Malaysia: Strong export data helps boost market sentiment

  • Aug 09, 2016

Malaysia: Strong export data helps boost market sentiment

Friday, 5 August 2016 – The stronger-than-expected export data for June gave the stock market a much needed base and also shored up the ringgit at the midday break on Friday.

At midday, the FBM KLCI was up 3.24 points or 0.2% to 1,658.53. Turnover was 1.13 billion shares valued at RM710.37mil. There were 347 gainers, 292 losers and 331 counters unchanged.

Reuters reported oil prices fell as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China’s imports, ending a two-day short-covering rally. US light crude futures fell 33 cents to US$41.60 and Brent shed 39 cents to US$43.90.

The ringgit managed to recover and it was quoted at 4.0355 to the US dollar from the previous close of 4.0507 and it was at 5.3002 to the pound sterling from 5.3846. It was at 3.0103 against the Singapore dollar from 3.0141 while against the Euro it advanced to 4.4946 from 4.5096. Read More?