KUALA LUMPUR – Bursa Malaysia extended yesterday’s gains to open higher today despite its Asian peers’ muted performance, taking a cue from a mixed showing on Wall Street overnight.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI rose 5.97 points to 1,617.78 from yesterday’s close of 1,611.81.
The key index opened 4.18 points higher at 1615.99.
On the broader market, however, losers led gainers 263 to 245, while 324 counters were unchanged, 1,346 untraded and eight suspended.
Total volume stood at 313.4 million units worth RM189.6 million.
The ringgit, meanwhile, extended its weakness against the United States dollar at the opening, on firmer buying support for the greenback on elevated US bond yields.
At 9am, the local note dropped to 4.1180/1230 against the dollar from 4.1050/1100 at yesterday’s close.
Axi’s chief global market strategist, Stephen Innes, said the US 10-year Treasury yields remain resilient, hovering around 1.6%, as the country makes progress on its massive US$1.9 trillion (RM7.83 trillion) economic stimulus and Covid-19 relief package. – Bernama, March 9, 2021
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