KUALA LUMPUR – Bursa Malaysia opened broadly lower this morning due to a lack of positive catalysts.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI declined 11.69 points to 1,518.46 from the close of 1,530.15 yesterday.
The market bellwether opened 4.25 points lower at 1,525.9.
At 9.30am today, there were 127 gainers, 524 losers and 279 counters traded unchanged on Bursa Malaysia.
On the broader market, losers led gainers 482 to 61, while 196 counters were unchanged, 1,449 untraded and 10 others suspended.
Turnover was at 1.040 billion shares valued at RM499.711 million.
The ringgit also opened weaker against the US dollar today, as market participants took note of the political and Covid-19 situation in Malaysia, said a dealer.
At 9am, the local note fell by 95 basis points to open at 4.1700/1750 against the greenback from 4.1605/1625 at the close yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the sentiment towards the ringgit is mainly influenced by the outcome of the Umno Supreme Council meeting, where the party decided to withdraw its support for the Perikatan Nasional government headed by Prime Minister Tan Sri Muhyiddin Yassin. – Bernama, July 8, 2021
