RHB, Malaysia’s fourth-largest bank by assets has announced ambitious climate targets.

Setting its sights on net zero by 2050 and increasing its sustainable finance target to RM50 billion  by 2026.

The news was shared at the inaugural RHB sustainability media day.

Speaking at the session, Mohd Rashid Mohamad  Group Managing Director / Group Chief Executive Officer of RHB Banking Group shared that the goals are the result of over a year of work under the group climate action programme.

Rachel Kelly with the details.

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Japanese authorities are keeping a close eye on currency markets as the yen has fallen to a fresh 34-year low against the dollar. Now this has further fueled speculation of an intervention to support the currency. So what would an intervention look like? And what can we expect in currency markets ahead of Japan's interest rate decision on Friday? On Money in the Market, Hongbin Jeong speaks to Kelvin Wong, Senior Market Analyst, Oanda, to find out more

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On What’s Trending, NASA and Nokia are planning to introduce 4G cellular network on the moon. Also, a new fried snack has been introduced - fried dandelions.

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Earning season kicks into high gear this week as Big Tech giants report results. The S&P 500 already saw a turnaround to start the week, ending its six consecutive days of losses. So can this rise be sustained? Can the earnings from the Magnificent Seven boost the index? On Money in the Market, Hongbin Jeong speaks to Steve Brice, Chief Investment Officer, Standard Chartered, to find out more. 

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Alternative investments have lagged behind public markets last year. This marks a complete reversal from 2022. But are they making a comeback this year? What’s the outlook for alternative investments? What are the key asset classes in the alternative investment universe? On Money in the Market, Hongbin Jeong speaks to Alex Catterick, Senior Managing Director, Head of Alternative Investment Solutions, Manulife IM, to find out more about where the opportunities lie in the alternative asset space. 

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On What’s Trending, Jaguar, a Taiwan’s first native dog, is joining the country’s police force. Also, an ostrich died after swallowing a staff’s keys. And lastly, San Francisco is preparing for the arrival of Pandas.

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Unclear prospects for demand in China have already weighed on luxury stocks since the post COVID restrictions. And it’s promoted a reassessment of such luxury brands’ business strategies. But can luxury stocks rebound from its rout? On Money in the Market, Hongbin Jeong speaks to Tao Zhang, China Markets Editor, Bloomberg to find out how investors can navigate the luxury market. 

Highlights:

1. What factors contributed to the significant increase in return rates for upscale labels on Tmall during the shopping festival? What does this tell us about China’s economy and consumer sentiment? - 1:22

2. Does the increase in product returns highlight the imperative for luxury brands to redefine their strategies for the Chinese market? Should they venture out to other markets around the world? - 3:24

3. Does this have a big impact on luxury stocks itself? How have luxury stocks fared so far? - 5:13

4. Do analysts believe that sentiment towards luxury brands will return, or are they in a new normal right now? - 9:57

5. Are there any other possibilities of luxury stocks rebounding or surging anytime soon? - 11:17

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On What’s Trending, we’ll be talking about Taylor Swift’s newest album - The Tortured Poets Department - and what kind of theories has been circulating online. Also, Queen’s University introduced a new Taylor Swift course called “Law (Taylor’s Version).”

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US Fed officials have questioned the need for a cut anytime soon, leaving traders mulling the outlook for US interest rates. Expectations of rate cuts have fallen from six in the beginning of the year to now - just two, while some even expect a possible hike. On Money in the Market, Hongbin Jeong speaks to Gautam Chadda, Head of Investment and Portfolio Advisory (Singapore) at RBC Wealth Management Asia, to find out more of the trajectory of rate cuts and how investors can navigate this landscape. 

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On The Afternoon Update, Hongbin Jeong is joined by Carmen Lee, Head of OCBC Investment Research, for a market wrap of the week. They discuss how the STI has performed in the past week, how the latest heightened tension in the Middle East is affecting local markets, outlook of the earnings season and how the new Prime Minister in May may affect markets.

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