Ringgit extends gains as c.bank surprises with rate hike

MALAYSIA's ringgit extended gains after its central bank hiked interest rates in a surprise move on Wednesday, while stocks across Asia declined ahead of the U.S. Federal Reserve's monetary policy decision.

The ringgit - down over 1% this year and among the worst performing currencies in the region - appreciated to 4.4480 per U.S. dollar following a 25 basis-point hike by Bank Negara Malaysia. The currency was last up 0.3%.