KUALA LUMPUR: Bursa Malaysia opened lower today after the Wall Street closed on a mixed note as sentiment turned cautious ahead of the US inflation data.
At 9:10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.38 per cent or 6.07 points to 1,600.59 compared with Monday's close at 1,606.66.
The index opened 0.82 point lower at 1,605.84.
On the broader market, losers led gainers 188 to 124, while 266 counters were unchanged, 1,868 untraded and nine suspended.
Turnover stood at 148.15 million units worth RM71.58 million.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said returned buying activities in the FBM KLCI on Monday will eventually instill some confidence on the smaller caps and the daily volume is expected to improve going forward.
"Hence, we reckon the index to hover within the 1,600 to 1,615 range today as market undertone remains on a cautious mode."
"Meanwhile, escalating tension in the Middle East and more positive US economic data saw crude oil prices firming as the Brent crude topped almost the US$81 per barrel," he said.
Meanwhile, Maybank Investment Bank (Maybank IB) said the key index is poised for a volatile session after Wall Street ended mixed overnight.
"Sentiment may stay cautious ahead of the US inflation data and Malaysia gross domestic products (GDP) data for the second quarter of 2024. Investors will also look to corporate earnings for guidance."
"Technically, we expect the benchmark index to range between 1,600 and 1,620 today, with supports at 1,581 and 1,563," the research firm added.