KUALA LUMPUR – Bursa Malaysia opened higher today, with sentiment boosted by Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the Strategic Programme to Empower the People and Economy, or Pemerkasa, and positive Wall Street.
At 9.06am, the benchmark FTSE Bursa Malaysia (FBM KLCI) inched up 5.83 points to close at 1,630.80 versus yesterday’s close of 1,624.97.
The index opened 1.21 points higher at 1,626.18.
On the broader market, gainers surpassed losers 355 to 207, while 316 counters were unchanged, 1,369 untraded, and 27 others suspended.
Total volume stood at 713.02 million shares worth RM218.72 million.
Malacca Securities believes the RM20 billion economic stimulus package, which includes several programmes such as an increase in micro-credit financing and the extension of wage subsidy, will strengthen the economic recovery and market sentiment moving forward.
The ringgit opened in a relief rally by gaining 100 basis points against the US dollar following the dovish Federal Open Markets Committee’s outcome, which decided to keep the US interest rates near zero.
At 9am, the local note advanced to 4.1090/1130 against the greenback from 4.1190/1240 at yesterday’s close. – Bernama, March 18, 2021
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