Bursa Malaysia rebounds on bargain hunting after recent losses

Bursa Malaysia's key index, the FTSE Bursa Malaysia KLCI, rebounded on Wednesday as bargain hunters emerged after recent losses, despite negative cues from Wall Street. At 9:10 am, the index recovered 4.34 points or 0.26 percent to 1,648.30 from Tuesday's close of 1,643.96. The index opened 2.53 points higher at 1,646.49. Market research firm Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that the market is increasingly oversold, creating opportunities for selective accumulation in fundamentally sound blue-chip stocks.

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