KUALA LUMPUR – Bursa Malaysia continued to trend lower in early trade on Friday amid the ongoing reporting season without any fresh catalysts to boost market sentiment.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.20 points to 1,516.40 from 1,517.60 at yesterday’s close.
The index opened 0.57 of-a-point higher at 1,518.44.
Losers led gainers 240 to 114, while 229 counters were unchanged, 1,729 untraded and 38 others suspended.
Meanwhile, the ringgit slipped further to open lower against the US dollar today as the greenback continues to rally amid the release of Initial Jobless Claims data, which helped the US currency gain versus its counterparts.
At 9am, the local note eased to 4.2325/2365 against the greenback from 4.2295/2300 at yesterday’s close.
ActivTrades trader, Dyogenes Rodrigues Diniz said analysts are forecasting a possible increase of 0.75% in the US interest rate in 2022 and the market has already started pricing this in. – Bernama, November 26, 2021
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