KUALA LUMPUR: Bursa Malaysia started the trading week mixed tracking Wall Street's performance as US job data in February gave out conflicting signals.
At 9.10 am, FTSE Bursa Malaysia (FBM) KLCI was up 0.12 per cent or 1.86 points to 1,541.72 versus Friday's close of 1,539.86.
The key index opened 0.14 per cent or 2.15 points higher at 1,542.01.
The broader market however saw decliners led gainers 211 to 207 while 297 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI closed higher last week to almost the 1,540 mark underpinned by broad based accumulation of blue chips.
"However, we noticed retail participation remained lacklustre due to the lack of catalysts as the average daily traded volume dwindled back to the three billion shares range. "Nonetheless, we are hopeful that the improving liquidity amongst the blue chips may eventually spill over to the smaller caps," he said. Thong said the benchmark index is expected to hover within the 1,540-1,550 range today.
"Meanwhile, the uptrend of the crude palm oil price has been impressive and touched RM4,100 per tonne thus may continue to attract interests for the planters.
"On the global front, Wall Street fell as profit taking activities emerged following the release of February job data which gave out conflicting signals. The Dow Jones Industrial Average lost 69 points while the Nasdaq declined by 188 points. Over in Hong Kong, the Hang Seng Index added 124 points as sentiment was buoyed by strong indications of easing rates from various central bankers.