US Feds no rate hike a boost for local market
The US Federal Reserve’s decision to maintain interest rates amid cooling inflation boosted buying interest on Bursa Malaysia at midday trade. The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.19 points to 1,613.14, with gainers outpacing decliners 644 to 421.
The turnover was 3.24 billion units worth RM2.09 billion. Regional equities markets, including Hong Kong and Singapore, showed renewed optimism following a softer US consumer price index. However, Japan’s Nikkei Index declined ahead of its central bank policy decision. Key Malaysian heavyweights like Tenaga Nasional and YTL Power saw gains, contributing to the overall positive market sentiment.
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