The market is on positive note due to strong US employment data, says analyst.
KUALA LUMPUR: Bursa Malaysia opened higher today, taking its cue from Wall Street’s positive performance last Friday following the strong US employment data, a dealer said.
“However, it is still unclear whether the US Federal Reserve will adjust the interest rate; consensus reckons it will remain status quo,” he told Bernama. “Nonetheless, we believe recent statements by Prime Minister Anwar Ibrahim that more inflow of foreign investments may be announced soon could spur buying interests and support the local bourse.At 9.31am, the FBM KLCI rose 3.29 points to 1,420.17 from last Friday’s closing of 1,416.88.On the broader market, gainers surpassed decliners 266 to 209, while 327 counters were unchanged, 1,508 untraded and eight suspended.
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