Benchmark index likely to hover within the 1,445-1,455 range, he says.
KUALA LUMPUR: Bursa Malaysia opened lower today, taking the cue from Wall Street’s weaker performance as traders digested the US Federal Reserve comments of more rate hikes ahead of the final quarter of 2023, said an analyst.
“Although the local bourse may enter into a consolidation phase, we remain optimistic that bargain-hunting activities will prevail as foreign funds continue to diversify into the region,” he told Bernama.At 9.05am, the FBM KLCI fell 3.11 points to 1,445.10 from yesterday’s close of 1,448.21.The market breadth was negative, with decliners leading gainers 200 to 83, while 238 counters were unchanged, 1,870 untraded, and 49 suspended.Among the heavyweights, Maybank lost 3 sen to RM8.
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