KUALA LUMPUR – Bursa Malaysia opened higher in line with the sharp rebound on Wall Street overnight, on the back of the United States Federal Reserve’s move to support smaller rate hikes going forward, as well as the likelihood that Bank Negara would maintain the current interest rate until end-June, a dealer said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.71 points to 1,608.81 from 1,598.10 at yesterday’s close.
The index opened 10.59 points higher at 1,608.69.
On the broader market, gainers surpassed losers 243 to 89, while 188 counters were unchanged, 1,720 untraded and 10 others suspended.
Turnover stood at 112.34 million units worth RM84.44 million.
Meanwhile, the ringgit rebounded against the US dollar this morning, buoyed by buying interest and supported by the firmer oil prices, analysts said.
At 9am, the local note stood at 4.1890/1930 versus the greenback compared with 4.1935/1955 at yesterday’s close. – Bernama, March 3, 2022
