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KUALA LUMPUR – Bursa Malaysia opened marginally lower this morning, indicating that selling pressure is easing up, analysts said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI was 0.55 of-a-point weaker at 1,586.61 from 1,587.16 at Monday’s close.
The barometer index opened 1.63 points easier at 1,585.53.
On the broader market, losers inched past gainers 158 to 121, while 205 counters were unchanged, 1,829 untraded and 24 others suspended.
Total turnover stood at 152.12 million worth RM185.15 million.
The ringgit opened marginally lower against the greenback today on worries over the US rate hike campaign to stabilise inflationary pressures, an analyst said.
At 9am, the local currency declined to 4.2100/2130 versus the greenback from 4.2025/2060 at yesterday’s close.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose 0.27% to 98.49 points as the US Federal Reserve chairman Jerome Powell maintained a hawkish stance during his address to the National Association of Business Economics. – Bernama, March 22, 2022