KUALA LUMPUR – Bursa Malaysia today continues its upbeat momentum from yesterday, driven by encouraging performance of almost all index.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI gained 2.27 points to 1,514.70 from previous close of 1,512.43.
On the broader market, gainers powered above losers 272 to 114, while 266 counters were unchanged, 1,443 untraded and 20 others suspended.
Total volume stood at 313.40 million units worth RM209.83 million.
Meanwhile, the ringgit strengthened in early trade against the US dollar today as risk appetite rises, triggered by the diminishing US presidential election uncertainty and optimism around a US fiscal stimulus.
At 9am, the local currency was traded at 4.1460/1510 versus the greenback compared with 4.1500/1550 at yesterday's closing.
AxiCorp chief global market strategist Stephen Innes said the US dollar weakness in 2021 remains a slightly blemished consensus, but it is going to take a policy shocker to shake the market off the US dollar bearish axis.
Ambank Investment Bank, in a note, expected the ringgit to trade between its support level of 4.1291 and 4.1390, while resistance level is pinned at between 4.1654 and 4.1773. – Bernama, October 6, 2020
