Malaysia local unit traded mostly higher due to uncertainty in the local economic condition in the early session.

Malaysia: The ringgit was slightly lower against the US dollar in the early session today due to uncertainty in the local economic condition, a dealer said.

At 9.27 am, the ringgit was quoted at 3.9790/9820 from 3.9750/9780 recorded at yesterday’s close.

The dealer said besides the obvious fiscal uncertainties in the country, the local currency continued to be weakened by the lack of action in the bond markets.

Meanwhile, the local unit traded mostly higher versus a basket of currencies except for the yen, against which it fell to 3.6229/6266 from 3.6159/6190.

It rose against the Singapore dollar to 2.9834/9877 from 2.9849/9876 recorded yesterday, and improved to 5.3386/3450 from 5.3472/3524 vis-a-vis the British pound.

The ringgit inched up against the euro to 4.6976/7019 from 4.6977/7024.

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The firmer US markets would also lend support to the local bourses while tracking the bullish overnight close on Wall Street.

Malaysia: Bursa Malaysia extended yesterday’s gains to open higher today on continued buying interest while tracking the bullish overnight close on Wall Street, dealers said.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,781.02, up 3.89 points, after opening 2.84 points higher at 1,779.97 against Wednesday's close of 1,777.13.

On the broader market, gainers led losers 206 to 76, while 189 counters remained unchanged, with 1,428 untraded and 32 others suspended.

Turnover stood at 168.81 million shares worth RM80.64 million.

The dealers said the key index was in line with gains on Wall Street supported by the overnight comment from European Central Bank (ECB) chief economist Peter Praet that the bank is about to take a key step towards an easy-money exit.

This shows that the ECB remains on track to debate the timetable for ending its asset purchases soon, the dealers added.

Meanwhile, Maybank Investment Bank Bhd said the FBM KLCI could extend its gains as worries over a full-blown trade war dissipate.

"The firmer US markets would also lend support to the local bourses.‘Technically, we expect the FBM KLCI to range between 1,750 and 1,790 today with the downside support at 1,740 and 1,709,” it said in a note today.

The Finance Index perked 59.74 points to 17,866.34, the Industrial Index gained 8.54 points to 3,239.26 while the Plantation Index fell 3.04 points to 7,729.07.

The FBM Emas Index rose 34.37 points to 12,479.37, the FBM Ace Index added 36.75 points to 5,328.32 and the FBM70 was 60.48 points better at 14,896.16.For the heavyweights, Maybank rose nine sen to RM9.68, TNB was four sen higher at RM14.40, CIMB gained five sen to RM6.26 while Public Bank fell eight sen to RM24.92 and Petronas Chemicals was flat at RM8.35.

Among actives, PUC bagged 1.5 sen to 23 sen, Cuscapi gained one sen to 25.5 sen, MyEG increased 3.5 sen to 83.5 sen while Sapura Energy eased half-a-sen to 64.5 sen.

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#Malaysian #Ringgit traded mostly lower on despite Malaysia’s favourable trade data for April against Currencies.

Malaysia: The ringgit was unchanged against the US dollar in today’s early session, despite Malaysia’s favourable trade data for April.

As of 9.30am, the local unit was quoted at 3.9700/9750 against the greenback, unchanged from yesterday's close.

Meanwhile, the ringgit traded mostly lower against a basket of other major currencies.

It declined against the Singapore dollar to 2.9756/9800 from 2.9749/9791 yesterday, but gained vis-a-vis the yen to 3.6127/6179 from 3.6163/6219.

The local note fell against the British pound to 5.3238/3317 from 5.3115/3197, and depreciated against the euro to 4.6544/6607 from 4.6453/6523.

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The local unit traded higher which showed a decline in Malaysia's manufacturing sector also, this sector had now suffered four consecutive months of contraction.

Malaysia: The ringgit was slightly lower against the US dollar in the early session today on weaker demand and following economic data which showed a decline in Malaysia's manufacturing sector for May.

At 9.15am, the local unit was quoted at 3.9740/9780 against the greenback from Monday's close 3.9700/9740.

FXTM Global Head of Currency Strategy & Market Research, Jameel Ahmad said the manufacturing sector had now suffered four consecutive months of contraction.

“News that new orders had fallen the most since late 2016, suggests that the sector could struggle for some time. It is a little bit too early to discuss whether the woes for the manufacturing sector will weigh down on gross domestic product potential.

“Investors will be waiting for the key trade balance report to be announced later today for guidance on how the economy has performed over the second quarter of 2018,” he said in a statement.

Meanwhile, the local unit traded higher against a basket of currencies.

It improved against the Singapore dollar to 2.9734/9782 from 2.9747/9781 yesterday and gained vis-a-vis the yen to 3.6157/6197 from 3.6213/6259.

The local unit improved against the British pound to 5.2890/2959 from 5.3146/3208 and appreciated against the euro at 4.6456/6507 from 4.6564/6619.

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Malaysia local unit was traded mostly higher due to uncertainty over potential political risks.

Malaysia: The ringgit was slightly higher against the US dollar in the early session as investors’ interest shifted away from the greenback due to uncertainty over potential political risks, dealers said.

At 9.09 am, the local unit was quoted at 3.9750/9800 against the US dollar from Friday's close of 3.9770/9800.

A dealer said traders were cautious on the US dollar and the uncertainty over the United States-North Korea summit next week, which will continue to cap the greenback’s upside, that they looked past the decline in Malaysia's manufacturing sector.

“According to a survey from Nikkei, Malaysia Manufacturing Purchasing Managers' Index fell to 47.6 in May from 48.6 in April,” he added.

Meanwhile, the local unit was traded mostly higher against a basket of currencies, except against the British pound, where it fell to 5.3114/3201 from 5.2902/2946 recorded last Friday.

The ringgit appreciated against the euro to 4.6400/6474 from 4.6551/6594, it improved against the Singapore dollar to 2.9706/9746 versus 2.9728/9761 and gained vis-a-vis the yen to 3.6235/6284 from 3.6393/6430 last Friday.

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Bursa Malaysia Sector-wise, the Finance Index rose, the Plantation Index was 17.86 points higher but the Industrial Index trimmed.

Malaysia: Bursa Malaysia continued its positive momentum for the second consecutive day to open higher today as demand re-emerged for selected heavyweights amid recovering domestic sentiment, dealers said.

At 9.07am, the benchmark (Bursa Malaysia Price) FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.05 points better at 1,744.67 from Thursday's close of 1,740.62.

The index opened 0.69 of-a-point easier at 1,739.93.

On the broader market, losers led gainers 155 to 119, while 172 counters were unchanged, 1,455 untraded and 21 others suspended.

Volume stood at 181.86 million units valued at RM82.48 million.

Public Investment Bank Bhd (PublicInvest) said however external political predicament might put pressure on global equities as renewed concerns over a global trade war outweighed hopes of some sort of resolution to Italy's political problems.

"The US said it would begin levying tariffs (Stock Signals) on imports of steel and aluminium from the European Union (EU), Canada and Mexico from Friday. The EU immediately promised retaliatory tariffs, while Mexico and Canada both said they would take action," the research firm said in a note.

Among heavyweights, Maybank was one sen lower at RM9.65, Public Bank rose 16 sen to RM24.02, TNB and Petronas Chemicals advanced eight sen each to RM14.48 and RM8.13, respectively, and IHH Healthcare was flat at RM6.00.

For actives, Sapura Energy improved one sen to 56 sen, while Trive Property was half-a-sen lower at 2.5 sen, MyEG declined 3.5 sen to 85.5 sen, while EA Holdings and Tiger Synergy were both flat at three sen and eight sen, respectively.

The FBM Emas Index (Financial Adviser Malaysia) added 12.93 points to 12,141.87, the FBMT 100 Index increased 14.63 points to 11,961.4 and the FBM Emas Syariah Index rose 7.71 points to 12,183.68.

The FBM 70 decreased 27.79 points to 14,289.2 and the FBM Ace shed 18.16 points to 4,980.8.

Sector-wise, the Finance Index rose 36.52 points to 17,360.75, the Plantation Index was 17.86 points higher at 7,789.73 but the Industrial Index trimmed 8.92 points to 3,122.36.

The physical price of gold as at 9.30am stood at RM160.77 per gramme, down 52 sen from RM161.29 at 5pm yesterday.

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