KUALA LUMPUR – The ringgit opened lower against the US dollar today on better demand for the greenback as the United States job data came in better than expected, prompting concerns that the US Federal Reserves will continue to hike rates to combat inflation, dealers said.
At 9am, the local note eased to 4.3950/4000 against the US dollar from yesterday’s closing of 4.3860/3915.
Meanwhile, Bursa Malaysia opened lower today, taking its cue from the weaker Wall Street performance overnight.
At 9.33am, the benchmark FTSE Bursa Malaysia KLCI eased by 1.09 points to 1,479.84 from yesterday’s closing of 1,480.93.
The market bellwether opened 1.40 points weaker at 1,479.53.
On the broader market, losers surpassed gainers 264 to 166, while 291 counters were unchanged, 1,489 untraded and nine others suspended. – Bernama, January 6, 2023
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