KUALA LUMPUR: Bursa Malaysia opened mixed with the FTSE Bursa Malaysia KLCI opening marginally higher, after Wall Street continued on an uptrend last night.
At 9.36 am, however the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 1.31 points to 1,511.05 from Thursday's close of 1,512.36.
The barometer index opened 1.46 points higher at 1,513.82.
On the broader market, losers and gainers stood at 256 to 235, while 294 counters were unchanged.
Tradeview Capital fund manager Neoh Jia Man said oil and gas-related stocks are expected to garner attention today, buoyed by the mini rally in oil prices. "However, trading activity on the local exchange is anticipated to be subdued due to the Lunar New Year festive season," he told Business Times.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said yesterday the FBM KLCI continued with its consolidation as it ended flat due to some profit taking ahead of the extended Chinese New Year break next week.
"Nonetheless, we noticed foreign buying remains rather apparent hence believe the local bourse is well supported at current levels. "For today, we expect the index to hover within the 1,510-1,520 range," he added.