KUALA LUMPUR – The ringgit extended its gains to open higher this morning, amidst positive developments in the Asian foreign exchange market.
Risk appetites improved after Malaysia and China’s central banks moved to stop the slide in their respective currencies, dealers said.
At 9am, the local unit rose to 4.6570/6625 versus the greenback compared to 4.6640/6685 at yesterday’s close.
Meanwhile, Bursa Malaysia rebounded in the early morning session, taking its cue from Wall Street’s better performance overnight as sentiments improved following the solid set of economic data illustrating that the United States (US) economy remains strong with no recession in sight, said an analyst.
At 9.12 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 3.30 points to 1,390.04 from 1,386.74 at yesterday’s close.
The key index opened 0.93 of-a-point firmer at 1,387.67.
The broader market was positive with advancers surpassing decliners 177 to 115, while 206 counters were unchanged, 1,824 untraded and 84 others suspended.
Turnover stood at 244.55 million units worth RM75.15 million. – Bernama, June 28, 2022
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