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KUALA LUMPUR – The ringgit opened higher against the US dollar this morning on weaker manufacturing purchasing managers index (PMI) flash estimates for advanced economies, said an analyst.
At 9am, the local note rose to 4.6410/6455 against the greenback from 4.6575/6610 at yesterday’s close.
The latest manufacturing PMI prints for the United States, Europe and the United Kingdom remained below the 50-point demarcation line at 47.0, 43.7 and 42.7 points, respectively.
Meanwhile, Bursa Malaysia opened on a better note this morning, tracking Wall Street’s positive performance overnight.
At 9.30am, the FTSE Bursa Malaysia KLCI increased 5.52 points to 1,445.63 from 1,440.11 at yesterday’s close, after opening 1.41 points better at 1,440.11.
On the broader market, decliners outpaced gainers 280 to 202, while 302 counters were unchanged, 1,567 untraded and 15 others suspended. – Bernama, August 24, 2023