KUALA LUMPUR – Bursa Malaysia opened lower today, in line with the weaker performance on Wall Street overnight.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI eased 6.72 points, or 0.44%, to 1,523.72 from yesterday’s close of 1,530.44.
It opened 5.81 points lower at 1,524.63.
Market breadth was negative, with losers outpacing gainers 268 to 168, while 266 counters were unchanged, 1,570 untraded and five suspended.
The ringgit, too, was lower against the United States dollar at the opening bell due to the possibility that the US Federal Reserve will taper its bond purchases, and the highly probable debt default by China’s largest property players.
At 9am, the local note fell to 4.1870/1910 against the greenback from 4.1835/1850 at the close yesterday.
Bank Islam chief economist Mohd Afzanizam Abdul Rashid said the heightened uncertainties have led to a surge in interest in safe-haven currencies. – Bernama, September 22, 2021
