KUALA LUMPUR: Bursa Malaysia closed midday mixed, with the FBMKLCI closing in positive territory while the broader market saw losers lead gainers.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.43 to 1,440.63 from Monday's closing of 1,439.2.
The key index, initially opened slightly lower at 1,438.75, fluctuating within the range of 1,437.98 to 1,440.97 throughout the session.
On the broader market, losers outnumbered gainers 363 to 336, while 414 counters were unchanged.
In a note today, Malacca Securities Research said the US stock markets have gained strongly after a solid start for the corporate earnings and bargain hunting activities emerged.
The firm added that given that the 10-year US Treasury yield was below the five per cent mark, the overall buying support on the equities remains strong. Malacca Securities however expects the traders to turn cautious nearer to the two-day Federal Open Market Committee (FOMC) meeting.
"Given the strong rebound on Wall Street, we expect buying support to spillover towards the local exchange within the technology stocks. "Also, we believe the strong earnings from McDonald's could give rise towards buying support within the consumer sector at least for the near term. "Besides, we think poultry-related stocks will get a boost once the details on the floating price are announced," it said.