KUALA LUMPUR – The ringgit appreciated against the US dollar at the opening today, supported by rising oil prices and strong demand from China for Malaysia’s main commodities, particularly oil, said an analyst.
At 9am, the local note firmed at 4.6485/6535 against the greenback compared with 4.6570/6610 at yesterday’s close.
Meanwhile, Bursa Malaysia opened slightly lower but rebounded thereafter, supported by continuous buying in selected heavyweights amid mixed sentiments on the regional markets, dealers said.
At 9.16am, the FTSE Bursa Malaysia KLCI rose 2.36 points to 1,393.82 from 1,391.46 at yesterday’s close.
The key index opened 1.19 points easier at 1,390.27.
The broader market was also positive as advancers surpassed decliners 194 to 137, while 257 counters were unchanged, 1,670 untraded, and 16 others suspended.
Turnover stood at 263.29 million units worth RM114.54 million. – Bernama, July 12, 2023
