KUALA LUMPUR: Bursa Malaysia opened with mixed results on Thursday morning bucking Wall Street's positive performance as US rate cuts were all but confirmed with tamer inflation.
At 9:05 a.m., the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.45 points to 1,612.80.
However, by 9:27 a.m., the index had dropped by 0.20 per cent, or 3.19 points, to 1,609.16, compared to Wednesday's close of 1,612.35.
The broader market was in negative territory, with 395 decliners outnumbering 169 gainers, while 324 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng noted that buying activity could pick up following the modest US CPI data from the previous night.
As a result, he anticipates the index to fluctuate within the 1,610-1,620 range.
"Meanwhile, we anticipate the ringgit to strengthen against the greenback going forward and dip below the RM4.40 mark anytime soon," he said.