KUALA LUMPUR, Sept 6 — Bursa Malaysia rebounded from yesterday’s losses to open marginally higher today as the cheaper valuation attracted some investors back into the market, amid cautious sentiment on the regional bourses, dealers said.

At 9.17am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.73 of a point to 1,455.56 from 1,454.83 at Tuesday’s close.

The key index opened 0.18 of a point better at 1,455.01.

The broader market was positive with advancers leading decliners 201 to 159, while 303 counters were unchanged, 1,648 untraded and seven others suspended.

Turnover amounted to 601.89 million units worth RM157.04 million.

Malacca Securities Sdn Bhd said profit-taking activities persisted on both the local and global stock markets on Tuesday after a significant rally over the past few weeks.

“We believe traders may stay cautious as the 10-year Treasury yield spiked following the jump in oil prices (due to supply cuts from Saudi Arabia and Russia).

“With both the Treasury yield and oil prices on the rise, the market could be expecting the US Federal Reserve to stay slightly hawkish in the near term, which may pose downside risks for the stock markets,” it said in a note today.

Also, it said traders may monitor the developments on the two Johor by-elections that will be held this weekend.

Among the heavyweights, Maybank added 1.0 sen to RM9.14, CIMB went up 3.0 sen to RM5.68, Tenaga Nasional gained 5.0 sen to RM9.96 while Public Bank was flat at RM4.25 and Petronas Chemicals slipped 6.0 sen to RM7.08.

Of the actives, KNM Group rose 3.0 sen to 13 sen, Classita earned half-a-sen to 9.0 sen while Alam Maritim, Saudee Group and Tanco were flat at 3.5 sen, 3.0 sen and 56 sen.

On the index board, the FBM Emas Index went up 15.16 points to 10,754.0, the FBMT 100 Index improved 14.20 points to 10,422.51, the FBM Emas Shariah Index perked 11.80 points to 10,922.73, the FBM 70 Index climbed 57.50 points to 14,232.25 and the FBM ACE Index secured 8.96 points to 5,217.84.

Sector-wise, the Energy Index expanded 18.53 points to 871.78, the Plantation Index advanced 2.78 points to 6,893.26, the Financial Services Index bagged 19.12 points to 16,452.48 while the Industrial Products and Services Index eased 0.38 of a point to 172.45. — Bernama