KUALA LUMPUR – Bursa Malaysia opened lower today as profit-taking began to emerge following five consecutive days of strong gains.
The market also adopted a cautious tone ahead of the announcement on the Prime Minister Datuk Seri Ismail Sabri Yaakob’s cabinet line-up today.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 8.43 points to 1,577.31 from yesterday’s close of 1,585.74.
The market bellwether opened 2.84 points weaker at 1,582.90.
Market breadth was negative with losers leading gainers 237 to 152, while 277 counters were unchanged, 1,593 untraded and 65 others suspended.
Turnover stood at 197.80 million shares worth RM98.89 million.
Meanwhile, the ringgit retreated from its four-day winning streak in early trade today, as market sentiments turned cautious ahead of the cabinet announcement, as well as mild profit-taking following recent gains, dealers said.
At 9am, the local note stood at 4.1995/2040 versus the greenback, compared with yesterday’s close of 4.1940/1965. – Bernama, August 27, 2021
