On Tuesday, the Malaysian ringgit and Thai baht climbed to multi-year highs against the weak US dollar, leading the rise of emerging Asian currencies, while financial stocks helped the Singapore stock market reach record highs. The Thai baht briefly broke through the 31.100 mark against the US dollar and rose to 31.055, the highest point since the beginning of June 2021. The sharp rise in gold prices has driven up the Thai baht, which is counterproductive to Thailand's economic growth, as a stronger baht will reduce exports and tourism revenue. Since this year, the Thai baht has risen by more than 10%, making it the best performing currency in the region. The Malaysian ringgit is the second-best performing Asian currency this year, rising close to 10% and slightly higher on Tuesday, hitting its highest level since early March 2021. The Singapore stock market hit a new high of 4625.48 points, and the benchmark index hit a new record high for the third time this month. This year, Singapore's FTSE Straits Times Index rose 22% and is expected to rise for the second year in a row. This is mainly due to heavyweight banks and defense company ST Engineering, which surged nearly 80%.

On Tuesday, the Malaysian ringgit and Thai baht climbed to multi-year highs against the weak US dollar, leading the rise of emerging Asian currencies, while financial stocks helped the Singapore stock market reach record highs. The Thai baht briefly broke through the 31.100 mark against the US dollar and rose to 31.055, the highest point since the beginning of June 2021. The sharp rise in gold prices has driven up the Thai baht, which is counterproductive to Thailand's economic growth, as a stronger baht will reduce exports and tourism revenue. Since this year, the Thai baht has risen by more than 10%, making it the best performing currency in the region. The Malaysian ringgit is the second-best performing Asian currency this year, rising close to 10% and slightly higher on Tuesday, hitting its highest level since early March 2021. The Singapore stock market hit a new high of 4625.48 points, and the benchmark index hit a new record high for the third time this month. This year, Singapore's FTSE Straits Times Index rose 22% and is expected to rise for the second year in a row. This is mainly due to heavyweight banks and defense company ST Engineering, which surged nearly 80%.