KUALA LUMPUR: The FBM KLCI started second-quarter trading on a positive note, bolstered by reassurances from the US Federal Reserve the inflation rate is moderating as expected.
At Monday's open, the benchmark index was up 1.43 points to 1,537.50, tracking optimistic Wall Street futures following last Friday's release of the US Personal Consumption Expenditure price index.
Global markets were relieved when Fed chair Jerome Powell said in remarks following the release of the PCE print that it was "pretty much in line with expectations" and the central bank was not surprised by the data.
Rising blue chips on Bursa Malaysia included Telekom Malaysia up seven sen to RM5.05, PETRONAS Chemicals gaining four sen to RM6.75, Genting adding three sen to RM4.73 and CIMB putting on three sen to RM6.67.
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