KUALA LUMPUR: Bursa Malaysia opened higher on Friday morning, as investors await the announcement of the third quarter (3Q) gross domestic product (GDP) statistics today.
At 9.19 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) opened 0.23 per cent higher, adding 3.76 points to 1,604.44 compared to last close of 1,600.68.
The broader market was also positive, as gainers led losers by 238 to 218, while 300 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng noted that the sell-off in local stocks occurred alongside regional weakness, suggesting that foreign funds might currently be retreating from Asia.
"We believe a swift rebound for the index to occur as levels below 1,600 should entice bargain hunters hence expect it to hover within the 1,600-1,610 range today," he added.