The mixed performance on Wall Street last week left investors on the local stock exchange a little more cautious than usual, making the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) beat a path of retreat.
The index had earlier opened at 1,474.72 points, just a breath higher than last Friday’s close of 1,474.59 points.
But it quickly retreated to lose a total of 2.73 points to settle at 1,471.86 points at 9.15am.
The ringgit’s performance was equally uninspiring as fears of more interest rate increase by the US Federal Reserve pushed investors to the sidelines.
The local note began the day at 4.3350/4.3395 against the greenback, down from last Friday’s close of 4.3320/4.3350.
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