Business

Bursa rises after Wall St surge on hopes of slowing interest rate hikes

Ringgit barely moves against US dollar due to lack of fresh market catalysts

Updated 3 years ago · Published on 25 Oct 2022 10:24AM

Bursa rises after Wall St surge on hopes of slowing interest rate hikes
The benchmark FTSE Bursa Malaysia KLCI rose 2.21 points to 1,448.63 after 13 minutes, compared to Friday’s close of 1,446.42. – The Vibes file pic, October 25, 2022

KUALA LUMPUR – Bursa Malaysia opened the new week higher after Wall Street made sharp gains overnight on hopes for an easing of US interest rate hikes after the country posted sluggish manufacturing purchasing managers’ index (PMI) data.

The benchmark FTSE Bursa Malaysia KLCI rose 2.21 points to 1,448.63 after 13 minutes, compared to Friday’s close of 1,446.42.

The market bellwether opened higher by 2.72 points at 1,449.14.

On the broader market, gainers outpaced losers 253 to 134, while 249 counters were unchanged, 1,716 untraded, and 12 others suspended.

Turnover stood at 280.61 million units worth RM119.85 million.

The ringgit opened barely changed against the US dollar due to the absence of fresh market catalysts.

At 9am, the local currency decreased marginally to 4.7390/7405 against the greenback from last Friday’s close of 4.7380/7395. – Bernama, October 25, 2022

Related News

Business / 2mth

Tycoon Vincent Tan trims BCorp stake further in RM115m share sale

Business / 3mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 4mth

Ringgit retreats to 4.00 versus the US Dollar amid West Asia ceasefire uncertainties

Business / 5mth

BNM ensures orderly financial markets amid global uncertainties

Malaysia / 5mth

Middle East conflict: Brace for more expensive imports - Tengku Zafrul

Places / 8mth

Planning a year-end break? The Land of the Rising Sun beckons

Spotlight

Malaysia

Teacher arrested after allegedly assaulting 14-year-old student and slapping his mother

Malaysia

Untreated mental illness worsened teen’s condition, court hears

Malaysia

Anwar cherishes heartfelt painting gifted by child at Negeri Sembilan event

Malaysia

Rocky’s death: I had no intention to harm any animal – says man at the centre of storm

By Alfian Z.M. Tahir

Malaysia

Inspector, policewoman plead guilty to khalwat

Malaysia

SARA aid may be expanded to put healthier food within reach of all Malaysians

Malaysia

Rescue efforts ongoing after fisherman finds cats abandoned off Pulau Ketam (video)

By Alfian Z.M. Tahir

Malaysia

Kelana Jaya LRT train breaks down, passengers stranded on tracks (video)

By Alfian Z.M. Tahir

You may be interested

Business

Oil prices fall as markets weigh prospects of Hormuz reopening

Business

Fatal Red Sea attacks spark fresh oil price spike despite diplomatic talks

Business

SC wins court leave to pursue contempt proceedings against ex-APL director

Business

Port businesses badly hit by uncertainty over commingled oil tax – maritime expert

Business

Govt tightens import controls to protect consumers and ensure fair competition

Business

Nation’s wholesale and retail trade surges 10.1% to RM168.5 billion

Business

BNM - SC accelerates sustainable finance push with ASEAN Taxonomy adoption