After snapping 10 straight days of losses on Tuesday, Bursa Malaysia seemed unsettled early Wednesday as investors awaited fresh positive catalysts to spur more buying interest.
At 9.41am, the FBM KLCI was down 0.4 of a point to 1,759.278. Turnover was 342.80 million shares valued at RM152.76mil. There were 207 gainers, 172 losers and 263 counters unchanged.
The ringgit rose 0.27% to 4.226 from the previous close of 4.2375 as he US dollar stepped back from a 1 1/2-month high against a basket of currencies on Wednesday.
Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.
Companies and banks in these countries have sizable external debt, although foreign exchange reserves currently appear adequate, the Washington-based multilateral lender said in a report on Wednesday.
At 9.41am, the FBM KLCI was down 0.4 of a point to 1,759.278. Turnover was 342.80 million shares valued at RM152.76mil. There were 207 gainers, 172 losers and 263 counters unchanged.
The ringgit rose 0.27% to 4.226 from the previous close of 4.2375 as he US dollar stepped back from a 1 1/2-month high against a basket of currencies on Wednesday.
Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.Companies and banks in these countries have sizable external debt, although foreign exchange reserves currently appear adequate, the Washington-based multilateral lender said in a report on Wednesday.
Here are other key details of the report:
- Monetary authorities need to be prepared to tighten their policy stance if capital outflows prompt currency weakness
- In the case of depreciation pressures in China, authorities should allow greater adjustment through relative prices and closely monitor financial sector vulnerabilities as monetary policy further tightens
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