KUALA LUMPUR: Bursa Malaysia opened a mix on Wednesday as buying interest in heavyweights pushed the benchmark index above the 1,660 mark within 30 minutes of trade.
At 9.30am, FTSE Bursa Malaysia (FBM) KLCI rose 0.92 per cent or 15.14 points to 1,667.43 versus Tuesday's close of 1,652.29.
The key index opened higher at 1,657.77 buoyed by buying interest in financial services and plantation sectors. On the broader market, decliners trumped gainers 330 to 257 while 345 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI surged past the 1,650 mark on the back of continuous inflows of foreign funds that surged by RM1.4 billion over the last seven days.
"We believe accumulation of blue chips to persist although sentiment of the broader market may be somewhat lacklustre due to the lack of retail participation. "We reckon the recent influx of IPOs which topped RM2 billion raised for the first half of 2024 may be one of the main reasons for the low interest in small caps," he said.
The firm expects the index to oscillate between the 1,645-1,655 range today.