KUALA LUMPUR, March 21 (Bernama) -- Bursa Malaysia’s benchmark index ended the day marginally higher supported by renewed buying interest in blue-chip stocks, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.29 points to 1,505.45 from Thursday’s close of 1,504.16. The benchmark index opened 0.29 of-a-point lower at 1,503.87 and moved between 1,503.71 and 1,513.23 throughout the day. On the broader market, losers outpaced gainers 513 to 371 while 428 counters were unchanged, 1,125 untraded, and 29 suspended. Turnover rose to 3.43 billion units worth RM4.28 billion from 3.27 billion units worth RM2.64 billion on Thursday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said buying interest was seen particularly within defensive sectors such as utilities, healthcare, and banking during the morning session.
The ringgit took a breather this morning, slipping slightly against the US dollar as traders digest the US Federal Reserve’s latest policy signals. As of 8am, the local unit stood at 4.4245/4360 per USD, down from 4.4215/4270 the previous close.
Muted Reaction to Fed Cues
According to UOB Kay Hian’s Mohd Sedek Jantan, the market remains without strong directional signals. Overnight, US Treasury yields wavered but ended flat, suggesting no immediate catalyst for major capital flows.
“While Asian currencies, including the ringgit, briefly rose following the FOMC meeting, the gains were short-lived,” he said. With reciprocal US tariffs expected on April 2, risk sentiment could weaken further, driving investors toward the safe-haven greenback.
Mild CPI May Keep BNM Steady
Bank Muamalat’s Dr. Mohd Afzanizam Abdul Rashid highlighted today’s February CPI data as a key watchpoint. Inflation is projected to come in at 1.5% YoY, compared to 1.7% in the prior two months.
A softer reading would likely reaffirm Bank Negara Malaysia’s current monetary policy stance, with no rate hikes in sight.
Afzanizam expects the ringgit to trade within 4.42 to 4.43 against the USD for the day.
Ringgit vs Major & Regional Currencies
The ringgit weakened broadly this morning:
- Euro: 4.8028/8153 (vs 4.7973/8033)
- British Pound: 5.7368/7517 (vs 5.7276/7347)
- Japanese Yen: 2.9773/9852 (vs 2.9728/9767)
ASEAN currencies:
- Singapore Dollar: 3.3150/3241 (vs 3.3117/3164)
- Philippine Peso: 7.73/7.76 (vs 7.72/7.74)
- Indonesian Rupiah: 268.3/269.2 (vs 268.1/268.6)
- ✅ Thai Baht: Strengthened slightly to 13.1112/1538 (vs 13.1163/1388)
Takeaway for Investors
The ringgit’s pullback comes amid cautious global sentiment. While inflation remains under control at home, external risks — especially looming tariffs and a still-uncertain Fed outlook — may continue to pressure the local note. Traders should stay tuned to upcoming inflation data and tariff developments as key drivers for ringgit movement in the short term.
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