KUALA LUMPUR: Traders on Bursa Malaysia kept a watchful eye for more developments in the US tariffs saga, which also digesting Bank Negara's decision to lower the overnight policy rate at its policy meeting yesterday.
Malaysia's benchmark FBM KLCI opened 2.19 points higher at 1,531.43 on Thursday, as the market remained gripped in tight range-bound trading given the lack of clarity over the global trading outlook.
However, Bank Negara's monetary easing could serve as a positive catalyst for equities prices moving forward.
"The recent easing of the OPR by the central bank is expected to inject liquidity into the domestic market, which may help revive buying interest and support a potential rebound in the local benchmark index," said TA Securities in its market commentary.
Rakiten Trade was also positive over the move, saying the cut will marginally lower the ringgit, which may negate the 25% trade tariff by the US.
"Also, within a low interest regime Banks may actually
benefit from improved loans activities," it said in a note.
Gainers on the market included F&N rising 34 sen to RM29.20, YTL Power climbing 11 sen to RM4.31 and Gamuda jumping seven sne to RM5.04.
QL Resources added five sen to RM4.61 while Sunway Construction rose five sen to RM5.94.
