tags - Sinar Daily

(FILES) This file photo taken on March 20, 2023 shows signage outside a First Republic Bank branch in Santa Monica, California. - Photo by Patrick T. Fallon / AFP

Bursa Malaysia opened lower today due to the possibility of yet another interest rate hike by the United States (US) Federal Reserve during the next Federal Open Market Committee (FOMC) meeting in early May, said an analyst.

The ringgit continued to slide against the US dollar in the early session today as the local currency remained in an overbought position ahead of an expected rise in US interest rates in May, said an analyst.

The ringgit opened higher against a weaker US dollar on Thursday, following the release of the United States (US) inflation data, said an analyst.

Former Treasury secretary general Tan Sri Irwan Serigar Abdullah (right) arrived the the Kuala Lumpur High Court today to face criminal breach of trust charges over a RM6.6 billion case also faced by former Prime Minister Datuk Seri Najib Razak. The prosecution however, requested a postponement of the hearing, citing 'new developments'. - Pic: BERNAMA

The ministry said this is on the back of strong investors’ demand for government securities, supported by sufficient domestic market liquidity of around RM158.7 billion.

Implementation of flood mitigation projects will be expedited to reduce the impact of the disaster in the country, said Prime Minister Datuk Seri Anwar Ibrahim. - BERNAMA

Bursa Malaysia rebounded to open higher on Wednesday, taking its positive cue from Wall Street's performance overnight as traders are betting that the aftermath of the recent bank failures in the US may have been averted, said an analyst.

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