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FBM KLCI Steady at 1,720 as Ringgit Strengthens and Foreign Funds Flow
The FBM KLCI concluded trading around the 1,720 mark, bolstered by robust late-session buying from investors. Market analysts attribute this resilience to anticipated continued inflows from foreign funds eager to acquire Malaysian shares. The ringgit further appreciated against the US dollar, reaching 4.00, with expectations it will soon breach this threshold, enhancing overall sentiment. FBM…
Markets Steady as FBM KLCI Hits YTD High on Foreign Buying, Ringgit Strengthens
The FBM KLCI closed near a year-to-date high, approaching the 1,720 level, supported by persistent foreign fund accumulation. Retail participation remained muted, reflected in lower trading volume. The ringgit strengthened to a five-year high against the US dollar. YTD High Wall Street ended broadly higher as market calm returned amid easing trade tensions and reduced geopolitical risks,…
Ringgit Poised for Continued Strength Amid Economic Gains
The recent strengthening of the Malaysian ringgit (MYR) against the U.S. dollar, which has appreciated by over 9% since April 2024. shows that the performance has been driven by several factors. Strong Domestic Economy: Malaysia’s economy has been robust, with a GDP growth of 5.9% in Q2 2024, driven by strong household spending, exports, and investment. This economic strength has supported the…
