Making money is art and working is art and good business is the best art. #Ringgit opens high.

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.

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         DRBHCOM

         AAX

         DNEX

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Genting Sing

SingTel

SingPost

ThaiBev

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