Bursa Malaysia opens higher, tracking gains on Wall Street

KUALA LUMPUR, June 16 ― Bursa Malaysia opened higher today, tracking rallies on the Wall Street performance overnight after the Federal Reserve announced its largest interest rate hike to battle inflation, a dealer said.

The US central bank increased its benchmark interest rate by 75 basis points to between 1.50 per cent and 1.75 per cent at its Federal Open Market Committee meeting yesterday. Among the heavyweights, Maybank gained five sen to RM8.68, Public Bank added two sen to RM4.50, Petronas Chemicals improved eight sen to RM9.61, IHH Healthcare inched up six sen to RM6.25, and CIMB rose seven sen to RM5.03.

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