Bursa Malaysia opens higher on bargain hunting, pares gains

Bursa Malaysia opened higher on Tuesday but subsequently pared its gains, buoyed by bargain hunting amid easing tensions in West Asia, which lifted sentiment and pushed Brent crude oil prices lower. The benchmark index closed at 1,666.81, down 0.13 points from Monday's close of 1,666.94, with market breadth remaining positive as gainers led losers 265 to 150.

Analysts view the local bourse as a good opportunity for stock picking due to its weak performance last week and decent market valuation at below the 16.5 times price-to-earnings average.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.