KUALA LUMPUR: Bursa Malaysia rebounded to open higher on Friday, despite a weaker Wall Street's performance overnight.
At 9.35am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.38 points or 0.08 per cent to 1,634.25 from Thursday's close of 1,632.87.
The benchmark index opened 2.07 points better at 1,634.94. On the broader market, gainers led losers 340 to 292, while 408 counters unchanged, 1,301 untraded, and 11 suspended.
Rakuten Trade Sdn Bhd head of research Kenny Yee said the Wall Street closed lower amid a volatile session as high valuations remain a major stumbling block with an eye on Trump's return.
In addition, the latest job data showed that the US labour market is still strong and resilient hence the US 10-year yield stays elevated at 4.563 per cent.
"On a broader perspective, Asian markets welcomed 2025 on a weak note as investors are faced with trepidation ahead of Trump's return to the White House.
"As such, the HIS closed below the 20,000 mark over the uncertainty on China's growth and Trump's policy," he said.
As for the FBM KLCI performance on Thursday, Yee said it ended lower to just above the 1,630 level, suffering from indigestion after almost a 30-point gain since last Friday.
Nonetheless, he said this is only temporary as market valuations will play a pivotal role and Malaysian stocks are reasonably priced.
"Therefore, we expect the index to recover and hover within the 1,630 to 1,640 range today," Yee added.