Benchmark index expected to hover between the 1,460 and 1,470 range today.
KUALA LUMPUR: Bursa Malaysia opened lower this morning on cautious sentiment ahead of the US Federal Reserve’s meeting on interest rates this Wednesday, said an analyst.
On Friday, the Dow Jones Industrial Average lost 289 points while the Nasdaq declined by 218 points as the US 10-year yield inched higher to 4.34%. “We believe this level should be breached anytime soon as the valuation of local blue chips remains low,” he told Bernama. At 9.15am, the FBM KLCI fell 4.49 points to 1,454.54 from Friday’s close of 1,459.03. The index opened 2.07 points lower at 1,456.96.
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