Business · Malaysia Bureau
Ringgit weakens against dollar as tech stock volatility weighs
The Malaysian ringgit retreated against the US dollar Friday as investors reassessed technology sector valuations amid artificial intelligence-related market concerns. The currency depreciated to 4.0835/4.0875 from Thursday's closing level of 4.0815/4.0850.
LSN Malaysia ·
The ringgit's decline reflects broader market caution surrounding artificial intelligence stocks, which have faced renewed selling pressure as investors recalibrate growth expectations and valuations in the tech sector.
The currency pair closed at 4.0835/4.0875 against the greenback at 6pm Friday, marking a slight softening from the previous day's finish. The movement underscores the ringgit's sensitivity to shifts in regional equity sentiment and international investor positioning.
AI-related stock concerns have prompted a flight to safety in recent trading sessions, with the US dollar benefiting from its traditional role as a safe-haven currency. This dynamic has placed emerging-market currencies including the ringgit under modest pressure.
Analysts expect the ringgit's direction to remain contingent on how technology valuations stabilize and whether broader risk sentiment shows signs of recovery in coming sessions.