Business

Bursa extends uptrend, ringgit opens higher

Bullish sentiment on local bourse continues to spur buying interest

Updated 4 years ago · Published on 23 Aug 2021 9:30AM

Bursa extends uptrend, ringgit opens higher
The ringgit stands at 4.2300/2340 versus the greenback as at 9am today. – File pic, August 23, 2021

KUALA LUMPUR – Bursa Malaysia today extended Friday’s uptrend with gains almost across the board as bullish sentiment continues to spur buying interest.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI rose 5.27 points, or 0.35%, to 1,523.30 from 1,518.03 at the close on Friday. 

The market bellwether opened 1.96 points higher at 1,519.99.

Market breadth was also positive, with gainers outpacing losers 294 to 133, while 270 counters were unchanged, 1,511 untraded and seven suspended.

Turnover stood at 350.29 million shares worth RM127.17 million.

The ringgit, meanwhile, rose against the United States dollar in early trade as improved market sentiment on the return of certainty to Malaysian politics lifts investors’ risk appetite.

At 9am, the local note stood at 4.2300/2340 versus the greenback from 4.2380/2400 at Friday’s close.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the ringgit is expected to trade between RM4.23 and RM4.24 against the dollar this week, as the market is likely to be calmer. – Bernama, August 23, 2021

Related News

Business / 2w

Tycoon Vincent Tan trims BCorp stake further in RM115m share sale

Business / 1mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 2mth

Ringgit retreats to 4.00 versus the US Dollar amid West Asia ceasefire uncertainties

Business / 3mth

BNM ensures orderly financial markets amid global uncertainties

Malaysia / 3mth

Middle East conflict: Brace for more expensive imports - Tengku Zafrul

Malaysia / 3mth

Two factors contributed to lower EPF dividends this year – CEO

Spotlight

Malaysia

Grandfather charged with raping 12-year-old granddaughter

Malaysia

MACC application to stop Na'imah managing assets in Jersey to be heard on August 13

Malaysia

AI-powered probe uncovers SOCSO fraud syndicate exploiting disabled, identity thefts

Malaysia

Salesman pleads guilty to slashing motorcyclist, causing severe injuries

Malaysia

AirAsia warns job seekers of fake recruitment website stealing personal data, demanding fees

Malaysia

Malaysia Stadium Corporation CEO charged over alleged RM1m bribery solicitation

Malaysia

Johor MB to defend state seat in upcoming polls

By Alfian Z.M. Tahir

You may be interested

Business

US dollar weakens as markets await Warsh's first Fed decision

Business

US dollar surges to three-month high as Fed signals possible rate hike

Business

Brent crude plummets below US$80 as US-Iran peace deal hopes eclipse Wall Street AI slump

Business

Oil prices slide as US-Iran peace deal raising hopes of supply recovery

Business

KPJ posts strong FY2025 performance, sets sights on next growth phase

By Alfian Z.M. Tahir