KUALA LUMPUR – Bursa Malaysia opened broadly lower today, in tandem with its regional peers as increasing Covid-19 cases weigh on sentiment.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI erased 5.66 points to 1,494.6 from yesterday’s close of 1,500.26.
The index opened 2.98 points weaker at 1,497.28.
The ringgit, too, retreated at the open today, as Brent crude oil prices slide.
At 9.06am, the local note stood at 4.2260/2290 versus the United States dollar from 4.2185/2215 at the close yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim told Bernama that the weakness in Brent overnight is due to the spread of the Delta variant in China that threatens to disrupt the recovery in global crude consumption.
“In addition, investors might have also factored in the latest political developments in the country.” – Bernama, August 4, 2021
