KUALA LUMPUR: Bursa Malaysia experienced a mixed opening today, influenced by Wall Street's subdued performance during the holiday season.
As of 9:06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 2.07 points to 1,456.45 from Friday's closing at 1,454.38.
The broader market saw more decliners of 157 than gainers of 126, with 280 counters unchanged, 1,742 untraded and 15 suspended.
The turnover amounted to 200.96 million units valued at RM69.09 million.
The FBM KLCI initially opened slightly lower at 1,454.08, with cautious market sentiment.
Rakuten Trade equity research vice-president Thong Pak Leng said although Wall Street maintained a holiday mood with all three major indices closing flat, there was positive sentiment due to the November core personal consumption expenditure price index meeting expectations.
"The DJI Average dipped by 18 points while the Nasdaq added 29 points with the US 10-year yield inched higher at 3.901 per cent.
"Back home, the FBM KLCI eased marginally to below the 1,455 mark amid a lacklustre day," he said.
Thong highlighted that while there was accumulation from foreign funds, the performance of the index was constrained by continuous selling from local institutions.
"Whether the index is able to test the 1,500 level over the last 4 trading days in 2023 remains to be seen.
"Meanwhile, it is heartening to see that the ringgit has strengthened against the greenback at RM4.63 or a four-month high.
"We anticipate the benchmark index to trend within the 1,450-1,460 range for today," he said.