KUALA LUMPUR: Bursa Malaysia opened marginally higher on Friday tracking Wall Street's upbeat performance supported by strong buying on tech stocks.
At 9.30am, FTSE Bursa Malaysia (FBM) KLCI rose 0.03 per cent or 0.44 points to 1,443.29 versus Thursday's closing of 1,442.85.
The key index opened 0.08 per cent or 1.12 points higher at 1,443.97.
The index board is also positive with FBM100 and FBM Emas adding 0.07 per cent to 10,298.27 and 10,626.68 points respectively while FBM Ace gained 0.47 per cent to 5,088.50.
The broader market saw gainers surpassed decliners 218 to 196 and 302 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said that although the FBM KLCI fell to below its 1,445 support level, the benchmark index is near oversold level.
"Hence we reckon bargain hunting may occur. Despite this, investors are advised to stay vigilant due to the rising global volatility and uncertainties. "We anticipate that the FBM KLCI will trend higher within the range of 1,440-1,450 for today," said Thong.
On the global front, the Dow Jones Industrial Index gained 63 points or 0.17 per cent while Nasdaq surged 193 points or 1.37 per cent.
In Asia, Thogn noted major indices ended lower following lower than expected China's export figures.
"Meanwhile Moody's issued downgrade warnings for Hong Kong, Macau, and large portions of China's state-owned companies and banks.
As a result, the Hang Seng Index dived 117 points of 0.7 per cent."