Appreciating ringgit pushing buying on blue chips

Trading on the local bourse remains lacklustre despite the FBM KLCI closing on a positive note at almost the 1,640 marks.

Buying on blue chips continued from the inflows of foreign funds possibly taking advantage of the appreciating Ringgit which strengthened to almost a 2-year high at RM4.35/USD1.

Appreciating ringgit

“As such, we expect the index to hover within the 1,635-1,645 range today,” says Rakuten.

Meanwhile, escalating violence in the middle-east saw crude oil prices higher as the Brent crude jumped above the USD81/barrel.