Failed mutiny in Russia fails to dampen sentiments for the ringgit however charge hike by Financial institution of England leaves merchants with combined emotions.
KUALA LUMPUR: The ringgit raced forward to start the day greater in opposition to a strengthening US greenback right this moment however sentiments have been combined on Bursa Malaysia.
Whereas the dollar strengthened its place as a secure haven forex following the aborted mutiny in Russia over the weekend, it did not dampen the temper for the ringgit.
The native forex rose to 4.6725/4.6790 versus the dollar in comparison with 4.6760/4.6805 finally Friday’s shut.
Even a shock 50-basis-point (bps) enhance in rate of interest by the Financial institution of England didn’t put an excessive amount of stress on the FTSE Bursa Malaysia KLCI (FBM KLCI).
The index rose 1.57 factors within the first 10 minutes of commerce to settle at 1,392.46 factors, up from 1,390.89 at Friday’s shut.
Nonetheless, decliners outpaced advancers 152 to 126 on the broader market. One other 250 counters traded unchanged, 1,789 didn’t see any buying and selling and 40 others have been suspended.