Asian shares managed a semblance of calm on Thursday as the U.S. Federal Reserve signalled it was in no rush to taper stimulus, though the mood was fragile as investors waited to see if Beijing could stem the recent bloodletting in Chinese shares.

The ringgit opened higher against the US dollar on Thursday as the greenback continued to move sideways against the local note after no changes were made to the US monetary policy, a dealer said.

Bursa Malaysia rose after opening today as investors digested the spillover of the overnight US market which was mixed with the Nasdaq rallying while the Dow fell amid a slew of corporate earnings.

Gold prices rose to its highest level in over a week on Thursday after the U.S. Federal Reserve failed to give a timeline for its tapering plans and said it was "ways away" from considering raising interest rates.

Malaysia's exports rose 27.2 percent to 105.47 billion ringgit (about 24.93 billion U.S. dollars) from a year earlier in June as exports to China surged to record high.

Asian emerging stock markets fell across the board on Wednesday as a rout in Chinese equities for a fourth consecutive session sapped risk appetite, ahead of a US Federal Reserve policy meeting later in the day.

The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections.

The International Monetary Fund (IMF) has revised downwards the 2021 economic outlook for Asean-5 countries by 0.6 per cent to 4.3 per cent, as the recent Covid-19 infection waves are causing a drag on activity.

China's economy is projected to tick up 8.1 percent in 2021 and 5.7 percent in 2022, the International Monetary Fund (IMF) said Tuesday.

Oil prices were steady on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging COVID-19 cases worldwide.