This may lead to further easing of the US dollar and, in turn, allow the appreciation of the ringgit. “We also expect more stable interest rates and hopefully a pause on interest rate hikes. Hong Leong Investment Bank (HLIB) Research said the worst could be over for the ringgit. “Secondly, our case for a ringgit appreciation bias in 2023 is also good for the market – broadly, the FBM KLCI has reacted positively during times of ringgit strength, vice-versa,” it added. CGS-CIMB Research also concurs that a stronger ringgit will boost interest in the Malaysian equity market.

Source: The Star December 29, 2022 05:22 UTC