Local market opens positively, ringgit down

THE local market continued yesterday’s upward momentum as it opened slightly higher almost across all index today.

At 9.05am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 1.78 points to 1,502.13 after opening 5.13 points higher at 1,505.48.

Gainers overtook losers 212 to 155, while 263 counters were unchanged, 1520 untraded and 79 others suspended.

Total volume stood at 250.99 million units worth RM178.59 mil.

Meanwhile, the ringgit extended its fall against the US dollar at the opening today despite an overnight greenback retracement with the focus back to the sliding crude oil prices and the worries over the increasing number of COVID-19 cases globally.

At 9.05 am, the local currency eased to 4.1650/1720 versus the greenback compared with 4.1640/1680 at yesterday’s close.

The dealer said the uncertainty lingering around the US presidential election and the US economy dragged the US dollar to fall. – Oct 28, 2020

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