Bursa Malaysia, ringgit under pressure

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Bursa Malaysia, ringgit under pressure
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The FBM KLCI closed down 7.36 points, or 0.5% at 1,476.90.

The ringgit led losses among its peers to shed 0.6%. The local unit also hit a more than one-month low. It has fallen 2.3% so far in the week, its sharpest since the pandemic began, Reuters reported. For the week, the index gained 2.3 points, or 0.16%.

In the broader market, laggards outnumber gainers 627-to-282; about 3.27 million shares changed hands in deals worth RM2.1bil. Investor sentiment is expected to remain cautious in the short term ahead of the Budget 2023 announcement on Feb 24.

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