KUALA LUMPUR: Bursa Malaysia opened mixed today before the FTSE Bursa Malaysia KLCI (FBM KLCI) inching upwards as a rally in the US markets helped boost buying interest.
It was another positive day on Wall Street as the US 10-year yield tumbled to below the 4.0 per cent level at 3.921 per cent for the first time since August, buoyed by the recent dovish statement from the Federal Reserve on interest rates.
At 9.05 am, the FBM KLCI advanced 0.48 of-a-point to 1,456.74 versus yesterday's close of 1,456.26.
The FBM KLCI opened 0.31 points weaker at 1,455.95.
On the broader market, gainers outpaced losers 164 to 96, while 261 counters were unchanged.
Turnover amounted to 148.28 million units worth RM60.15 million.
Tradeview Capital fund manager Neoh Jia Man said the energy sector received a boost from stronger oil prices.
"However, we think profit-taking activities may constrain short-term upside, while market sentiment could be influenced by the upcoming release of Chinese industrial production and retail sales data today," he told Business Times. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI rebounded to surge past the 1,450 mark yesterday underpinned by broad-based buying."We believe buying activities will persist and expect the index to hover within the 1,455-1,465 range today, taking advantage of the attractive valuation of the domestic market," said Thong.