KUALA LUMPUR: Bursa Malaysia opened marginally higher, mirroring Wall Street's modest gains amid choppy trade as investors digested inflation data and braced for quarterly earnings reports.
At 9:10 am, FTSE Bursa Malaysia (FBM) KLCI added 0.38 per cent or 5.93 points, to 1,582.39 versus Tuesday's close of 1,576.46.
The key index opened 5.87 points higher at 1,582.33.
Gainers led losers in the broader market 220 to 145, while 291 counters were unchanged.
On the index board, FBM Emas shed 0.51 per cent to 12,116.97, FBM 100 lost 0.53 per cent to 11,801.64, while FBM Ace gained 0.28 per cent to 5,260.58.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said FBM KLCI ended in negative territory yesterday, attributed to late selling activities.
He said that the index was trending positively throughout yesterday's session but succumbed to selling pressure in the final hour.
"We were surprised by the sudden sell-down and may have been instigated by foreign funds.
"Nonetheless, we believe a quick rebound is required; hence, we anticipate the index to hover between the 1,575-1,585 range today.
" At current levels, market valuations are at a cheap 14.5x vs. the historical average of 16.5x," added Thong.