Multi Management and
Future Solutions: The ringgit continued its downtrend on Tuesday due to soft demand for
the local unit.
At
9am, the local currency was quoted at 4.2790/2820 against Monday's close of
4.2705/2735.
FXTM
Vice-President for Corporate Development and Market Research, Jameel Ahmad,
said the market is keenly awaiting the release of May's Manufacturing
Purchasing Managers' Index (PMI), expected on Thursday.
“It
is going to be a relatively quiet week on the economic data front for Malaysia,
but due to the upside surprise from the recent Gross Domestic Product data,
there will be optimism that the Manufacturing PMI will show that the Malaysian
economy is carrying the same momentum into the second quarter of 2017," he
said in a statement.
Investors
are expected to remain on the sidelines to see how the market will react to the
report on Thursday.
Against
other major currencies, the ringgit was traded mostly higher. It rose against
the Singapore dollar to 3.0849/0886 from 3.0858/0891 on Monday, increased
against the British pound to 5.4780/4844 from 5.4825/4872, rose against the
euro to 4.7638/7684 from 4.7770/7816, but declined against the yen to
3.8546/8590 from 3.8345/8386 previously.
Hot Stocks Today for BURSA KLSE:
Hot Stocks Today for SGX:
Genting Sing
SingTel
SingPost
ThaiBev
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