Local investors drive demand up against greenback as others wait for direction. FMTNews US
KUALA LUMPUR: The ringgit opened slightly higher, driven by local investors, as international players waited on the sidelines for a clearer market direction.According to an analyst, concerns remain on whether demand for oil would rebound to pre-pandemic levels as the benchmark Brent crude stayed above US$40 per barrel.
On the local front, despite unemployment data showing an increase in April, the government’s Prihatin and Penjana stimulus packages will buffer the impact as those unemployed will still receive financial assistance.
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