KUALA LUMPUR: The ringgit raced ahead to begin the day higher against a strengthening US dollar today but sentiments were mixed on Bursa Malaysia.
While the greenback strengthened its position as a safe haven currency following the aborted mutiny in Russia over the weekend, it failed to dampen the mood for the ringgit.
The local currency rose to 4.6725/4.6790 versus the greenback compared to 4.6760/4.6805 at last Friday’s close.
Even a surprise 50-basis-point (bps) increase in interest rate by the Bank of England did not put too much pressure on the FTSE Bursa Malaysia KLCI (FBM KLCI).
The index rose 1.57 points in the first 10 minutes of trade to settle at 1,392.46 points, up from 1,390.89 at Friday’s close.
However, decliners outpaced advancers 152 to 126 on the broader market. Another 250 counters traded unchanged, 1,789 did not see any trading and 40 others were suspended.