KUALA LUMPUR – Bursa Malaysia continued its downtrend to open broadly lower today as market participants kept close watch on any potential downside risk to the financial situation following the collapse of Silicon Valley Bank.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI fell 19.08 points to 1,414.00 from Friday’s close of 1,433.08.
The key index opened 13.66 points lower at 1,419.42.
Market breadth was negative with decliners thumping gainers 487 to 53, while 181 counters were unchanged, 1,514 untraded, and 23 others suspended.
Turnover amounted to 537.88 million units worth RM182.50 million.
Meanwhile, the ringgit opened marginally higher versus the US dollar this morning ahead of the United States’ February inflation report to be released this week, said an analyst.
At 9am, the local note strengthened to 4.5120/5175 versus the greenback compared with Friday’s closing rate of 4.5180/5220.
Bank Muamalat Malaysia Bhd head of economics, market analysis, and social finance Mohd Afzanizam Abdul Rashid said the headline Consumer Price Index (CPI) and core CPI were likely to go up by 6.0% and 5.5% in February from 6.4% and 5.6%, respectively, in the previous month based on consensus estimates. – Bernama, March 13, 2023
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