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KUALA LUMPUR – The ringgit opened marginally higher against the US dollar on the first trading day of 2023, as China’s reopening and anticipation for less aggressive interest rate hikes in the United States boosted buying support, dealers said.
At 9am, the local note traded at 4.3965/4050 versus the US dollar from 4.3995/4095 at the close last Friday.
Meanwhile, Bursa Malaysia opened sharply lower on the first trading day of 2023, taking its cue from the weaker Wall Street performance overnight.
At 9.18am, the benchmark FTSE Bursa Malaysia KLCI slid by 11.11 points to 1,484.38 from last Friday’s closing of 1,495.49. The market was closed yesterday as a replacement holiday for the new year, which fell on Sunday.
The market bellwether opened 6.95 points lower at 1,488.54.
On the broader market, losers edged past gainers 214 to 200 gainers, while 303 counters were unchanged, 1,498 untraded and 13 others suspended. – The Vibes, January 3, 2023