KUALA LUMPUR – Bursa Malaysia opened lower on the last trading day for the week amid continued Covid-19 jitters and weaker overnight Wall Steet.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was slightly lower by 0.28 of-a-point to 1,607.45, with gains in glove stocks limiting the downtrend.
The market bellwether opened 0.45 of-a-point lower at 1,607.28.
Overall market breadth was slightly negative with losers edging past gainers at 232 to 222, while 344 counters were unchanged, 1,395 untraded and 17 others suspended.
Total volume stood at 578.44 million shares worth RM340.86 million.
Meanwhile, the ringgit opened slightly lower against the US dollar this morning amidst mixed indicators of a stronger greenback, lower US Treasury yields and stabilising oil prices, a dealer said.
At 9am, the local unit stood at 4.1130/1170 versus the greenback from yesterday’s close of 4.1105/1145.
Axi chief global markets strategist Stephen Innes said the stronger dollar had negatively influenced the sentiment for the local currency, however, a further decline was offset by the lower Treasury yields and better oil prices.
“Additionally, the foreign exchange market seems to be moving past Covid-19 worries, as even Indian rupee had rallied,” he added. – Bernama, April 23, 2021
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