KUALA LUMPUR: Bursa Malaysia opened mixed on Friday with the key index opening higher on buying interest despite Wall Street's overnight decline.
At 9.20am, FTSE Bursa Malaysia KLCI rose 0.46 per cent or 7.36 points to 1,611.62 versus Thursday's close of 1,604.26.
The key index opened 4.62 points higher at 1,608.88.
The broader market was however negative with decliners surpassing gainers 449 to 258 while 350 counters were unchanged.
Rakuten Trade Sdn Bhd noted the FBM KLCI fell marginally to just below the 1,605 level at closing yesterday as market undertone stayed cautious in line with the weak regional performance.
"It is crucial that the index does not dip below the psychological 1,600 mark thus we expect some buying support to emerge albeit in a muted manner in view of an extended weekend."Therefore, we expect the index to hover between the 1,600-1,610 range today," the firm said in a note.
On the global front, it added Wall street extended its decline as sentiment remains affected by a weak guidance from Salesforce the prolonged no rate adjustment ahead of the crucial inflation data out later today.
As such, the Dow Jones Industrial Average slumped 330 points while the Nasdaq dropped 183 points with the US 10-year yield falling to 4.55 per cent. Over in Hong Kong, the Hang Seng Index extended its losing streak amid the rising US Treasury yields and the waning outlook for China's property sector.
The index lost more than 500 points over the last five days after a brief rally since early-May.
