Ringgit opens higher against US dollar, Bursa extends losses

KUALA LUMPUR – The ringgit opened higher against the United States dollar today as trading of the greenback remained sideways over the US’ weaker-than-expected economic data, a dealer said. 

At 9.02am, the ringgit rose to 4.2350/2400 versus the greenback from yesterday’s close of 4.2360/2410. 

ActivTrades trader Dyogenes Rodrigues Diniz said although the US dollar has managed to regain some ground, trading remained sideways as the US gross domestic product data came in below expectations at 6.5% versus the forecasted 8.5%.

Bursa Malaysia has extended its losses to open lower today amidst uncertainties surrounding the market.

The local bourse bucked the performance of regional peers, which took their cue from the better overnight performance on Wall Street, a dealer said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI slipped 9.46 points to 1,503.47 from yesterday’s close of 1,512.93.

The index opened 0.95 of-a-point easier at 1,511.98.

On the broader market, losers led gainers 214 versus 112, while 237 counters were unchanged, 1,643 untraded and 64 others suspended.

Turnover stood at 200.26 million units worth RM108.97 million. – Bernama, July 30, 2021