KUALA LUMPUR – Bursa Malaysia opened easier but rebounded thereafter today, tracking the better performance on Wall Street last week, on positive sentiment brought about by the strong manufacturing data around the world and a drop in bond yields.
At 9.08am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.22 points to 1,585.35 from last Friday’s close of 1,582.64.
The index opened 0.46 points easier at 1,586.51.
On the broader market, gainers led losers 349 to 150, while 345 counters were unchanged, 1,287 untraded and eight others suspended.
Total volume stood at 492.45 million shares worth RM180.01 million.
Meanwhile, the ringgit opened unchanged against the US dollar but was higher versus a basket of major currencies, supported by the seasonal demand bounce on crude oil demand.
At 9am, the local unit stood at 4.1380/1430 versus the greenback from 4.1380/1420 at Friday’s close.
Axi chief global market strategist Stephen Innes said the positive trend for the local note against the major currencies (except the US dollar) was also due to the recovery in the bond market, which recovered sharply last week on the FTSE news. – Bernama, April 5, 2021
