KUALA LUMPUR: Friday saw a higher opening for Bursa Malaysia, which was attributed to widespread buying in line with the regional recovery.
At 9.23am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.78 points higher to 1,549.54 from Thursday's close of 1,544.76.
In the wider market, there were 214 stocks that gained, 203 that lost, and 294 that remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the overall market sentiment remains jittery and there is a bias that investors may eventually go "Cash is King".
"For today, we expect the index to hover within the 1,540-1,550 range," he added.
Thong said there is a correction that has started among the commodities namely crude palm oil (CPO) which dipped to below RM4,000 per tonne and the Brent crude that eased to US$86 per barrel.
On the regional front, Thong observed a mixed performance on Wall Street, with traders hesitant to make significant commitments due to various challenges.
"Due to US equities' high valuations, any shortcomings from the upcoming earnings reporting will see another bout of selling.
"In view of the choppy session, the Dow Jones Industrial Average added 22 points, while the Nasdaq lost 82 points with the US 10-year yield edging higher at 4.63 per cent," he said.
In Hong Kong, the Hang Seng Index rose by 134 points due to increased buying from bargain hunters, drawn to the discounted prices of Hong Kong stocks.
Banks, insurers, and casino operators all closed higher, contributing to the index's uptick.