KUALA LUMPUR – Bursa Malaysia resumed on a low note today after the long Malaysia Day weekend, as investors remained cautious following further losses on Wall Street on Friday due to persistent concerns over the US Federal Reserve’s rate hike, a dealer said.
At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI fell by 14.50 points to 1,452.81 from Thursday’s close of 1,467.31.
The benchmark index opened 7.80 points lower at 1,459.51.
On the broader market, losers outpaced gainers 347 to 102, while 256 counters were unchanged, 1,668 untraded and 17 others suspended.
Turnover stood at 250.12 million units worth RM178.96 million.
The ringgit continued its downtrend on Monday due to the lack of catalysts amidst growing risk-off sentiment, said an analyst.
At 9am, the local currency slipped to 4.5350/5405 against the greenback from 4.5340/5365 at Thursday’s close.
The market was closed last Friday in conjunction with the Malaysia Day 2022 celebration.
In a note, Kenanga Research said investors are keeping a close watch on the crucial US Federal Reserve monetary policy meeting later this week, where the Federal Open Market Committee is expected to continue its rate hike momentum. – Bernama, September 19, 2022
