KUALA LUMPUR: Bursa Malaysia and the ringgit got off to a positive start, but the stock market quickly lost its appeal as investors retreated.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened at 1,482.08, adding 0.28 of a point to last Friday’s close of 1,481.80.
Just 25 minutes into the day’s trading session, it tumbled to 1,473.28, which was 8.52 points off last Friday’s mark.
Meanwhile, the dovish mood at the US Federal Reserve, coupled with an increasing appetite for risks, gave the ringgit a boost.
Six minutes into the day’s trading and it had risen to 4.3750/4.3830 against the US dollar from last Friday’s close of 4.3835/4.3925.