Ringgit down but Bursa sees an uptick FMTNews FMTBusiness
KUALA LUMPUR: The ringgit faltered against the US dollar today but Bursa Malaysia started the day with promise.
The local currency came under pressure on a further appreciation of the US dollar index as investors continued to fret about global economic growth prospects, particularly in China. The local note was down to 4.6275/4.6295 against the US dollar a minute into trading, compared with 4.6140/4.6175 at yesterday’s closing.
On the stock market, the FTSE Bursa Malaysia KLCI began the day just a breath easier but quickly added 1.16 points to settle at 1,458.16 points just over 30 minutes into the trading day.Dealers attribute the rebound to renewed buying demand in selected financial services counters.
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