KUALA LUMPUR: Bursa Malaysia opened mixed tracking Wall Street's choppy session due to mixed results from tech stocks.
At 9.30am, FTSE Bursa Malaysia (FBM) KLCI was down 0.44 per cent or 7.23 points to 1,622.45 versus Tuesday's close of 1,629.68.
The key index opened slightly higher at 1,631.31.
The broader market saw losers led gainers 439 to 188 while 417 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng noted the FBM KLCI rebounded to within the crucial 1,630 mark as bargain hunters returned, pushing the daily volume traded above the five billion shares level.
"We remain positive that interest in the local bourse persists despite the recent unloading by foreign funds. As such, we expect the index to hover within the 1,625-1,635 range today," he said in a note.
Meanwhile, Malacca Securities Sdn Bhd expects mild profit-taking activities to emerge in view of the softer Wall Street's overnight performance.
"However, it will be a decent accumulation opportunity within the stocks related to data centre catalysts, and stocks within the construction, building materials, property, and utilities sectors will be scooped up in the near term.
"Also, we believe selected technology stocks will be attractive ahead of the earnings in August. Besides, we have observed some pickup in trading activities within the Sarawak theme, which may be on watch by traders," it added.