KUALA LUMPUR – Bursa Malaysia continued its upward momentum to open higher today, tracking the performance of stronger overnight United States equities, with the Nasdaq rallying to recoup previous losses as bond yields retreated.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI rose 5.94 points to 1,630.72 from yesterday’s close of 1,624.78.
The key index opened 4.25 points higher at 1629.03.
On the broader market, losers outpaced gainers 420 to 145, while 314 counters were unchanged, 1,316 untraded and eight suspended.
Total volume stood at 436.02 million units worth RM282.23 million.
Meanwhile, the ringgit opened flat against the US dollar, with investors staying on the sidelines as they await fresh domestic catalysts.
At 9am, the local note traded at 4.1150/1210 against the greenback from 4.1150/1200 at yesterday’s close.
Axi chief global market strategist Stephen Innes said after touching above 4.13 at one point yesterday, primarily due to higher US bond yields, the ringgit is being cushioned by foreign exchange risk-friendly comments from the People’s Bank of China. – Bernama, March 10, 2021
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