KUALA LUMPUR – Bursa Malaysia ended in the red today, continuing yesterday’s losses despite attempting a rebound after Wall Street’s overnight rally, on selling pressure in heavyweight stocks.
At 5pm, the FBM KLCI was 5.33 points down at 1,578.91 from yesterday’s close of 1,584.24.
The index opened 4.03 points higher at 1,588.27 and moved between 1,575.18 and 1,589.06 throughout the trading session today.
On the broader market, losers beat gainers 650 versus 382, while 469 counters were unchanged, 630 untraded and nine others suspended.
Total volume decreased to 6.27 billion shares valued at RM3.22 billion from 7.84 billion shares valued at RM2.80 billion on Monday.
Meanwhile, the ringgit reversed its losses yesterday to close higher against the US dollar today as the greenback fell on the back of rallies in US equities, said a dealer.
At 6pm, the local currency traded at 4.1300/1330 against the greenback, compared with 4.1400/1450 at yesterday’s close.
Axi chief global markets strategist Stephen Innes said the dollar has continued to struggle due to softer US yield, which aided oil prices.
“The US dollar is weaker through the global risk-on channel as forex traders are selling the dollar, in anticipation that investors will be putting more money to work outside of the US,” he said. – Bernama, April 6, 2021
