KUALA LUMPUR: Bursa Malaysia opened marginally lower today following mixed performance in the US markets overnight which were weighed down by disappointing big tech earnings.
Wall Street closed mixed on the back of a mixed bag of corporate earnings and strong labour market data as traders wait for the outcome from the Federal Open Market Committee latest meeting.
At 9.16am, the FBM KLCI had added 1.31 points to 1,514.06, from Tuesday's close at 1,512.75.
The barometer index opened 0.15 of a point easier at 1,512.60.
On the broader market, losers led gainers 216 to 192, while 289 counters were unchanged, 1,565 untraded, and 52 others suspended.
Turnover amounted to 427.43 million units worth RM131.76 million.
Tradeview Capital Sdn Bhd fund manager Neoh Jia Man said the performance of the domestic market for the day will likely remain muted pending the release of several key economic data from China and Japan, as well as rate decision by US Fee tomorrow.
"Nonetheless, Johor-linked counters might see some trading interests from the installation of the new Yang di-Pertuan Agong," he told Business Times.
Rakuten Trade equity research vice-president Thong Pak Leng said yesterday the FBM KLCI ended lower after a solid opening attributed to some profit taking activities and impacts from the sharp drop in Hong Kong equities.
"Nonetheless, we reckon this is only an intermittent correction and will not distract recent inflows of foreign funds, thus recent dips offer excellent opportunities to bargain hunt.
"For today, we believe the index to hover within the 1,510-1,520 range with interests on the Financials and Plantation counters to persist," he added.