Bursa, ringgit open lower as geopolitical tensions remain

KUALA LUMPUR – Bursa Malaysia opened lower today, weighed down by market sentiment as investors stayed cautious prior to the US-China call to discuss the conflict between Ukraine and Russia.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI was 3.59 points weaker at 1,587.67 from 1,591.26 at Friday’s close.

The market bellwether opened 3.19 points easier at 1,588.07.

On the broader market, gainers inched past losers 223 to 146, while 204 counters were unchanged, 1,733 untraded, and 28 others suspended.

Total turnover stood at 201.30 million worth RM111.68 million.

The ringgit opened lower against the US dollar today despite the firmer oil prices as the Russia-Ukraine conflict caused a meteoric rise in oil and other commodity prices, said an analyst.

At 9.00am, the local currency declined further to 4.1960/1990 versus the greenback from 4.1930/1975 at Friday’s close.

At the time of writing, Brent crude was trading 1.82% better at US$110.05 per barrel. – Bernama, March 21, 2022