Bursa Malaysia falls early as US Fed rate jitters impact market sentiment

How does Malaysia plan to address mismatch between graduates and jobs? HR minister says first step is a wage benchmarkAt 9.10am, the FTSE Bursa Malaysia KLCI fell 2.38 points to 1,601.66, compared with yesterday’s close of 1,604.04. — Picture by Zuraneeza ZulkifliKUALA LUMPUR, Nov 19 — Bursa Malaysia’s key index opened lower today, tracking Wall Street’s mixed overnight performance, as sentiment remained cautious over the US Federal Reserve’s interest rate trajectory.

The broader market showed mixed sentiment, with 200 gainers outpacing 109 losers, while 253 counters were unchanged, 1,904 untraded, and 14 suspended.Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that recent comments by Fed chair Jerome Powell indicated no urgency in adjusting interest rates, citing a robust economy and strong labour market.

Thong added that the FBM KLCI managed an impressive rebound despite remaining on a challenging recovery path. Maybank and CIMB both slid 6.0 sen to RM10.28 and RM8.15, respectively, while IHH Healthcare was unchanged at RM7.22.

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