KUALA LUMPUR – Bursa Malaysia opened lower today on risk-averse mode, taking its cue from Wall Street’s sharp drop on Friday, a dealer said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI fell by 16.29 points to 1,484.0 from last Friday’s closing of 1,500.29.
The benchmark index opened 13.77 points lower at 1,486.52.
On the broader market, losers surpassed gainers 494 to 47, while 152 counters were unchanged, 1,666 untraded and 81 others suspended.
Turnover stood at 200.45 million units worth RM105.12 million.
The ringgit opened lower against the US dollar today due to the lack of buying interest, said a dealer.
At 9.18 am, the local currency stood at 4.4795/4835 against the greenback from Friday’s close of 4.4655/4675.
In a note, Kenanga Research said the local unit may struggle to maintain its upward momentum against the greenback following the US Federal Reserve’s reiteration of its hawkish stance during the Jackson Hole symposium last Friday. – Bernama, August 29, 2022
