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KUALA LUMPUR – The ringgit opened slightly higher against the US dollar today as the greenback retreated amidst risk-on mode, which saw United States equities improving despite the absence of a fresh catalyst.
Market players are now awaiting the US Federal Reserve and the European Central Bank monetary policy decisions next week for market direction, an analyst said.
At 9am, the local note rose to 4.3925/3985 against the US dollar from 4.3960/4000 at yesterday’s close.
Meanwhile, Bursa Malaysia opened on a positive note today, taking its cue from the positive Wall Street performance overnight.
At 9.18am, the benchmark FTSE Bursa Malaysia KLCI gained 4.78 points to 1,470.71 from yesterday’s closing of 1,465.93. The market bellwether opened 1.97 points higher at 1,467.90.
On the broader market, gainers outpaced losers 246 versus 143, while 267 counters were unchanged, 1,599 untraded and 12 others suspended. – Bernama, December 9, 2022