KUALA LUMPUR: Bursa Malaysia ended the morning session higher, lifted by continued buying support in heavyweights.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.13 points to 1,520.11 from Wednesday's close of 1,512.98.
The barometer index opened 3.63 points easier at 1,509.35 and subsequently moved between 1,508.50 and 1,521.23 throughout the session.
The market breadth was negative with decliners outpacing gainers 612 to 315, while 414 counters were unchanged, 883 untraded and 15 others suspended.
Turnover amounted to 2.18 billion units worth RM1.53 billion.
SPI Asset Management managing director, Stephen Innes said the local market is tagging along on the big US tech revival.
The broader market also received a boost from reports indicating of the US economy's resilience and potential easing of inflationary pressures.
"Such data could furnish the Federal Reserve (Fed) with the evidence it seeks for a slowdown in inflation before considering interest rate cuts, a sentiment echoed by the Fed chair's cautionary statements a day earlier, which is ostensibly bullish for local markets," he said. Innes said all eyes and ears are trained on non-farm payroll (NFP).
"Hence, it could be a frantic Friday on any NFP hits or misses but an extremely bullish one for the Bursa if the jobs report shows a jump higher in the unemployment rate that justifies a March cut," he told Business Times.
Malacca Securities Sdn Bhd said buying support may return within the technology sector.
"We think the market should focus on the upcoming February earnings season, coupled with the trading themes such as the potential revival of KL-SG HSR, easing requirements of the MM2H and Johor-theme. "Also, the recent large scale solar 5 (LSS5) announcement would bode well for solar companies," it added.