KUALA LUMPUR: Bursa Malaysia started the day in the green despite Wall Street’s mixed results, driven by varying corporate earnings performances.
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As of 9:14 a.m., the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up by 0.74 points to 1,632.97, slightly higher than the previous close of 1,632.23.
However, the broader market was in negative territory, with 271 decliners outpacing 177 gainers, while 335 counters remained unchanged.
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Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said regional weakness led the FBM KLCI to close lower.
“We reckon this presents a buying opportunity for bargain hunters. As the index approaches oversold levels, we expect stock accumulation on dips and foresee a rebound, with the index trending between 1,630 and 1,640 today,” he added.
-NewStraitsTime