KUALA LUMPUR, Nov 3 — The ringgit eased against the US dollar today amid a pullback in global artificial intelligence (AI)-related trading and investments.

At 6pm, the local note slipped to 4.0735/0775 against the greenback from Monday’s close of 4.0695/0735.

SPI Asset Management managing partner Stephen Innes said the ringgit’s weakness was largely driven by broader risk aversion, particularly as investors unwound AI-related investments.

He said Malaysia has been a major beneficiary of the global AI investment boom, particularly through its semiconductor industry and technology-related investment flows.