KUALA LUMPUR, May 10 — Bursa Malaysia rebounded from yesterday’s losses to open higher today, buoyed by bargain-hunting activities, a dealer said.

At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.54 points to 1,554.72 from Monday’s close of 1,549.18.

The index opened 2.37 points higher at 1,551.55.

On the broader market, losers trounced gainers 470 to 120, while 241 counters were unchanged, 1,412 untraded and 14 others suspended.

Total turnover stood at 444.24 million shares worth RM212.97 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said although the market expects to experience some bargain-hunting activities, overall sentiment remains cautious over the heightened volatility on regional markets.

"The FBM KLCI closed lower to below the 1,550 level yesterday due to continuous selling by foreign funds, therefore we reckon the index to trend within the 1,540-1,555 range today,” he told Bernama.

Among the heavyweights, Petronas Gas added 28 sen to RM17.16, Public Bank rose eight sen to RM4.64, PPB Group improved 30 sen to RM16.68, and Hartalega gained 11 sen to RM4.39.

Of the actives, Serba Dinamik contracted 2.5 sen to 8.5 sen, Ta Win stayed flat at 13 sen, Pertama Digital added half-a-sen to 94 sen, while Hibiscus Petroleum lost five sen to RM1.32.

On the index board, FBM ACE shed 33.59 points to 5,349.42, FBM 70 dipped 40.47 points to 13,184.08, FBM Emas Shariah Index dropped 12.25 points to 11,515.72, while FBMT 100 Index advanced 21.93 points to 10,766.23 and FBM Emas Index inched up 3.83 points to 11,087.44.

Sector-wise, the Financial Services Index rose 52.67 points to 16,660.71, the Industrial Products and Services Index was 1.76 points lower at 198.43, and the Plantation Index slipped 48.79 points to 8,202.64. — Bernama