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Ringgit likely to retreat, trading on Bursa seen to be in tight range, next week


  • Markets
  • Saturday, 9 Feb 2019

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid(pic) said the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) had been struggling to pierce its immediate resistance of 1,700 points over the last few weeks.  “External developments continue to take centre stage. Issues surrounding the trade negotiations between the US and China has always been the source of market instability," he said

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid(pic) said the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) had been struggling to pierce its immediate resistance of 1,700 points over the last few weeks. “External developments continue to take centre stage. Issues surrounding the trade negotiations between the US and China has always been the source of market instability," he said

KUALA LUMPUR: The ringgit's upward momentum after reaching a seven-month high on Friday is expected to hit a snag next week as renewed concerns loom over the global markets amid the ongoing US-China trade war.

A dealer said despite earlier reports that the White House would send a representative to Beijing to discuss trade matters, US President Donald Trump reportedly said he was less optimistic on a trade discussion as he would not meet Chinese President Xi Jinping.

Markets , Forex , Palm Oil

   

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