KUALA LUMPUR – Bursa Malaysia extended last week’s gains to open higher today, supported by continued buying demand in selected heavyweights as more investors gain confidence due to the easing political tension in the country, dealers said.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.33 points to 1,600.49 from Friday’s close of 1,590.16.
The market bellwether opened 3.03 points better at 1,593.19.
Market breadth was positive with gainers leading losers 286 to 200, while 373 counters were unchanged, 1,387 untraded and 50 others suspended.
Turnover stood at 523.04 million units worth RM210.16 million.
Meanwhile, the ringgit opened higher against the US dollar in early trade today on improved sentiment towards the currency, coupled with rising oil prices, a dealer said.
At 9.04am, the local note rose to 4.1760/1780 versus the greenback from Friday's close of 4.1890/1930.
However, the dealer said US Federal Reserve chairman Jerome Powell's speech on Friday, in which he highlighted that tapering may begin at the end of the year, could provide support for the dollar and thus exert downward pressure on the ringgit. – Bernama, August 30, 2021
