Bursa Malaysia retreats in early trade from two-month high

KUALA LUMPUR – Bursa Malaysia’s barometer index retreated from its two-month high today as profit-taking activities emerged.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI fell 3.96 points to 1,476.15 from yesterday’s closing of 1,480.11.

The market bellwether opened 3.84 points lower at 1,476.27.

Market breadth was weak with losers outpacing gainers 149 to 121, while 200 counters were unchanged, 951 untraded, and 25 others suspended.

Turnover amounted to 182 million units worth RM38.7 million.

Meanwhile, the ringgit traded marginally lower against the US dollar at the opening today following an uptick in geopolitical concerns around China’s border reopening and Russia’s new oil ban, said an analyst.

At 9.13am, the local note eased to 4.4250/4295 against the US dollar from 4.4230/4275 at yesterday’s close. – Bernama, December 29, 2022