BURSA Malaysia was easier in early trade today, as it bucked the regional trend and dampened by selling in the index-linked counters led by Top Glove.
At 9.31 am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) shed 6.48 points to 1,563.68 after opening 4.09 points lower at 1,565.99.
Meanwhile, the ringgit continued to drift sideways as uncertainties over fiscal stimulus in the US resurfaced again, leading to the rise in the US dollar.
At 9.01 am, the local currency stood at 4.1290/1370 versus the greenback compared with Wednesday’s close of 4.1270/1320.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the downtrend in the ringgit was also due to a sharp appreciation on Monday. – Nov 12, 2020
