Thursday, 2 July 2015

KLCI rallies, ringgit strengthens after Fitch upgrades outlook

The Malaysian stock market and the ringgit advanced in late Wednesday morning trade as investors turned upbeat after Fitch Ratings raised the outlook on Malaysia to Stable from Negative.

At 10.40am, the FBM KLCI surged 28.66 points or 1,735.30. Turnover was 809. 32 million valued at RM561.46mil. Advancers beat decliners 547 to 121 while 189 counters were unchanged.

The ringgit strengthened to 3.7408 against the US dollar.

Fitch Ratings affirmed Malaysia's Long-Term foreign currency Issuer Default Rating (IDR) at 'A-' and local currency IDR at 'A'.

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