KUALA LUMPUR: Bursa Malaysia opened slightly higher today on bargain hunting, tracking Wall Street’s overnight rebound amid rising expectations of US monetary easing next week.
At 9.29am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.13 of a point to 1,622.97 from Wednesday’s close of 1,622.84.
The index had opened 1.79 of a point higher at 1,624.63.
The broader market was positive, with 284 gainers outpacing 189 losers. A further 363 counters were unchanged, 1,889 remained untraded, and seven were suspended.
Analysts said the opening sentiment was lifted by Wall Street’s recovery, following a weaker-than-expected private payroll report in November, which strengthened expectations that the Federal Reserve could cut rates next week.
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