KUALA LUMPUR – Bursa Malaysia opened mixed today, amid weaker Wall Street performance overnight.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI edged up 0.04 of a point to 1,581.3 from 1,581.26 at yesterday’s close.
The key index opened 1.42 points higher at 1,582.26.
On the broader market, losers led gainers 354 to 167, while 285 counters were unchanged, 1,349 untraded and nine suspended.
The ringgit, meanwhile, opened lower against the United States dollar due to the strengthening greenback, which is supported by surging US bond yields.
At 9.03am, the local currency slipped to 4.0680/0730 against the US dollar from 4.0550/0600 at yesterday’s close.
Axi chief global market strategist Stephen Innes said other emerging currencies are also reeling after US bonds broke above the 1.5% perceived speed limit.
“But oil prices, which rose higher by over 4% after the Organisation of the Petroleum Exporting Countries held production in check, serves as a mitigating factor, and could hold the local note’s losses in check.” – Bernama, March 5, 2021
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