Bursa Malaysia rebounds at opening on bargain hunting
KUALA LUMPUR: Bursa Malaysia’s key index rebounded to open higher on Wednesday as bargain hunting emerged after recent losses, despite negative cues from Wall Street.
KUALA LUMPUR, Sept 30 - Bursa Malaysia's main index, the FTSE Bursa Malaysia KLCI, opened higher on Wednesday after a rebound from recent losses, fueled by bargain hunting. The index climbed 4.34 points, or 0.26 percent, to 1,648.30 from the previous close of 1,643.96. Despite negative cues from Wall Street, the market saw more declines than gains (214 to 174) and 293 counters remained unchanged.
Turnover was 265.65 million shares, valued at RM151.82 million. Analyst Rakuten Trade Sdn Bhd's Thong Pak Leng noted the market's oversold state, offering opportunities for selective accumulation in strong blue-chip stocks. However, he warned that recovery may remain limited unless foreign selling eases and banking leaders gain support.
Among the top gainers, Allianz Malaysia and MISC rose 14 sen to RM21 and RM7.74, respectively, while Eurospan led the biggest losers, falling 29 sen to RM2.95.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Bursa Malaysia rebounds on bargain hunting after recent losses malaymail.com
- Bursa rebounds at opening on bargain hunting freemalaysiatoday.com
