Ringgit higher against US dollar, Bursa extends gains

KUALA LUMPUR – The ringgit opened higher against the US dollar today as the greenback retreated following the release of American economic data which came in below expectations, as well as the improvement in risk appetite, said an analyst.

At 9am, the local note stood at 4.6350/6385 against the greenback from 4.6445/6475 at yesterday’s close.

Meanwhile, Bursa Malaysia extended yesterday’s gains to open higher today, taking the cue from the better performance on Wall Street overnight, said a trader. 

At 9.17am, the FTSE Bursa Malaysia KLCI rose 3.76 points to 1,458.20 from 1,454.44 at yesterday’s close.

The key index opened 1.79 points firmer at 1,456.23. 

The broader market was positive with advancers surpassing decliners 252 to 209, while 285 counters were unchanged, 1,632 untraded and 70 others suspended.

Turnover amounted to 539.08 million units worth RM260.76 million. – Bernama, August 30, 2023