KUALA LUMPUR: After a three-day pullback, Bursa Malaysia has steadied and traded higher during the morning session due to the emergence of bargain hunting activities, said analysts.
At 12.30pm, the FBM KLCI gained 2.82 points to 1,603.49 from Friday's close of 1,600.67.
The barometer index opened 1.63 points higher at 1,602.30, moving between 1,600.43 and 1,604.80 levels throughout the morning trading session.
Gainers led decliners 517 to 463, 502 counters were unchanged, 868 untraded and 27 others suspended. Turnover amounted to 2.69 billion units worth RM1.55 billion.
Malacca Securities Bhd head of research Loui Low said China has done another round of stimulus measures which may boost the appetite for the regionals and local markets.
"Besides, we believe the construction, property, utilities, building material and consumer will be decent for trading in the near term," he told Business Times.
Malacca Securities Sdn Bhd said with the market sentiment remaining bullish last week, buying interest is expected to continue this week.
"We expect the technology sector to remain attractive on the back of relatively positive earnings guidance from the US corporates, while the domestic catalysts will include the KL20 summit, higher demand and investments into data centers and AI-related activities in Malaysia," it added.