KUALA LUMPUR: Bursa Malaysia and the ringgit kept the momentum from last week’s positive run going to start the new week with marginal gains.
The FBM KLCI began the day slightly lower at 1,494.81 points, which was 0.22 of a point down from last Friday’s close of 1,495.03 points.
However, it rebounded quickly and by 9.25am, had already risen 0.75 of a point to 1,495.78, thanks to mild buying interest in selected heavyweights in line with the positive momentum in regional markets, analysts said.
The ringgit continued its positive momentum this morning to open slightly higher against the greenback on the expectation of a US Federal Reserve (Fed) downshift to a 25 basis points interest rate hike.
At 9am, the ringgit stood at 4.3305/4.3350 against the greenback from last Friday’s close of 4.3325/4.3375.