Ringgit and market resurgence

Good start: Stock prices displayed inside a trading gallery. Further upside may be present in the next three to six months depending on how the government moves forward, says Wong. — Bloomberg

INCREASED political certainty and stability in the country amid a challenging global landscape will underscore a recovery in the value of the ringgit and the local equities market. This is following the appointment of Datuk Seri Anwar Ibrahim as the new prime minister of Malaysia.

The ringgit was the best performing currency in Asia for the last two days as it has strengthened by almost 3% against the US dollar amid expectations of smaller interest rate rises by the US Federal Reserve (Fed).