KUALA LUMPUR – The ringgit was unchanged at today’s opening amid cautious investors after the US, UK, EU and Canada imposed sanctions against China due to human rights concerns.
As at 9am, the ringgit opened unchanged against the greenback at 4.1120/1150 compared with 4.1120/1160 at yesterday’s close.
China has been sanctioned over alleged human rights abuses against Uighur Muslims in Xinjiang, drawing an immediate reaction from Beijing.
“This will increase concerns on future economic trades involving nations. The US and China, for example, are both our big trading partners and whatever happens to both countries would affect the currencies market, including the ringgit,” a dealer said.
Meanwhile, Bursa Malaysia opened lower, with the market undertone remain sluggish due to lack of buying catalysts and meaningful inflows from foreign funds.
At 9.30am today, there were 269 gainers, 393 losers and 378 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,610.92 down 5.81 points, the FBMACE was at 10,609.38 down 43.28 points, and the FBMEmas was at 11,834.22 down 26.72 points.
Turnover was at 1.158 billion shares valued at RM568.164 million. – Bernama, March 23, 2021
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