Bursa boosted by Wall Street rally after better-than-expected corporate earnings

KUALA LUMPUR – Bursa Malaysia rebounded to trade higher today, with buying interest sparked by election play and Wall Street’s rally after a slew of stronger-than-expected corporate earnings.

The FTSE Bursa Malaysia KLCI ticked up 4.97 points to 1,449.38 after eight minutes of trading, compared to yesterday’s close of 1,444.41.

At 9am, the barometer index opened 3.16 points higher at 1,447.57.

The broader market was positive with gainers outpacing losers 166 to 94, while 221 counters were unchanged, 1,883 untraded and 11 others suspended.

Turnover stood at 122.23 million units valued at RM65.19 billion.

The ringgit opened marginally higher against the US dollar as lower US consumer confidence data took a toll on the greenback.

At 9am, the local currency inched up to 4.7300/7340 against the greenback from Monday’s close of 4.7350/7375. – Bernama, October 26, 2022