KUALA LUMPUR: Bursa Malaysia opened on a positive note in the morning session, following Wall Street's gains driven by bargain hunting after recent declines, as traders anticipate a Federal Reserve rate cut in the upcoming week.

At 9.14 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) opened by 0.31 per cent higher, gaining 5.08 points to reach 1,656.57, compared to Thursday's close of 1,651.49.

The broader market was also positive, with 418 gainers outpacing 153 losers, while 308 counters remained unchanged.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that the FBM KLCI dipped slightly, nearing the 1,650 level, despite some buying activity throughout most of yesterday's session, as selling pressure on YTL-related companies persisted.

He added that the daily trading volume saw an improvement, largely driven by the debut of 99 Speed Mart Retail Holdings Bhd.

"Otherwise, market sentiment was still in cautious mode despite net foreign fund inflows are still apparent. For today, we expect the index to hover within the 1,650-1,660 range," he added.

https://www.nst.com.my/business/corporate/2024/09/1103696/bursa-malaysia-rebounds-mirroring-wall-streets-gains