Selling pressure eases - Business News - News Summed Up

Selling pressure eases - Business News


Following the news flow on Malaysia’s potential disqualification from the World Government Bond Index (WGBI), the ringgit has already come under pressure as the local note weakened against major currencies yesterday. However, the selling pressure eased after mid-day as the ringgit saw some recovery, after the market seemed to have digested the news flow on the WGBI exclusion. In the event of a downgrade, Malaysia will be removed from the WGBI, stated FTSE Russell. “The effects could be extended to the currency market and the ringgit may experience downward pressure in the short term. He also said that MGS yields rose by three to 14 basis points (bps) across the board yesterday, as a result of the FTSE Russell announcement.


Source: The Star April 17, 2019 23:03 UTC



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