KUALA LUMPUR – Bursa Malaysia opened the week on a higher note, extending bargain-hunting activities from Friday last week.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.32 points to 1,522.90 from Friday’s close of 1,520.58.
The market bellwether opened 1.65 points better at 1,522.23.
On the broader market, gainers marginally led losers 197 to 149, while 263 counters were unchanged, 1,608 untraded, and 10 others suspended.
Turnover eased to 240.37 million units worth RM111.88 million.
Meanwhile, the ringgit opened firmer against the US dollar, backed by rising crude oil prices amid the higher number of Covid-19 cases in Malaysia.
At 9am, the local note rose slightly by 45 basis points (bps) to open at 4.1850/1890 against the greenback from 4.1895/1940 at last Friday’s close.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the ringgit is expected to get some support from the strength in Brent crude oil price due to the drop in crude stockpiles, which reinforced views that oil demand was picking up with the start of the United States driving season. – Bernama, July 12, 2021
