KUALA LUMPUR: Bursa Malaysia opened marginally lower before rebounding in early trade supported by foreign buying.
At 9.15am, FTSE Bursa Malaysia (FBM) KLCI rose 0.09 per cent or 1.35 points to 1,530.68 versus Wednesday's close of 1,529.33.
The key index opened 0.04 points lower at 1,529.29.On the broader market, gainers led losers 159 to 105, while 215 counters were unchanged, 1,820 untraded and 10 others suspended.
Turnover amounted to 167.66 million units worth RM54.48 million.
Malacca Securities Sdn Bhd noted the FBM KLCI turned sideways after the recent consolidation breakout.
"We believe the overall market tone is still positive and likely to head higher after the earnings season," it stated. Meanwhile, Wall Street rebounded significantly after the sharp sell down, led mainly by the technology sector.
Traders will be monitoring the retail sales and the US producer price index data that will be released over the next two days.
"Although the inflation data may spike, the market will be focusing on the ongoing earnings season to look for trading opportunities," it added.
Back home, it stated key sectors that investors should be focusing on will be the construction, property,utilities and renewable energy given the trading themes revolving around the mega infrastructure projects as well as the data centre investments in Malaysia.
"Also, we like Consumer related, specifically the poultry sector in anticipation of stronger quarterly results amid normalising costs and higher demand," it said. -end-