KUALA LUMPUR – Bursa Malaysia continued its upward momentum at the opening today, as market sentiment was aided by steady crude palm oil (CPO) and benchmark Brent oil prices, on the back of an Opec+ decision to gradually restore supply, said an analyst.
At 9.03am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.36 points, or 0.09%, to 1,599.30 from 1,597.94 at yesterday’s close.
The index opened 1.14 points higher at 1,599.08.
Market breadth was positive with gainers leading losers 262 to 82, while 232 counters were unchanged, 1,566 untraded and 12 others suspended.
Total volume stood at 295.43 million units worth RM117.72 million.
Meanwhile, the ringgit continued to strengthen against the US dollar to open higher today, as global oil demand sustained its recovery with oil price hovering above US$71 per barrel, a dealer said.
At 9.02am, the local currency rose to 4.1190/1220 against the greenback from yesterday’s close of 4.1240/1250.
At the time of writing, the benchmark Brent crude oil advanced 0.38 per cent to US$71.62 per barrel. – Bernama, June 3, 2021
