KUALA LUMPUR – Bursa Malaysia rebounded from yesterday’s loss to open higher today, driven by renewed buying interest in selected consumer products and services counters as well as utility stocks, dealers said.
At 9.25 am, the benchmark FTSE Bursa Malaysia KLCI rose 7.66 points to 1,511.67 from 1,504.01 at yesterday’s close.
The benchmark index opened 0.08 of a point higher at 1,504.09.
On the broader market, gainers led decliners 238 to 163, while 279 counters were unchanged, 1,585 untraded, and six others suspended.
Turnover stood at 343.07 million units worth RM185.71 million.
The ringgit opened lower against the US dollar today as poor Chinese economic data weighed on emerging currencies, including the ringgit, analysts said.
At 9am, the local currency weakened to 4.4650/4670 versus the greenback from yesterday’s close of 4.4570/4595.
Oil prices also fell following the disappointing economic data from the world’s largest crude oil importer and the world’s second largest crude oil consumer, China. – Bernama, August 16, 2022
