KUALA LUMPUR: Bursa Malaysia has sustained its upward trend this morning, bolstered by buying activities in specific heavyweights amid positive sentiments in regional markets.
As of 9:15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) has increased by 2.50 points to 1,508.78 from the previous day's closing at 1,515.39.
The benchmark index began the day 2.36 points higher at 1,517.75.
In the broader market, gainers slightly outnumbered losers with 216 to 213, while 314 counters remained unchanged, 1,515 were untraded, and 73 others were suspended.
Total turnover stood at 370.40 million units, valued at RM209.18 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that Wall Street concluded on a positive note in anticipation of upcoming earnings reports from prominent tech companies and the imminent release of economic data.
He mentioned that there is also anticipation regarding the likelihood that the Federal Open Market Committee (FOMC) will keep interest rates unchanged in their meeting today.
"Locally, the FBM KLCI sustained its upward trajectory, supported by a more consistent influx of foreign funds."With the benchmark index breaking decisively past the 1,500 mark, there is a belief in its potential to reach 1,600 as the next significant resistance," he said in a note today.
Thong anticipates that the index will experience fluctuations between 1,515 and 1,525 today, given the favourable conditions of regional central banks maintaining their current interest rates.
On the global front, The DJI Average saw a gain of 224 points, while the Nasdaq surged by 173 points, and the US 10-year yield slightly eased to 4.07 per cent.
The Hang Seng Index (HSI) in Hong Kong continued its rebound, closing above the 16,000 level, but retreated from the day's peak due to the court's decision to place China's Evergrande into liquidation.
