Bursa Malaysia opens lower tracking Wall Street’s decline

KUALA LUMPUR: Bursa Malaysia opened lower, taking the cue from Wall Street’s weaker performance as traders digested the US Federal Reserve (Fed) comme...

: Bursa Malaysia opened lower, 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.Among the heavyweights, Maybank lost three sen to RM8.87, Public Bank eased two sen to RM4.19, Petronas Chemicals reduced five sen to RM7.26, TNB gained four sen to RM10.10 and CIMB was flat at RM5.59.

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