Ringgit strengthens against dollar on soft US economic data
KUALA LUMPUR : The ringgit continues to strengthen against the US dollar on Thursday, amid weaker US economic data, an analyst said.
At 8am, the local currency inched up to 4.2305/4.2405 against the dollar versus the yesterday's close of 4.2345/4.2370.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index (DXY) slid 0.47% to 98.631 points as US inflation rate came in lower than expected.
MORE TO COME
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
17 minutes ago
- Malay Mail
Heads up, Penang motorists: Lane closures, new routes as The Light Interchange progresses
GEORGE TOWN, June 13 — IJM Land Berhad (IJM Land) today announced scheduled infrastructure works and updates on new road access as part of the advancement of The Light Interchange development here. In a statement, the developer of The Light Waterfront Penang stated that temporary lane closures, affecting the George Town-bound lanes of the Tun Dr Lim Chong Eu Expressway, would be implemented from June 16 to 27, from 10 pm to 5 am, to facilitate the dismantling of the existing pedestrian bridge. '...works will be carried out during off-peak hours to minimise disruption. Road users are advised to follow traffic instructions and remain cautious when approaching the affected area,' read the statement. The developer will also open the elevated road from Jalan Tunku Kudin (Bayan Lepas-bound) to The Light Waterfront Penang, effective July 1, providing direct and seamless access for motorists travelling from the Green Lane area into The Light Waterfront Penang. IJM Land also announced the opening of a permanent exit road (Bayan Lepas-bound) from The Light Waterfront Penang, adding that the current temporary exit will be permanently closed. 'All necessary signage has been put in place to guide motorists through the new route,' it added. — Bernama
Malay Mail
32 minutes ago
- Malay Mail
Cautious mood hits Bursa at opening despite US inflation cheer
KUALA LUMPUR, June 13 — Bursa Malaysia opened lower on Friday, retreating from the previous day's gains, weighed down by weak performances across regional markets. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.61 points to 1,521.01 from Thursday's close of 1,526.62. The benchmark index had opened 4.15 points lower at 1,522.47. Market breadth was negative, with 262 decliners outpacing 89 advancers. Another 204 counters were unchanged, while 1,866 were untraded and 17 suspended. Turnover stood at 136.4 million shares worth RM69.83 million. The softer opening came despite a positive close on Wall Street, as investors shrugged off concerns over the impending expiry of the 90-day US-China tariff pause on July 9. Regional markets traded broadly lower. Singapore's Straits Times Index shed 0.41 per cent to 3,906.02, Hong Kong's Hang Seng Index dropped 1.36 per cent to 24,035.38, South Korea's Kospi eased 1.26 per cent to 2,883.35, and Japan's Nikkei 225 declined 1.48 per cent to 37,607.41. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said sentiment remained supported by a cooler-than-expected US Producer Price Index (PPI), which came in slightly below forecast. 'The benchmark index is expected to trend within the 1,520 to 1,530 range today,' he said. Similarly, Public Investment Bank Bhd said the FBM KLCI could have opened higher in line with overnight gains on Wall Street, spurred by another encouraging US inflation reading. Among heavyweight losers, MISC Bhd led the declines, falling 15 sen to RM7.55, followed by YTL Power International Bhd, down six sen to RM3.64. Malayan Banking Bhd and YTL Corp Bhd eased four sen each to RM9.73 and RM2.16, respectively, while Petronas Gas Bhd lost 20 sen to RM17.88. Among the most actively traded stocks, Jaks Resources Bhd was flat at 10 sen, Velesto Energy Bhd edged up half a sen to 18.5 sen, while Astro Malaysia Holdings Bhd slipped half a sen to 18.5 sen. OCR Group Bhd was unchanged at 3.5 sen, and Hibiscus Petroleum Bhd added six sen to RM1.61. On the index board, the FBM Emas Index slipped 40.29 points to 11,404.63, the FBMT 100 Index fell 44.89 points to 11,169.38, and the FBM Emas Shariah Index eased 43.56 points to 11,353.94. The FBM 70 Index shed 80.67 points to 16,421.99, while the FBM ACE Index slipped 24.93 points to 4,499.76. By sector, the Plantation Index rose 14.81 points to 7,208.55, and the Energy Index added 10.35 points to 736.48. The Financial Services Index fell 35.30 points to 17,753.97, while the Industrial Products and Services Index dipped 0.75 of a point to 151.44. — Bernama
Malay Mail
an hour ago
- Malay Mail
Malaysia named top Muslim-friendly travel destination for 10th straight year
KUALA LUMPUR, June 13 — Malaysia has once again reaffirmed its position as the world's leading Muslim-friendly travel destination, clinching the 'Top Muslim-Friendly Destination of the Year' title in the Global Muslim Travel Index (GMTI) 2025, marking a decade of dominance since the inception of the index. The prestigious accolade was presented at the 4th Halal in Travel Awards held in Singapore, with Deputy Minister of Tourism, Arts and Culture (MOTAC), Khairul Firdaus Akbar Khan, accepting the award on Malaysia's behalf. In his acceptance speech, Khairul Firdaus described the recognition as a proud milestone for the nation, and a tribute to the dedication of industry players, government agencies, and local communities in positioning Malaysia as a welcoming destination for Muslim travelers worldwide. 'This award reflects the collective efforts of our tourism stakeholders who continue to champion inclusivity, accessibility and excellence in hospitality,' he said. The GMTI, developed by CrescentRating, has been tracking the performance of destinations in the Muslim travel segment since 2015. Malaysia has consistently led the rankings, underscoring its strong commitment to building and enhancing Muslim-friendly tourism infrastructure and services. Khairul Firdaus also acknowledged the pivotal role of the Islamic Tourism Centre (ITC), which he described as the driving force behind Malaysia's achievements. He highlighted ITC's flagship initiatives, including the Muslim-Friendly Tourism and Hospitality Assurance and Recognition (MFAR) program and the Muslim-Friendly Tourist Guides (MFTG) certification, as key enablers of industry-wide service excellence. 'In Malaysia, hospitality is not an afterthought – it is part of who we are. It is deeply rooted in our culture, our heritage and our national tourism policies,' he said, adding that the ultimate goal is to ensure every traveler feels welcomed, respected and at ease. He also expressed appreciation to CrescentRating and Mastercard for their unwavering commitment in promoting Muslim-friendly travel through platforms such as the Halal in Travel Global Summit. As the global Muslim travel market continues to grow, Khairul Firdaus noted that recognition such as this not only encourages healthy competition among destinations, but also affirms the increasing consumer influence of Muslim traveler in shaping global tourism trends. Looking ahead, he extended a warm invitation to travelers around the world to experience Visit Malaysia Year 2026, promising vibrant festivities, diverse cultures and unforgettable experiences. — Bernama
