KUALA LUMPUR – The ringgit opened firmer against the United States dollar today, riding on positive investor sentiment following the tabling of the 12th Malaysia Plan yesterday.
At 9am, the local note rose to 4.1800/1855 versus the greenback from yesterday’s close of 4.1865/1885.
ActivTrades trader Dyogenes Rodrigues Diniz said the dollar has been moving sideways against the ringgit over the past few days, weighed down by the Federal Reserve’s stance on the US interest rate, which will not be increased in the near term.
Last week, Fed chief Jerome Powell reassured global markets, saying although the tapering process will start in November, the interest rate will not be upped until 2023.
Bursa Malaysia, too, opened marginally higher, but retreated thereafter due to profit-taking in selected heavyweights.
At 9.21am, the benchmark FTSE Bursa Malaysia KLCI slid 2.70 points to 1,530.35 from 1,533.05 at yesterday’s close.
It opened 0.46 of a point better at 1,533.51.
Market breadth was negative, with losers outpacing gainers 288 to 211, while 334 counters were unchanged, 1,470 untraded and 24 suspended.
Turnover stood at 476.70 million units worth RM236.72 million. – Bernama, September 28, 2021
