BURSA Malaysia had a tough start today as early general election calls are growing stronger, leading to further sell down in the local market.
As at 9.05am, the benchmark index TSE Bursa Malaysia KLCI (FBM KLCI) dropped 7.31 points to 1,487.89 after opening 0.89 of-a-point lower at 1,493.31.
Losers overtook gainers 320 to 102, while 273 counters were unchanged, 1454 untraded and 80 others suspended.
Total volume stood at 388.31 million worth RM150.01 mil.
Energy emerged as the biggest laggard as it declined 1.34% to 655.74 points as the benchmark Brent crude slipped to below US$40 per barrel.
The market was closed yesterday for the Maulidul Rasul celebration.
Meanwhile, the ringgit opened lower against the US dollar today on lack of demand, as the stronger greenback mitigated interest for the local currency, said a dealer.
At 9.05am, the local currency was traded at 4.1570/1630 versus the US dollar compared with Wednesday’s close of 4.1520/1570. – Oct 30, 2020
