Tuesday 06 Jun 2023
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KUALA LUMPUR (Feb 27): The ringgit strengthened against the US dollar yesterday as Malaysian shares rose with Asian equties.

The ringgit settled at 4.2123 versus the US dollar after trading within an intraday range of 4.1887 to 4.2320.

The FBM KLCI closed 5.28 points or 0.3% higher at 1,663.44. Across Asia, Japan's Nikkei 225 gained 0.3% while Hong Kong's Hang Seng rose 2.52%.

On Bursa Malaysia, decliners outpaced gainers by 492 to 335. The bourse saw 1.69 billion shares valued at RM1.95 billion traded.

AEON Credit Services (M) Bhd was the top gainer while Petron Malaysia Refining and Marketing Bhd was the top decliner. PUC Founder (MSC) Bhd was the most-actively traded stock.

Kenanga Investment Bank Bhd research head Chan Ken Yew told theedgemarkets.com the local share market was still "more externally driven."

This was despite Malaysian corporate financials improving during 2015's Oct to Dec quarter compared with the preceding quarter, according to Chan.

Reuters reported that Asian shares made guarded gains on Friday as the gathering of G20 finance leaders provided a welter of reassuring comments, but little in the way of actual policy stimulus.

In commodity markets, oil prices fell on Friday as investors cashed out big weekly profits after a rally driven by disruptions to crude supplies and Wall Street's gains from U.S. economic data.


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