KUALA LUMPUR: Bursa Malaysia opened marginally higher today after Wall Street closed flat last night, amid a choppy session ahead of March consumer price index (CPI) and job data out this Wednesday and Thursday.
At 9.45am, the FBM KLCI rose 4.27 points to 1,564.25, from Monday's close at 1,559.98. It opened 0.07 point lower at 1,559.91.
On the broader market, gainers advanced decliners 225 to 185, while 321 counters were unchanged, 1,612 untraded, and nine others suspended.
Turnover amounted to 273.51 million units worth RM112.69 million.
Malacca Securities Bhd head of research Loui Low said the market could be taking profits ahead of the two-day break hence staying aside for now.
"We are still expecting the utility counter to head higher for the session. We expect the market to range bound and trade along 1550-1570," he told Business Times.
Loui also expects investors to closely monitor US economic indicators and are swift to capitalise on any profits amidst indications of foreign capital outflows in the interim.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI maintained its uptrend to close at a year-to-date high of almost 1,560 levels.
"Nonetheless, we believe the index may be under some pressure today as the local bourse will be closed over the next 2 days for Hari Raya festivities thus expect the index to hover within the 1,555-1,565 range," he said.
Meanwhile, gold ended at another record high underpinned by strong buying from both China and India, he added.