KUALA LUMPUR – Bursa Malaysia rebounded to start on a higher note today, climbing slightly above the 1,440 mark on improved buying interest in selected heavyweights led by plantation stocks, a dealer said.
At 9.06am, the FTSE Bursa Malaysia KLCI widened 9.01 points to 1,440.11 from yesterday’s close of 1,431.10.
The benchmark index opened 3.40 points steadier at 1,434.50.
Market breadth was positive with gainers leading losers 137 to 96, while 184 counters were unchanged, 1,849 untraded and nine others suspended.
Turnover stood at 144.93 million units worth RM60.99 million.
Meanwhile, the ringgit opened marginally higher against the US dollar today on renewed buying interest amid slightly easing demand for the greenback due to softer US Treasury yields, said an analyst.
At 9.03am, the local currency rose to 4.4030/4070 against the greenback from yesterday’s close of 4.4050/4065.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the yields on the two-year and 10-year US Treasury fell by 14 and 12 basis points to close at 3.06% and 3.16%, respectively, and should offer the beleaguered ringgit some relief today.
“The benchmark equities were also down, signalling that investors have shifted towards the risk-free assets,” he told Bernama. – Bernama, June 23, 2022
