KUALA LUMPUR – The ringgit opened lower versus the US dollar today on further appreciation of the US dollar index (DXY) as investors remain wary of the global growth prospect outlook, especially in China.
At 9.01am, the local note declined to 4.6275/6295 against the greenback compared with 4.6140/6175 at yesterday’s closing.
Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said the key data points from China today are the Fixed Asset Investment whereby consensus estimates expected it to be sustained at 3.8% in July.
Meanwhile, Bursa Malaysia opened slightly lower today but rebounded thereafter, supported by renewed buying demand in selected financial services counters, dealers said.
At 9.33am, the FTSE Bursa Malaysia KLCI added 1.16 points to 1,458.16 from 1,457.0 at yesterday’s close.
The key index opened 0.14 of-a-point easier at 1,456.86.
On the broader market, gainers surpassed losers 284 to 197, while 293 counters were unchanged, 1,566 untraded and 13 others suspended.
Turnover stood at 744 million units worth RM255.92 million. – Bernama, August 15, 2023
