KUALA LUMPUR – Bursa Malaysia opened lower today, tracking the significant overnight losses on Wall Street, said an analyst.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 7.63 points to 1,506.35 from 1,513.98 yesterday.
The benchmark index opened 6.50 points weaker at 1,507.48.
On the broader market, decliners outnumbered gainers 284 to 116, while 199 counters were unchanged, 1,678 untraded, and 21 others suspended.
Turnover stood at 220.14 million units worth RM163.42 million.
Meanwhile, the ringgit extended yesterday’s gains to open higher against the United States dollar today, as the greenback continued to weaken in reaction to a statement from the US Federal Reserve (Fed).
The market had taken note of the speech by Fed chair Jerome Powell, which indicated that a stronger and long-lasting inflation is a real possibility, dealers said.
At 9am, the local note rose to 4.2020/2065 against the greenback from 4.2025/2055 at Tuesday’s close. – Bernama, December 1, 2021
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