KUALA LUMPUR: Bursa Malaysia could be seeing some positive spillover from Wall Street markets following the release of a US producer inflation report.
The FBM KLCI opened on a cautious note, barely moved at 1,605.75 as investors stayed on the sidelines while they digested the recent developments in the US.
Overnight, the technology-heavy Nasdaq climbed 0.75% to a new record of 16,511.18 points. The Dow Jones Industrial Average gained 0.32% to 39,558.11 while the S&P500 rose 0.48% to 5,246.68.
While the US producer price index for April came in higher than anticipated by economists, Federal Reserve chair Jerome Powell described it as "mixed" as opposed to "hot", adding that he did not expect the central bank to raise rates at its next meet.
...