KUALA LUMPUR: Bursa Malaysia was trading mixed for the second day this week bucking Wall Street's upbeat performance as markets anticipate upcoming earnings reports and economic data.
At 9:45 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.3 per cent, adding 4.76 points to reach 1,615.23, up from Monday's close of 1,610.47.
Meanwhile, the broader market showed a negative trend, with 318 losers outpacing 279 gainers, while 396 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI continued to slide yesterday as it dipped above the 1,610 level despite a promising opening attributed to late profit taking activities by foreign funds again.
"We suspect recent outflows of foreign funds can be due to expectations of a smaller rate cut by the Federal Reserve, which also saw the ringit weakening against the greenback to currently RM4.36."
"All said, the crude palm oil (CPO) price is heading for a highest monthly average closing for October at RM4,391/tonne thus may see some focus on the Plantation stocks."
"For today, we expect the index to hover within the 1,610-1,620 range," he added.