KUALA LUMPUR: Bursa Malaysia opened slightly higher tracking the rally on Wall Street fueled by recent remarks from the US Federal Reserve (Fed) on interest rates.
At 9.15am, FTSE Bursa Malaysia (FBM) KLCI was 0.14 per cent or 2.05 points higher at 1,467.72 versus Tuesday's closing of 1,465.67.
The key index opened 0.05 per cent or 0.76 points at 1,466.43.
The broader market was positive with gainers surpassing decliners 239 to 190 while 339 counters remain unchanged.
Rakuten Trade Sdn Bhd research head Kenny Yee said the FBM KLCI maintained its steady progress to end on a flat note on Tuesday, supported by mild accumulation of stocks.
"For today, we expect the index to hover within the 1,460-1,470 range with interest returning to the banks and plantation stocks.
"As mentioned, the 1,465 mark seems to be a tough resistance and if not broken decisively soon, we can expect the index to retrace below the 1,460 level again," he added.
On the global market, the Dow Jones Industrial Average rose 252 points while the Nasdaq added 98 points with the US 10-year yield easing slightly to 3.931 per cent.
In Hong Kong, the situation is less rosy as the Hang Seng Index declined by 124 points with traders remaining unconvinced of a recovery within China's property sector.
"In addition, the recent earthquake in Gansu further weakened the companies based there," added Yee.