Bursa slightly down ahead of April inflation report

Bursa slightly down ahead of April inflation report FMTNews FMTBusiness

KUALA LUMPUR: All eyes will be on Malaysia’s inflation rate today, said Malacca Securities Sdn Bhd in a note today.

“We believe bargain hunting activities may emerge on the local bourse as the US economy showed no signs of recession following the release of higher-than-expected gross domestic product data for the first quarter of 2023,” it said. Bursa Malaysia opened slightly higher but retreated thereafter on continued selling among its heavyweights amid mixed sentiments on the Asian market.

As for the active counters, YTL Corporation rose 2.5 sen to 80.5 sen, Revenue Group went up 1 sen to 27.5 sen and YTL Power International added 7 sen to RM1.22, while Vinvest Capital and Velesto Energy eased 0.5 sen each to 6.5 sen and 22.0 sen, respectively.

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