Business

Bursa opens marginally lower, ringgit extends downward trend

Greenback strengthens amid higher-than-expected US retail sales data

Updated 8 months ago · Published on 16 Aug 2023 12:05PM

Bursa opens marginally lower, ringgit extends downward trend
At 9.15am, the FTSE Bursa Malaysia KLCI eased 0.87 of-a-point to 1,459.41 from 1,460.28 at yesterday’s close. – SYEDA IMRAN/The Vibes file pic, August 16, 2023

KUALA LUMPUR – Bursa Malaysia opened marginally lower today due to mild profit-taking in selected heavyweights, in line with the weaker sentiment in regional bourses, dealers said.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.87 of-a-point to 1,459.41 from 1,460.28 at yesterday’s close.

The key index opened 1.25 points easier at 1,459.03.

On the broader market, losers surpassed gainers 224 to 155, while 298 counters were unchanged, 1,663 untraded and 14 others suspended.

Turnover stood at 362.11 million units worth RM129.38 million.

The ringgit extended its downward trend against the US dollar this morning as the greenback strengthened amid higher-than-expected US retail sales data yesterday, analysts said.

At 9.02am, the local note eased to 4.6425/6450 against the US dollar from 4.6335/6385 at the close yesterday.

According to the US Commerce Department, US retail sales increased 0.7% month-on-month in July, surpassing consensus estimates of between 0.4% and 0.3%. – Bernama, August 16, 2023

Related News

Business / 1mth

Google’s ringgit doodle causes a fluster as govt rushes to fact-check and calm nerves

Malaysia / 2mth

Hike in interest rates will only burden the rakyat, says PM’s pol sec

Malaysia / 2mth

Don't exploit issue of weak ringgit for political purposes, says Anwar

Malaysia / 2mth

Current ringgit decline not the same as situation in 1998, says Anwar

Business / 2mth

Ringgit’s value should be higher based on economic indicators, reforms: analyst

Business / 2mth

Ringgit’s performance not reflecting positive prospects of economy: BNM

Spotlight

Malaysia

Wan Saiful blames Fahmi for Malaysia's drop in press freedom rankings

Malaysia

2 injured after light aircraft crashes in Sungkai

By Alfian Z.M. Tahir

Malaysia

3 senior cops detained over alleged graft

Malaysia

RTD orders recall of 600 Omoda 5 Chery SUVs

Malaysia

Malaysia drops to 107th spot in press freedom rankings

Malaysia

Zaid urges govt to open higher learning institutions to non-Bumi