KUALA LUMPUR (Sept 23): Bursa Malaysia opened marginally lower on Friday (Sept 23), tracking Wall Street which slipped for the third consecutive trading day as central banks’ rate hikes continued to weigh on sentiment. At 9.03am, the FBM KLCI had inched down 0.96 of a point to 1,438.20 from Thursday's close at 1,439.16. Meanwhile, investors may watch for Malaysia’s inflation rate to gauge the upcoming overnight policy rate outlook by Bank Negara Malaysia," it said. “We remain positive on the banking sector on the back of the interest rate upcycle environment, while the telecommunications, solar-related, construction and building material-related sectors are expected to see some buying interest ahead of Budget 2023. Among the heavyweights, Public Bank Bhd shed one sen to RM4.38, Petronas Chemicals Group Bhd declined four sen to RM8.46 and IHH Healthcare Bhd slid five sen to RM5.95.
