KUALA LUMPUR – Bursa Malaysia opened lower in line with weaker Wall Street performance overnight.
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.93 points or 0.32% to 1,522.96 from yesterday’s close of 1,527.89.
It opened 3.18 points weaker at 1,524.71.
Market breadth was negative with losers outpacing gainers 447 to 63, while 240 counters were unchanged, 1,522 untraded and five others suspended.
The ringgit opened slightly higher against the US dollar today despite the increasing risk-off mode, which has become prevalent ahead of the United States Federal Reserve (Fed) meeting that begins today.
At 9am, the local note climbed to 4.1885/1925 from 4.1905/1950 at yesterday’s close.
Bank Islam chief economist Mohd Afzanizam Abdul Rashid said the possibility of the tapering of asset purchases by the US Fed this week may also raise the appeal of the greenback and hence is likely to weaken the ringgit. – Bernama, September 21, 2021
