data and higher inflation expectations going forward.

“This could mean that the US dollar would be well supported in the near term,” he told Bernama.

The ringgit traded higher against a basket of major currencies. 

It rose against the Japanese yen to 2.5312/5338 from 2.5332/5365 at Tuesday’s close, was higher versus the British pound to 5.4286/4340 from 5.4329/4395, and gained against the euro to 4.6832/6878 from 4.6915/6972 previously.

The local currency mostly strengthened against regional peers.

It appreciated versus the Singapore dollar to 3.1536/1570 from 3.1563/1604 yesterday, and was up against the Thai baht at 12.3239/3432 from 12.3531/3732 previously.

However, it was marginally lower against the Indonesian rupiah to 224.8/225.1 versus 224.7/225.1, and was unchanged against the Philippine peso at 6.59/6.60 as the previous close. — Bernama

 

SEOUL, June 8 — Nvidia on Monday announced a series of deals in South Korea with tech giants including SK Hynix and Naver, as it looks to secure crucial memory chips to power its AI ambitions and entice new customers.

The agreements come during a high-profile trip by Nvidia CEO Jensen Huang to South Korea that began on Friday and has seen him dine on grilled pork belly and local spirit soju with the country’s top corporate bosses, throw a baseball pitch and meet with a well-known gamer.

Nvidia and its partners, which also included SK Telecom and conglomerate Doosan Group, did not disclose the value of the deals.

SK Group, South Korea’s second-largest family-owned conglomerate, said its SK Hynix and SK Telecom arms had agreed deals with Nvidia.

Memory chip maker SK Hynix signed a multi-year technology partnership that will see it commit to developing advanced types of memory for global AI data centres, SK Group said.

SK Hynix and Nvidia said the agreement, which comes as memory chip makers have been straining to keep up with demand, would enable supply to keep pace with Nvidia’s plans, which have expanded to robotics, personal computers and AI supercomputers.

“SK Hynix has been Nvidia’s largest memory partner. SK Hynix will continue to be Nvidia’s largest memory partner,” Huang said after a meeting with SK Group Chairman Chey Tae-won at the headquarters of the chipmaker’s parent.

Huang said the deal with SK Hynix, a rival to Samsung Electronics and US-based Micron Technology, was for more than two years with the option to keep extending.

“We already procure and we buy from SK Hynix already billions and billions of dollars each year, and it’s going to grow substantially,” he said.

Ryu Young-ho, a senior analyst at NH Investment & Securities, said the SK Hynix-Nvidia partnership reinforced the view that memory chips were evolving from a commodity product into a more customer-specific business.

Other deals

SK Telecom said it would build a gigawatt-scale AI cloud in South Korea using Nvidia technology, with the first AI data centre to come online in 2027. Nvidia said internet giant Naver and conglomerate Doosan would also use its technology to help build AI data centres.

Doosan, which is developing robots and makes materials used in Nvidia’s most powerful Blackwell chips, said it expected its energy solution to be used in Nvidia’s data centre platforms and for it to use the US firm’s physical AI technology as well.

Nvidia is also partnering with LG Group on electronics, mechanical systems and AI for humanoid robots, Huang said after a meeting with the tech conglomerate’s Chairman Koo Kwang-mo.

Huang said the pair were also working on the architecture of future data centres including cooling, power delivery and the entire design and building of the data centres.

After a meeting with Hyundai Motor Group’s Executive Chair Euisun Chung in the afternoon, Huang said Nvidia would deepen its partnership with Hyundai across a range of AI initiatives, including autonomous mobility, robotics and AI-powered manufacturing.

He also highlighted opportunities to accelerate the development of industrial robotics, saying Nvidia and Hyundai would work together to bring AI to “all forms of mobility” and deepen collaboration on robotics for practical industrial applications.

Huang referred to Hyundai Motor Group’s planned AI data centre in Saemangeum as an “AI Valley” akin to California’s Silicon Valley and said he was “very happy to build Nvidia in Saemangeum.”

South Korea stock rally falters

South Korea is an Asian manufacturing powerhouse, home to major producers of chips, electronics, cars and ships. SK Hynix and Samsung are the world’s two largest makers of memory chips, which are key components in data centres.

The country’s benchmark Kospi index has doubled in six months as heavyweights SK Hynix and Samsung benefited from the AI wave, but closed 8.3 per cent lower on Monday after robust US jobs data fanned bets on a Federal Reserve rate hike this year and sparked a rout in global tech stocks.

Shares in Samsung and SK Hynix closed down 10.2 per cent and 7.7 per cent respectively.

When asked about the global chip stock rout, Huang waved off concerns. “Everybody should be very excited; they can now buy stock at a cheaper price, and it’s absolutely true that the future of AI is very bright.”

Huang also planned to meet Samsung’s semiconductor business head Jun Young-hyun later on Monday.

 

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KUALA LUMPUR, June 6 — Housing and Local Government Ministry (KPKT) minister Nga Kor Ming revealed that Kuala Lumpur now ranks 65th in the global smart city index. 

Speaking at the launch of the KL Architecture Festival’s (KLAF) Tropical Fruit Pavilion launch at Titiwangsa Lake Garden this morning, Nga also said that KL is among the top 10 most popular cities in the world in terms of international tourist arrivals according to Mastercard.

The launch was also attended by the Federal Territories minister Hannah Yeoh as well as KL mayor Datuk Fadlun Mak Ujud. 

“Among thousands, we are ranked number 65. 

“And I’m fully confident under Hannah and Datuk Fadlun’s leadership, KL is going to be in the top 50 soon,” Nga said. 

He added that KL is also ranked number four globally for a city with the most skyscrapers. 

“To my surprise as well, KL is ranked number four in the world for a city with the most numbers of high skyscrapers. 

“We currently have 494 buildings that are actually qualified as skyscrapers,”Nga added. 

Touching on the KLAF’S Tropical Fruit Pavillion in Titiwangsa, Nga said that there are around 12 interactive pavillions that have has been installed at the park starting today until this December. 

He said that this is an example of how architecture can transcend conventional boundaries and be meaningfully integrated into public spaces, allowing people from all walks of life to engage with design in an open and inclusive setting. 

“At KPKT, we strive to create liveable and, most important, lovable communities.

“We want to build urban environments that are not only economically vibrant but also economically resilient, culturally expressive, and socially inclusive,” he said.