{
  "id": 17955831,
  "title": "Ringgit eases against greenback amid AI investment pullback",
  "url": "https://urgent.news/2026/11/03/ringgit-eases-against-greenback-amid-ai-investment-pullback-17955831",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-03T10:37:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/03/ringgit-eases-against-greenback-amid-ai-investment-pullback"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: The Malaysian ringgit weakened against the US dollar on today due to a retreat in AI-related trades and investments worldwide. Stephen Innes, managing partner of SPI Asset Management, attributed the ringgit's decline to broader risk-averse sentiment, especially as investors exited AI-related assets. He clarified that Malaysia had thrived from the global AI investment surge, specifically through its semiconductor sector and technology-linked investments. However, Innes warned that when investors retreat from AI, the ringgit could face pressure even if the US dollar declines, making it susceptible to the broader AI trade unwinding. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid echoed similar concerns, pointing to the potential AI investment bubble, the approaching US midterm elections, and Friday's US jobs data as factors influencing the ringgit's performance. He suggested that mixed signals from Wall Street firms at a Hong Kong conference regarding AI infrastructure overextension added to market uncertainty. The ringgit's value fluctuated against other currencies, mostly strengthening against them, except against the Thai baht, Indonesian rupiah, and the British pound.",
  "summary": "The ringgit's weakness was largely driven by broader risk aversion, particularly as investors pulled back from AI-related investments, says analyst.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}