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KUALA LUMPUR – Bargain hunters are expected to focus on banking, telco and healthcare counters following the recent heavy selling, subsequently boosting the benchmark index which opened lower today, a dealer said.
At 9.23am, the benchmark FTSE Bursa Malaysia KLCI lost 8.14 points to 1,496.30 from 1,504.44 at Friday’s close.
The benchmark index opened 2.83 points easier at 1,501.61.
On the broader market, losers thumped gainers 323 to 137, while 249 counters were unchanged, 1,619 untraded and 17 others suspended.
Turnover stood at 248.13 million units worth RM143.43 million.
The ringgit opened lower against the US dollar today, extending its losses last week as more investors shift their focus toward the safe haven currency on the possibility of another rate hike by the US Federal Reserve, dealers said.
At 9.15am, the local currency stood at 4.4830/4860 against the greenback from Friday’s close of 4.4760/4795. – Bernama, August 22, 2022