FBM KLCI opens cautiously ahead of US interest rate decision, investors show restraint.

From Google: 2024-09-12 22:07:32

The FBM KLCI opened cautiously ahead of the US interest rate decision, with investors showing restraint. This comes after a rise of 3.45 points to 1,635.36 yesterday. The trading volume stood at 1.27 billion shares worth RM902.56 million, leading to 432 gainers and 205 losers by mid-morning.

Investors are closely watching the US Federal Reserve’s decision on interest rates, expecting a dovish approach. Asian markets are also waiting for the outcome, with the FBM KLCI experiencing a 1.4% decline over the past week. Bank stocks are among the sectors affected by uncertainty, with Public Bank and Maybank leading the decline.

The cautious sentiment is also reflected in oil markets, with Brent crude falling slightly to $71.33 per barrel. Meanwhile, the ringgit is trading at 4.1295 against the US dollar. Investors are advised to exercise caution and monitor global developments closely for potential impact on market trends.



Read more at Google: FBM KLCI subdued at opening on caution ahead of us interest rate decision – The Malaysian Reserve