KUALA LUMPUR: There is little to build confidence in the markets today.
Hawkish comments from the US Federal Reserve (Fed) that signal a possible rate hike have put market sentiments at a low ebb on both the forex and stock markets at the start of the day.
The ringgit began the day at 4.6435/4.6470 versus the greenback with no change from yesterday when it closed at 4.6430/4.6470.
Another day of decline on Wall Street also took the fire out of Bursa this morning.
The FTSE Bursa Malaysia KLCI (FBM KLCI) managed to turn the corner yesterday but reversed course to start the day at 1,392.12 points, just 1.33 points lower than yesterday’s close of 1,393.45.
However, it quickly stemmed the decline in early trading to settle at 1,392.81 points five minutes after opening.