KUALA LUMPUR – Bursa Malaysia extended its weakness in early trade today on concerns about a stricter lockdown to contain the spread of Covid-19.
At 9.11am, benchmark index FTSE Bursa Malaysia KLCI eased 4.48 points to 1,570.84 from yesterday’s close of 1,575.32.
The index opened 5.89 points easier at 1,569.43.
On the broader market, losers outpaced gainers 363 to 187, while 281 counters were unchanged, 1,381 untraded and 18 suspended.
The ringgit, meanwhile, opened higher against the United States dollar, buoyed by the rise in oil prices.
At 9am, the local currency traded at 4.1390/1420 against the greenback from 4.1445/1475 at yesterday’s close.
ActivTrades trader Dyogenes Rodrigues Diniz said the market is waiting for the US’ existing home sales report, which is a strong indicator of overall economic well-being, due later today.
“A higher-than-expected reading is possibly positive for the dollar, and could be the ignition for an extended rally against the ringgit in the next few weeks.” – Bernama, May 21, 2021
