KUALA LUMPUR: Bursa Malaysia opened higher on Friday, tracking gains from Wall Street and ahead of the release of gross domestic product (GDP) data later today.
At 9:14 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.25 per cent, gaining 0.14 points to reach 1,594.53, compared to Thursday’s closing level of 1,592.28.
The broader market sentiment was positive, with 219 gainers outpacing 152 losers, while 250 counters remained unchanged.
HLIB Research noted that following a strong rebound on Wall Street overnight, driven by a tariff delay and declining yields, the FBM KLCI could stage a recovery today, aiming for the psychological resistance level of 1,600.
However, the firm cautioned that market volatility is likely to persist as investors assess several key factors.
These include the upcoming February earnings season, ongoing global trade tensions, the Federal Reserve’s policy outlook in response to elevated US inflation in January, economic challenges in China, and continued net outflows from foreign investors.
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