KUALA LUMPUR: Bursa Malaysia maintained its positive momentum at midday as bargain hunters prop up market.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.94 points to 1,646.25 from from Thursday's close of 1,638.31.
The benchmark index opened 4.32 points higher at 1,642.63 and hovered between 1,638.44 and 1,647.22 throughout the morning trading session.
The broader market saw gainers outnumbering losers 633 to 328, while 386 counters unchanged and 1,098 untraded.
Heavyweights such as Nestle (M) Bhd, Petronas Dagangan Bhd and Public Bank Bhd are among the top five gainers today.
Malacca Securities said the rebound in the US may spillover to stocks on the local front, specifically in the technology sector as they are significantly oversold.
However, the research firm noted that upside may be capped due to the strong ringgit environment, where the earnings may be softer in the upcoming quarters.
"Meanwhile, on the flip side, the elevated ringgit tone could help our domestic sector such as consumer, financial and selected utilities.
"We also favour construction and building materials as we believe the data centre projects may start to materialise into earnings of the construction sector going forward," it added.