As expected, the State Bank of Malaysia remained on hold and maintained an overnight policy interest rate (OPR) of 3%. The ringgit is also on a steady footing today, and the exchange rate against the US dollar is rising steadily.
As of 4 p.m., the exchange rate of RM4.7393 against the US dollar was RM4.7393, which was slightly stronger than RM4.7415 when the market closed yesterday.
Bank of Australia and New Zealand economist Shan Gematu told Bloomberg that the Bank of China's decision to keep interest rates unchanged was in line with market expectations, but the Bank of China's comments on growth prospects in the statement were clearly more optimistic.
“The rebound in global trade and the implementation of more approved investment projects have made the Bank of China clearly more optimistic about growth prospects.”
Vincent Pan (transliteration), head of fixed income research at Bank of Singapore Securities, pointed out to Bloomberg that considering Malaysia's stable economic growth and moderate inflation, there is currently no reason for the Bank of China to adjust interest rates.
“Malaysia also has measures other than monetary policy to support the ringgit.”
Bloomberg also said that the Bank of China is keeping “ammunition” on hold this time to deal with the risk of inflation that will emerge in the future.
According to Bloomberg, the Bank of China predicts that OPR will remain unchanged until 2025.
$USD/MYR(USDMYR.FX)$
The composite index held the 1,600 point level
In terms of the stock market, today's Chinese and Hong Kong stock markets are showing strong performance. $Hang Seng Index(800000.HK)$The Hong Kong Hang Seng Index surged 1.22% to close; $Shenzhen Component Index(399001.SZ)$The Shenzhen Index soared 1 more...

Today, Malaysian stocks easily broke through the 1,590 level. At noon trading, they had already risen to the 1,595 level. The whole office was excited, speculating whether they could break through 1,600 points when the market closed today.
After all, the last time I stood above 1,600 was on April 29, 2022, two years ago.
As to whether there will be a market correction tomorrow, BBBWealth financial planner Xiang Qingfa pointed out in an interview with “Nanyang Commercial Daily”: “The current trend of the comprehensive index has formed aStrong upward momentum. Based on the recent active trading sentiment in the market, and with the help of the return of foreign capital,Breaking through the 1,600 psychological level won't be a big challenge.”
It means that breaking through 1,600 points is not a dream; however, will it continue to rise after passing 1,600 points? He pointed out,1614 points is a strong resistance.
” After all, 1,614 points is also the level where the epidemic has plummeted. The funds of many retail investors are locked in this region, so it will become selling pressure, impacting the upward momentum of the composite index.
Are 1,600 points just a flash?? He pointed out that if the Composite Index's rise is blocked,It is estimated that it will enter a period of consolidation, but as long as the 1,575-point support level is maintained, the overall upward trend can still be maintained.
“I think even a consolidation in the composite index would benefit the overall trend, make the long-term gains healthier, and consolidate their sustainability.”
Looking out of nowhere? Composite Index Approaches 1600 Level (enanyang.my)

$TC Energy Corp(TRP.CA)$ I love my oil and energy players. Thank you GOD. Making money today definitely my happy dance.

GENTING Genting - Can we go to bottom now? [CC ENGLISH ENG SUB]
$GENTING(3182.MY)$
GENTING Genting - Can we go to bottom now? [CC ENGLISH ENG SUB]

$Apple(AAPL.US)$ Based on revenue, it's second in the tech industry after $Amazon(AMZN.US)$, which had $386 billion in 2020 sales to Apple’s $275 billion. It was first in 2020 by profit, with $57.4 billion in net income. So Apple’s overall position in the tech industry is very strong. It has the largest market cap of any tech company and this position is supported by profit.
However, that very fact puts Apple at risk of antitrust action. Part of the reason why Apple collects so much revenue is because it takes a steep 30% cut of app store sales and markets its own software to users. Both of these practices are being challenged. Epic Games recently won a partial victory over Apple in court, which gave it the right to collect payments outside of Apple’s payment system. If the court ruling holds up on appeal, then other developers will be able to bypass Apple’s payments system, depriving Apple of its revenue cut.
There's also the matter of app tracking. This year, Apple started forcing app developers to allow users to opt out of being tracked. These deprived advertisers access to valuable insights, such as customer location, web browsing history, and more. This was framed by Apple as a pro-privacy move. However, a recent Oxford study showed that iPhones were no better for privacy than Android devices.
Brian Bowman, CEO of industry-leading ad agency Consumer Acquisition, talks about the effects of Apple’s iOS changes across the industry.
We are seeing a loss between 15% to 30% of revenue for iOS apps. It's for the most part irrecoverable.
According to Bowman, iOS is putting third-party developers at a disadvantage. By forcing them to let users opt out of tracking, it deprives them of revenue. But there’s more than that. In addition to putting other companies at a disadvantage, Apple (according to Bowman), is giving its own apps special treatment:
For all third parties Apple forced developers to ask consumers whether they wanted to be tracked across companies and websites. It didn't show the same pop up for Apple apps.
In other words, third-party developers had to let people opt out of tracking, Apple didn’t. Eventually, Apple relented on this, but Bowman says it still gives its apps preferential treatment on framing:
For third parties, Apple forces them to ask whether they want to be tracked, it is purposely aggressive language that doesn’t show you the benefits… for Apple products, they didn't use the word tracking and they showed the benefits of opting in.
If Bowman is right about this, then antitrust could become a major liability for Apple. Just recently, $Meta Platforms(FB.US)$ took out full page ads in the New York Times criticizing the app tracking changes. There's a real possibility that this will lead to legal action. Epic Games already won a partial court victory over Apple on antitrust grounds, and the app tracking issue deals with similar concerns. So Apple’s competitive position is very strong, but there's significant legal risk here.

$Coca-Cola(KO.US)$ swings higher after strong FY21 guidance follows a consensus-topping Q3 earnings report.
Organic revenue was up 14% during the quarter, including 8% growth in concentrate sales and 6% growth in price/mix. KO notes that the revenue growth was broad-based with particular strength in markets where coronavirus-related uncertainty is abating. Importantly, volume for Q3 was ahead of the pre-pandemic level seen in 2019.
Coca-Cola gained value share in total nonalcoholic ready-to-drink beverages, which included share gains in both at-home and away-from-home channels.
"While the recovery continues to be asynchronous around the world, we are investing for growth to drive long-term value for the system. Our strong system alignment and networked organization are helping us unlock enormous potential in our brands and across our markets," says CEO James Quincey.
Shares of Coca-Cola are up 2.68% to $55.93 after the earnings topper.