KUALA LUMPUR, March 23 — Bursa Malaysia opened on a low note today, taking its cue from Wall Street’s weaker performance overnight. At 9.25am, the benchmark FBM KLCI eased...
KUALA LUMPUR, March 23 — Bursa Malaysia opened on a low note today, taking its cue from Wall Street’s weaker performance overnight.
In the broader market, decliners outpaced gainers 242 to 153, while 254 counters were unchanged, 1,624 untraded and seven others suspended.In a note today, Malacca Securities Sdn Bhd expects the negative sentiment due to the weaker Wall Street performance to spill over to the regional benchmark indices and local bourse, following the interest rate hike by the United States Federal Reserve and the “blanket insurance” statement on depositors from US Treasury secretary Janet Yellen.
“Investors may brace for more volatility and are likely to choose to increase their exposure in the defensive sectors such as consumer, telco and utilities,” added the brokerage. Among the actives, Niche Capital inched up half-a-sen to 16 sen, and both Hong Seng Consolidated and Jade Marvel were flat at 13.5 sen and 31 sen, respectively, while Zen Tech dwindled half-a-sen to 2.5 sen and AirAsia X trimmed three sen to RM1.44.
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