KUALA LUMPUR – Bursa Malaysia maintained its uptrend this morning, taking its cue from Wall Street’s solid performance as traders were optimistic that the United States’ economy is on the right track to recovery.
This was fuelled by Federal Reserve chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.
At 9.05am, the benchmark FBM KLCI rose 12.34 points to 1,614.74 from yesterday’s close of 1,602.40.
The index opened 12.55 points higher at 1,614.95.
On the broader market, gainers led losers 275 to 211, while 300 counters were unchanged, 1,371 untraded and nine others suspended.
Total volume stood at 403.91 million shares worth RM276.73 million.
Meanwhile, the ringgit opened slightly higher against the US dollar, receiving mild support following the weakening of the greenback after 10-year Treasury yields fell to a two-week low.
At 9.01am, the local unit stood at 4.1300/1350 against the US dollar from 4.1360/1390 at Thursday's close.
The US dollar had declined despite US Federal Reserve chair Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation. – Bernama, April 9, 2021
