KUALA LUMPUR: Bursa Malaysia opened higher today taking cue from Wall Street's uptrend.
At 9:25 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.67 point or 0.1 per cent to 1,611.19 from Tuesday's close of 1,609.52.
The index opened 2.27 points at 1,611.79.
On the broader market, gainers led losers 386 to 73, while 216 counters unchanged, 1,793 untraded and nine suspended.
Turnover stood at 159.92 million units worth RM87.60 million.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng anticipates the Bursa Malaysia's trading activities to improve, taking cue from the uptrend on Wall Street.
"Wall Street surged as sentiment was buoyed by a decent PPI (producer price index) data which could imply of a tame CPI (consumer price index) figure that is to be released later today and that a lower CPI will certainly indicate rate cuts by the Federal Reserve (Fed) in September," he said.
Concurrently, Thong expected the index to hover within the 1,610 to 1,620 range today.
Meanwhile, Maybank Investment Bank (Maybank IB) said the overnight performance on Wall Street should lend support to the FBM KLCI while sentiment will remain cautious ahead of the US CPI data.
"Locally, besides corporate earnings, all eyes will be monitoring the Prime Minister's announcement on the Public Service Remuneration System this Friday."
"Technically, we expect the benchmark index to range between 1,600 and 1,620 today, with supports at 1,581 and 1,563," the research firm added.