KUALA LUMPUR – Bursa Malaysia opened lower today on lack of buying interest, despite Wall Street’s steadier overnight performance.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.76 of-a-point to 1,569.37 from yesterday’s close of 1,570.13.
It opened 0.58 of-a-point lower at 1,569.55.
Meanwhile, the ringgit rebounded from yesterday’s dip to open firmer today after the signing of the Memorandum of Understanding (MoU) on Political Stability and Transformation by Prime Minister Datuk Seri Ismail Sabri Yaakob and heads of the Pakatan Harapan component parties yesterday.
The ringgit’s upbeat performance was also fuelled by stronger crude oil prices after the Organisation of the Petroleum Exporting Countries (Opec) forecasted demand for the commodity to be strong following rising fuel consumption and output disruptions in the United States.
At 9am, the local unit was firmer at 4.1450/1500 against the greenback from 4.1490/1515 at yesterday’s close. – Bernama, September 14, 2021
