KUALA LUMPUR – Bursa Malaysia opened slightly higher today in line with regional peers that extended yesterday’s rally as investors viewed the latest weak US jobs report positively.
The data stoked the view that the Federal Reserve would delay paring its stimulus measures and this has helped markets, dealers said.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 1.87 points to 1,583.46 from yesterday’s close of 1,581.59.
It opened 0.16 of-a-point better at 1,581.75.
Market breadth was positive with gainers leading losers 260 to 129, while 326 counters were unchanged, 1,512 untraded and 25 others suspended.
Turnover stood at 278.93 million units worth RM109.51 million.
Meanwhile, the ringgit opened moderately higher against the US dollar today in line with the crude oil price that moved into positive territory.
However, as for the broader outlook, cautious mode still clouded investors’ sentiment after Saudi Arabia cut crude contract prices for Asia, coupled with the US Federal Reserve’s upcoming announcement on its tapering of asset purchases.
Meanwhile, back home, Bank Negara Malaysia is scheduled to hold its fifth monetary policy meeting this Thursday.
At 9.03am today, the local note inched up to 4.1445/1485 from 4.1465/1490 at yesterday’s close. – Bernama, September 7, 2021
