M'sian stocks, ringgit surge after Fitch maintains rating
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Kuala Lumpur
MALAYSIA's equities and currency enjoyed a boost on Wednesday after Fitch Ratings affirmed the sovereign's long-term foreign currency rating at A- and revised the outlook upwards from negative to stable.
The ringgit strengthened to 3.73 against the US dollar from 3.77 or a recent 10-year low but is seen remaining weak; RHB Investment Bank expects it to trade within the 3.65-3.75 range as foreigners are likely to adjust their portfolios ahead of a projected US rate hike in September.
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