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Bursa mixed as local benchmark opens lower

Meanwhile, ringgit slips against greenback but holds 4.12-point level

Updated 5 years ago · Published on 16 Apr 2021 9:45AM

Bursa mixed as local benchmark opens lower — he benchmark FBM KLCI dropped to 1,604.36 in early trade, but profit-taking drove up the broader market.– Bursa Malaysia Twitter pic, April 16, 2021

KUALA LUMPUR – Bursa Malaysia reversed yesterday’s mixed performance, with its key index falling in early trade today despite a positive broader market as profit-taking emerged ahead of the weekend, dealers said.

At 9.04am, the benchmark FBM KLCI shed 3.89 points to 1,604.36 from yesterday’s close of 1,608.25.

The index opened 0.81 points weaker at 1,607.44.

The ringgit slipped but managed to hold at the 4.12-point level against the US dollar at the opening, as demand for the local currency was hampered due to a spike in Covid-19 cases.

Malaysia reported 2,148 cases new Covid-19 cases on Thursday. The last time the country passed the 2,000-mark was on March 5, with 2,154 cases.

At 9am, the local note shed 50 basis points to 4.1280/1330 against the greenback from 4.1230/1260 at Thursday's close. – Bernama, April 16, 2021