Ringgit opens lower against dollar as weak sentiment continues

KUALA LUMPUR – The ringgit opened lower against the US dollar in early trade today given the prevailing sentiment in the market, which suggests a weaker outlook for global growth.

At 9.01am, the local note decreased to 4.5640/5695 against the greenback compared with 4.5575/5625 at yesterdays’s close.

Meanwhile, Bursa Malaysia opened easier today as cautious market sentiment continued to weigh on investors’ risk appetite ahead of this weekend’s state elections.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 3.12 points to 1,442.69 from 1,445.81 at yesterday’s close.

The key index opened 1.6 points lower at 1,444.21.

On the broader market, gainers and losers were almost equal at 113 to 118, while 243 counters were unchanged, 1,816 untraded, and 14 others suspended.

Turnover stood at 173.89 million units worth RM58.11 million. – Bernama, August 8, 2023