KUALA LUMPUR – The ringgit opened marginally lower against the US dollar on better demand for the greenback on the expected increase of the US bond yields, said an analyst.
At 9.04am, the local note stood at 4.5475/5520 versus the greenback from yesterday’s closing rate of 4.5470/5515.
Meanwhile, Bursa Malaysia continued its downtrend to open slightly lower today despite recovery in selected heavyweights which have limited the losses.
At 9.25am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.23 of-a-point to 1,418.77 from 1,419.00 at yesterday's close.
The barometer index opened 0.68 of-a-point weaker at 1,418.32.
The broader market saw decliners surpassing advancers 200 to 171, while 280 counters were unchanged, 1,608 untraded and 14 others suspended.
Turnover stood at 292.07 million units worth RM131.07 million. – Bernama, May 23, 2023
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