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Friday, 18 May 2018

The Ringgit remains resilient following higher US bond yields results oil prices continued to leave the ringgit less vulnerable.


Malaysia: The ringgit opened lower against the US dollar on lack of buying momentum and with interest in the greenback following higher US bond yields, a dealer said.
As at 9 am, the local unit was quoted at 3.9710/9750 from 3.9670/9710 recorded at yesterday's close.
The dealer said the surging US dollar and higher US bond yields continue to weigh on the local note.
“However, higher oil prices (Forex Signal Malaysia) continued to leave the ringgit less vulnerable to external shocks, but it was hard to argue the current direction with US yields moving higher,” he added
Meanwhile, Bank Negara Malaysia (BNM) yesterday, announced the country's economy grew by 5.4 per cent in the first quarter of 2018 compared with 5.6 per cent recorded in the same period a year ago.
It also said the ringgit appreciated 6.2 per cent against the US dollar in the 1Q18.
“The ringgit remains resilient post-GE14,” BNM Governor Tan Sri Muhammad Ibrahim said.Against a basket of major currencies, the local note traded mostly lower, except for the yen, which rose to 3.5801/5846 from 3.5836/5878.
The ringgit fell against the (Daily Forex SignalsSingapore dollar to 2.9588/9640 from 2.9558/9599 on Thursday and decreased versus the British pound to 5.3664/3726 from 5.3543/3612, while weakening against the euro at 4.6878/6933 from 4.6815/6878.

  
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Thursday, 17 May 2018

Bursa Malaysia had ensured adequate and robust market management measures & also, strong economic fundamentals and investor confidence.


Malaysia: The Malaysian stock market remains resilient and stable, reflecting the country’s strong economic fundamentals and investor confidence, despite anticipated uncertainties from the election outcome, Bursa Malaysia said.
The exchange said the market saw encouraging signs over the three days when it reopened after the nation’s 14th General Elections with strong support from both local and foreign buyers.
The traded value of RM7.3 billion on Monday was the highest ever in record, with daily market velocity at 96 per cent, it added.  
The market was seen to have normalised today, up by 10.06 points from the previous close.
FTSE Bursa Malaysia KLCI (Stock Signals) closed at 1,858.26 points on Wednesday, up 0.54 per cent from its previous close on Tuesday.
In line with its function as the national stock exchange, chief executive officer Datuk Seri Tajuddin Atan said Bursa Malaysia had ensured adequate and robust market management measures were securely in place to maintain a fair and orderly market in the event of excessive volatility.
“The fact that the market was resilient and remained well-supported over the last three days reflects Malaysia’s strong economic fundamentals and investor confidence (Share Trading Tips).
“The additional two-day break allowed the market to make rational investment decisions that were underpinned by stronger corporate earnings growth and positive economic outlook,” he said in a statement.
Tajuddin said imminent developments such as institutional and governance reforms will further enhance Malaysia’s competitiveness, in line with Bursa Malaysia’s (Bursa Malaysia Price) continuous efforts in championing corporate governance among listed companies as key levers of sustainable growth.
“The exchange will continue to step up initiatives to increase the depth, breadth and vibrancy of the Malaysian capital market,” he added.


  
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Wednesday, 16 May 2018

Ringgit opened lower; rose against the Singapore dollar, increased versus the yen, appreciated vis-a-vis the British pound, strengthened against the euro.


Malaysia: The ringgit opened lower against the US dollar this morning, but was higher against other major currencies.
As of 9am, the local unit was quoted at 3.9600/9650 from yesterday's close of 3.9540/9580 (Forex Signal Malaysia).
The ringgit rose against the (Daily Forex Signals) Singapore dollar to 2.9456/9506 from 2.9578/9617 on Tuesday, and increased versus the yen to 3.5886/5938 from 3.5972/6081.
It also appreciated vis-a-vis the British pound to 5.3460/3531 from 5.3565/3635, and strengthened against the euro to 4.6831/6906 from 4.7155/7211.

  
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Tuesday, 15 May 2018

The Ringgit traded higher also, local note received support from local buyers till now local unit was quoted at 3.9480/9510.


Malaysia: The ringgit was unchanged against the US dollar despite gains made by the greenback following hints by the US Federal Reserve to further increase its interest rate.
As of 9am, the local unit was quoted at 3.9480/9510 against the US dollar, from Monday’s close of 3.9480/9530 (Forex Signal Malaysia).
A dealer said the local note received support from local buyers, post-general election.
Meanwhile, the ringgit traded higher against a basket of other major currencies (Daily Forex Signals).
It rose against the Singapore dollar to 2.9564/9598 from 2.9893/9929 on Monday, and increased versus the yen to 3.5966/6003 from 3.6466/6503 yesterday.
The local currency appreciated vis-a-vis the British pound to 5.3555/3599 from 5.4053/4113, and strengthened against the euro to 4.7111/7163 from 4.7673/7716.

  
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Monday, 14 May 2018

Bursa Malaysia on knee-jerk reaction local stock market as it created uncertainty. Among heavyweights Maybank lost; Public Bank eased; Tenaga fell; CIMB slumped; Petronas Chemicals went up.


Malaysia: Bursa Malaysia opened sharply lower today on knee-jerk reaction following a surprise win by Pakatan Harapan (PH) in the 14th General Election (GE14).
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 31.72 points at 1,814.79 from Tuesday's close of 1,846.51.
The index opened 32.06 points lower at 1,814.45.
A dealer said the unexpected defeat of the ruling Barisan Nasional coalition at the hands of PH in the just concluded GE14 on Wednesday last week was a negative surprise for the local stock market as it created uncertainty.
“Hence, a sharp correction is likely today,” he said.
He added that the immediate support was spotted at 1,811 and immediate resistance at 1,865.
Among heavyweights, Maybank lost 14 sen to RM10.56, Public Bank eased two sen to RM23.86, Tenaga fell 46 sen to RM15.60 and CIMB slumped 64 sen to RM6.26.
Petronas Chemicals went up one sen to RM8.43.
For actives, Sapura Energy added nine sen to 76 sen, Eden Inc gained 14 sen to 31 sen, Opcom perked 30 sen to 90.5 sen and Berjaya Corporation went up 5.5 sen to 36 sen.
Cuscapi lost 14.5 sen to 21 sen.
The FBM Emas Index fell 319.27 points to 12,566.44, the FBMT 100 Index declined 317.78 points to 12,380.66, the FBM Emas Shariah Index shed 359.04 points to 12,716.32, the FBM Ace slid 138.47 points to 5,073.86 and the FBM 70 lost 391.68 points to 14,911.58.
Sector-wise, the Industrial Index slipped 26.05 points to 3,170.5, the Finance Index was 383.24 points lower at 17,707.35 and the Plantation Index lost 80.75 points to 7,768.97.
On the broader market, losers led gainers 292 to 206, while 140 counters were unchanged, 1,241 untraded and 29 others suspended.
Volume stood at 314.78 million units valued at RM306.7 million.


  
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Thursday, 10 May 2018

Malaysia’s currency weakened in offshore trading. Ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461.


Malaysia: Malaysia’s currency weakened in offshore trading after the opposition claimed victory in Wednesday’s general election.
The ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461 against the dollar, after the Southeast Asia nation’s long-serving former premier, Tun Dr Mahathir Mohamed, 92, claimed that the opposition alliance he leads had won enough parliament seats to form the next government.
Official results showed that, Mahathir’s Pakatan Harapan (Alliance of Hope) had won 122 of parliament’s 222 seats and Prime Minister Datuk Seri Najib Razak’s ruling coalition, Barisan Nasional (BN), had won 79.
A simple majority of 112 seats is required by a party or alliance to rule.
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