KUALA LUMPUR: Bursa Malaysia opened higher for the second consecutive day, reflecting the positive performance across regional markets.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.33 points or 0.84 per cent to 1,575.72 from Tuesday's close of 1,574.39.
The index started the day 1.73 points higher at 1,576.12.
On the broader market, gainers outnumbered decliners 234 to 142, with 255 counters unchanged.
Turnover was at 201.72 million units worth RM94.15 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said while the rebound in the key index is promising, its sustainability remains uncertain due to jittery market sentiment.
Therefore, he said it is essential to observe consistent buying support on the local bourse over the next few days before the market undertone improves.
"For today, we believe trading to remain cautious thus expect the index to hover within the 1,570-1,580 range.
"Finally, we are also keeping an eye in the middle east as prevailing simmering tension may boil into a full wage war," he told Business Times.
Meanwhile, Thong said Wall Street staged a relief rally last night as all three major indices closed on a positive note supported by broad based buying.
Nonetheless, he said many are aware that market volatility has heightened and do not discount the fact that selling activities may re-emerge.
He also added that confidence remains fragile on concerns over China's growth and the lack of easing catalysts.
The Dow Jones Industrial Average (DJIA) gained 294 points while the Nasdaq added 167 points as the US 10-year yield edged higher at 3.90 per cent.
Over in Hong Kong, the Hang Seng Index (HSI) pared earlier gains to end slightly lower despite the rally in Japan.
"Confidence remains fragile on concerns over China's growth and the lack of easing catalysts," Thong said.