Ringgit leads Asian currencies versus USD this quarter – BBG

Bloomberg carries an article today, citing that the Malaysian ringgit is easily the strongest major Asian currency this quarter, climbing twice as much as the next best, the Chinese Yuan.

Key Points:

“Global funds have bought the most Malaysian stocks year-to-date since the same period in 2013, and net inflows to the bond market surged in April and May.

Overseas investors have purchased $2.48 billion of Malaysian equities this year, the biggest stock inflow in Southeast Asia. The FTSE Bursa Malaysia index hit its highest in two years on June 16 as technology, banks and construction shares soared.

Bond investors have also returned. Malaysian debt securities drew more than 16 billion ringgit ($3.7 billion) in April and May after recording the longest stretch of outflows in two years.”