Bursa opens a fraction lower as global inflation fears mount

TheStar Mon, Feb 27, 2023 09:20am - 1 year View Original


KUALA LUMPUR: Taking its cue from Wall Street's performance last Friday, Bursa Malaysia started the week on a weak footing as growing inflation fears once again sapped sentiment in global equities.

At the opening bell, the FBM KLCI was 0.76 points lower at 1,456.04.

However, the downside on the local market is expected to be limited following the tabling of Budget 2023 as investors look for opportunities in sectors that could benefit from the announced allocations.

According to Malacca Securities Research, these sectors could include the consumer sector as the revised Budget addresses the high cost of living, as well as the renewable energy sector, which was also in focus.

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