KUALA LUMPUR: Bursa Malaysia was trading mixed today with the key index marginally higher but the broader market negative, following the latest US Federal Reserve's (Fed) interest rate cut.
The FTSE Bursa Malaysia KLCI (FBM KLCI) opened up 4.34 points at 1,627.62 earlier.
At 9.30 am, the FBM-KLCI was at 1,624.50, up 1.22 points.
Across the broader market, decliners led gainers 159 to 114 while 253 counters were unchanged, 1,880 untraded and 17 suspended.
Turnover stood at 129.39 million shares valued at RM61.75 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the recent rally in the FBM KLCI indicates strong buying interest, signalling a promising short-term rebound opportunity.
He said Malaysia's promising gross domestic product (GDP) growth forecast, strategic investments, and strengthened ties with global economies could positively influence the stock market in the short to medium term.
"Sectors like services, manufacturing, and ICT may see increased investor interest, while fiscal stability and targeted subsidies could bolster overall market confidence and drive broader gains."
"As such we anticipate the FBM KLCI to trend within the range of 1,620-1,640 for today," he said.
Among the actives, 3Ren Bhd climbed 1.5 sen to 47.5 sen, Microlink Solutions Bhd gained 2.0 sen to 16 sen, and Steel Hawk Bhd added half-a-sen to 37.5 sen.
Meanwhile, DXN Holdings Bhd fell 2.5 sen to 49 sen and AHB Holdings Bhd was flat at 4.0 sen.Ends