KUALA LUMPUR: Bursa Malaysia was mixed this morning as the FTSE Bursa Malaysia KLCI rebounded from yesterday's sharp fall as bargain hunters swooped in.

The broader market however continued its rout, with 1316 losers leading 155 gainers.

The key index was up 1 per cent to 1,552.94 points as at 10.03 am.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the firm is adamant that the selling was overdone, with the local market valuation nowhere near those on Wall Street. "For today, we believe selling may be less dramatic as Wall Street futures are all showing a rebound at time of writing hence expect the index to hover within the 1,500-1,550 range," he said in his note.

Among heavyweights, YTL Power International Bhd was up six sen to RM4.04, Telekom Malaysia Bhd rising six sen to RM6.54, Petronas Gas Bhd climbing 48 sen to RM18.28 and QL Resources Bhd adding eight sen to RM6.58.

Top actives included Talam Transform Bhd down 0.5 sen to two sen, TWL Holdings Bhd unchanged at 2.5 sen and Hong Seng Consolidated Bhd unchanged at one sen.Ends

https://www.nst.com.my/business/corporate/2024/08/1087345/bursa-malaysia-mixed-key-index-stages-rebound-1pct