KUALA LUMPUR, March 23 — Bursa Malaysia ended the morning trading session lower following a slump in Wall Street’s performance overnight after the US Federal Reserve raised interest rates by 25 basis points and hinted that further rate hikes are still on the cards.
The market bellwether, which opened 5.07 points easier at 1,406.97, moved between 1,403.55 and 1,408.90 throughout the session. “Therefore, we anticipate the index to trend within the 1,405-1,420 range today with interest returning to the oil and gas stocks underpinned by improving crude oil prices as Brent crude edged closer to US$77 per barrel,” he added.
Back home, among Bursa Malaysia heavyweights, CelcomDigi went up two sen to RM4.28, Press Metal was flat at RM4.70, Maybank dipped nine sen to RM8.46, Public Bank slipped seven sen to RM3.93 and CIMB was four sen easier at RM5.16.