KUALA LUMPUR: Bursa Malaysia opened mixed today, with the main index see-sawing between gains and losses within a narrow range.
At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.42 points to 1,538.19 from Monday's closing of 1,538.61.The index initially opened slightly higher, up by 0.11 points, at 1,533.72.
Loser outpaced gainers 305 to 247, with 390 counters unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said foreign investors will continue to acquire Malaysian stocks, capitalising on the comparatively low valuations of stocks and currencies across Southeast Asia.
"Though a correction is anticipated anytime soon, we suspect it's only for a short period hence expect the index to hover within the 1,535-1,545 range today with interests possibly on the Construction and Utilities stocks," said Thong.
On the global front, he said Wall Street was closed for Washington's birthday yesterday and a look at the futures showed that all 3 major indices remained rather flat.
"Over in Hong Kong, the HSI lost 184 points and halted its Dragon year rally as the Chinese authority kept interest rates unchanged," he added.