Bursa Malaysia opens higher as investors focus on 3Q earnings announcement

KUALA LUMPUR: Bursa Malaysia opened on a positive note trailing Wall Street's performance as investors await upcoming third quarter earnings results and inflation data.

The local bourse however is still within consolidation mode as trading activities remain muted.

At 9.25am, FTSE Bursa Malaysia (FBM) KLCI was up 0.21 per cent or 3.44 points to 1,639.06 versus Tuesday's close of 1,635.62.

The key index opened at 1,637.66.

The broader market saw gainers led losers 346 to 229 while 355 counters were unchanged.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI closed marginally higher yesterday due to last minute buying activities paring earlier losses.

"Though daily traded volume improved somewhat, it remains insufficient to instigate any heightened trading activities. "Therefore, we maintained that the local bourse is still stuck within its consolidation phase and the index is expected to hover within the 1,630-1,640 range today," he said in a note.

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