Bursa Malaysia Lower At Opening, Tracking Wall Street Losses
By Rosemarie Khoo
KUALA LUMPUR, June 6 (Bernama) -- Bursa Malaysia opened lower today, tracking the overnight losses on Wall Street, with sentiment affected by the ongoing spat between US President Donald Trump and businessman Elon Musk.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.78 points lower at 1,515.34 from Thursday's close of 1,518.12. The benchmark index opened at 1,516.91, less 1.21 points.
Market breadth was negative, with decliners outpacing gainers 207 to 84. A total of 243 counters were unchanged, 1,812 untraded and 20 suspended.
Turnover stood at 119.92 million units valued at RM70.92 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said all eyes were on China's President Xi Jinping-Trump's phone call, which was deemed 'very good' by Trump and that a meeting between the two may be held soon.
On the flipside, the latest job data showed a slowing labour market as the US 10-year Treasury yield edged slightly higher at 4.39 per cent.
Over in Hong Kong, the Hang Seng Index continued to climb as sentiment was boosted by China's purchasing managers' index (PMI) for May that beat consensus, allaying fears of an economic slowdown.
On the home front, the FBM KLCI almost reached the 1,520 mark yesterday, possibly due to more aggressive stock accumulation by local institutions.
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