3 days ago
- Business
- New Straits Times
Bursa opens higher tracking Wall Street rally after softer US inflation
KUALA LUMPUR: Bursa Malaysia opened higher today, mirroring Wall Street's overnight rally after the latest US consumer price index figure came in slightly below expectations, thus paving the way for a possible Federal Reserve rate cut next month.
The US recorded a softer inflation rate of 2.7 per cent in July, below consensus estimates for headline CPI at 2.8 per cent and core CPI at 3.0 per cent for July.
At 9.17am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.30 points, or 0.15 per cent, to 1,570.20 from yesterday's close of 1,567.90.
The benchmark index had earlier opened 1.17 points firmer at 1,569.07.
Market breadth was positive, with advancers leading gainers 286 to 107. A total of 269 counters were unchanged, 1,860 untraded and 18 suspended.
Turnover stood at 298.39 million shares worth RM112.24 million.
