Highlights

Geopolitical tension weigh on RM in early trading

 Publish date: Wed, 8 Jan 2020, 10:36 AM

KUALA LUMPUR: The ringgit opened lower against the US dollar in early session today on weaker demand as traders shifted towards safe-haven US dollar due to escalating geopolitical tension in the Middle East.

As at 9.06 am, the ringgit was at 4.1100/1140 against the US dollar from 4.0910/0950 at yesterday's close.

A dealer said the escalating tensions in the Middle East has hampered buying sentiment for the local note, following rocket attacks on US military bases in Iraq.

"Traders are worried that the tension will persist and have a negative effect on investors' risk appetite moving forward," he added.

Meanwhile, the ringgit was traded lower against a basket of major currencies.

It fell against the Singapore dollar to 3.0413/0454 from 3.0331/0369 and declined against the Japanese yen to 3.8087/8135 from 3.7715/7759.

The local note depreciated against the British pound to 5.3894/3955 from 5.3887/3956 and was lower against the euro to 4.5868/5916 from 4.5750/5811.


 -  Bernama

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View candlestick stock charts with Technical indicators
MQ Affiliate
Be rewarded by being an MQ Affiliate
 
 

574  435  584  558 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 PA 0.20+0.015 
 IRIS 0.395+0.025 
 PA-WB 0.14+0.03 
 AT 0.170.00 
 VIVOCOM 0.965+0.13 
 DNEX 0.285+0.005 
 JAKS 0.69+0.015 
 SCIB 2.99+0.45 
 KSTAR 0.115-0.03 
 DNEX-WD 0.055-0.005 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS