FBM KLCI dips, ringgit hits new low

KUALA LUMPUR: Bursa Malaysia and the ringgit have taken a beating on Monday, in line with the weak sentiment in regional markets.

The FBM KLCI fell 2.92 points, or 0.2% to 1,438.12. The market traded within a range of 8.81 points between an intra-day high of 1,443.86 and a low of 1,435.05.

Some 743 counters declined compared to 195 gainers while 384 were unchanged on trade of 3.4 billion shares worth RM2bil.

The ringgit declined to 4.7887, down 0.44% against the US dollar. It is one of the worst performers in Asia in 2023.

Against the Singapore dollar, the ringgit fell 0.4% at 3.4889. The local unit fell 0.8% against the pound sterling at 5.8274 and down 0.67% against the euro at 5.0831.

Bank Negara said it will do whatever is necessary to ensure the ringgit continues to adjust in an orderly manner, which allows businesses to be facilitated as well.

Governor Datuk Abdul Rasheed Abdul Ghaffour said the central bank has a number of market measures that can be deployed to boost the ringgit if needed. However, he did not share the details of the measures.

On Bursa Malaysia, Batu Kawan slid 48 sen to RM20.50, F&N eased 34 sen to RM25.78, KESM fell 29 sen to RM6.81 and Nestle lost 20 sen to RM127.60.

Rapid jumped 38 sen to RM26.28, Hong Leong Financial Group rose 20 sen to RM17.46, Carlsberg added 14 sen to RM20.12 and Malaysian Pacific Industries climbed 12 sen to RM26.96.

Elsewhere in the region, Japan’s Nikkei 225 fell 0.83%, Hong Kong’s Hang Seng Index closed down 0.72%, South Korea’s Kospi added 0.76% and Singapore’s Straits Times Index lost 0.76%.

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FBM KLCI , Bursa Malaysia , Ringgit , KLCI


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