KUALA LUMPUR – Continued buying momentum supported Bursa Malaysia to open higher today, amid some volatility as sentiment on glove counters remains fragile.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI rose 4.48 points to 1,590.61 from 1,586.13 at yesterday’s close.
The index opened 0.81 of a point better at 1,586.94.
Market breadth was positive, with gainers outpacing losers 263 to 178, while 299 counters were unchanged, 1,409 untraded and 14 suspended.
Total volume stood at 252.86 million units worth RM149.42 million.
Meanwhile, the ringgit strengthened against the United States dollar in the early session today, on the back of continued buying interest and supported by higher oil prices.
At 9am, the local note traded higher at 4.0450/0459 against the greenback from yesterday’s close of 4.0460/0500.
Axi chief global market strategist Stephen Innes said the ringgit traded well in line with other oil-exporting countries’ currencies, and was further boosted by a stronger yuan on robust credit demand expectations in China last month. – Bernama, February 10, 2021
