A combination of yuan appreciation, crude oil prices coming off their lows and shrinking likelihood of US interest rate hike this year contributed to the rise of the ringgit as one of the best performing Asian currencies.
With foreign capital returning to emerging Asian markets in search of higher yields, the ringgit gained 0.97% to close at 4.1310 against the US dollar.
This was in line with the rebound in Malaysia’s equity market, which saw its benchmark FTSE Bursa Malaysia KL Composite Index (FBM KLCI) rising 0.38% yesterday to close at 1,649.96, off an early high of 1,661.34, even as the country’s bond market continued to attract foreign inflows over the last five months.
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With foreign capital returning to emerging Asian markets in search of higher yields, the ringgit gained 0.97% to close at 4.1310 against the US dollar.
This was in line with the rebound in Malaysia’s equity market, which saw its benchmark FTSE Bursa Malaysia KL Composite Index (FBM KLCI) rising 0.38% yesterday to close at 1,649.96, off an early high of 1,661.34, even as the country’s bond market continued to attract foreign inflows over the last five months.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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