KUALA LUMPUR: Bursa Malaysia opened higher today supported by bargain hunting activities.
At the start of trading, the FBM KLCI rose 3.17 points to 1,625.23, recouping some of the 14-point loss recorded in the previous day.
In the broader market, gainers outnumbered decliners 353 to 122, with 291 counters unchanged, 1,705 untraded and 16 suspended.
Turnover stood at 291.12 million units worth RM184.96 million.
Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said the FBM KLCI declined to nearly 1,620 yesterday as selling activities gathered momentum amid a broad regional sell-off.
Thong said the firm were surprised by the selling, possibly due to the heightened uncertainty in US politics.
"Nonetheless, we see some bargain-hunting activities today and expect the index to hover within the 1,625-1,635 range," he told the Business Times.
Among the heavyweights, Malayan Banking Bhd added 6.0 sen to RM10.12, CIMB Group Holdings B Bhd gained 5.0 sen to RM7.17, IHH Healthcare Bhd rose 4.0 sen to RM6.30, while Tenaga Nasional Bhd and Public Bank Bhd increased 2.0 sen each to RM14.46 and RM4.21, respectively.
Among the actives, newly listed Well Chip Group Bhd soared 56 sen to RM1.71, Pegasus Heights Bhd gained half a sen to 1 sen, and Eversendai Corporation Bhd rose by 4 sen to 61.5 sen. Ends