KUALA LUMPUR: Bursa Malaysia was in negative territory today tracking Wall Street's market jitters ahead of the US presidential election.
At 10.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped to 1,615.58 points from Monday's close of 1,616.43.
The broader market was negative, with losers leading gainers at 354 to 279, while 395 counters remained unchanged.
Rakuten Trade Sdn Bhd's equity research vice president Thong Pak Leng said bargain hunting activities propped the FBM KLCI to above the 1,615 level predominantly led by renewed interests in Plantation stocks.
"As we had highlighted over the past 2 weeks, the strong crude palm oil (CPO) price will eventually place the planters back into the radar."
"We believe there are still legs for these stocks as the CPO futures are racing towards the RM5,000/tonne level."
"As we enter into the earnings season, we reckon sentiment should improve underpinned by the solid 15.4 per cent earnings growth forecast for calendar year 2024 (CY24) thus expect the index to chart within the 1,610-1,620 range today," he said.