KUALA LUMPUR – Bursa Malaysia snapped its gains yesterday to open lower in early trade as investors remained cautious amid mixed trading activities on Wall Street and regional markets overnight, a dealer said.
At 9.10am, the FTSE Bursa Malaysia KLCI fell 7.88 points to 1,473.40 from yesterday’s close of 1,481.28.
The benchmark index opened 0.40 points lower at 1,480.88.
On the broader market, losers outnumbered gainers 181 to 117, while 211 counters were unchanged, 1,770 untraded and nine others suspended.
The ringgit opened flat against the US dollar today as investors opted for a wait-and-see attitude on the latest economic assessment by the US Federal Open Market Committee (FOMC) meeting, an analyst said.
At 9am, the local currency stood at 4.4190/4225 versus the greenback from yesterday’s close of 4.4190/4220.
US FOMC members will deliberate on their decision at their two-day meeting beginning yesterday.
Bank Islam chief economist Mohd Afzanizam Abdul Rashid said the markets appear to be expecting 75 basis points hike in the federal funds rate in the latest FOMC meeting which will be announced tonight. – Bernama, June 15, 2022
