Bursa Malaysia bounced back in the middle of the trading session after recording a fall in the early morning following a lack of buying interest from foreign funds.
At 3.35pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.12 points to 1,616.20 from 1,610.47 when it closed yesterday.
The benchmark index opened 1.90 points higher at 1,612.37.
Across the broader market, losers outnumbered gainers by 499 to 332 and 474 counters remained unchanged.
Rakuten Trade Sdn Bhd's Vice President of Equity Research Thong Pak Leng said the benchmark continued to experience declines and closed above the 1,610 level despite recording optimistic early trading.
He said the performance was due to profit taking by foreign funds.
He also said that the recent outflow of foreign funds may be due to the possibility of a smaller reduction in interest rates by the US Fed which also pushed the ringgit low against the US dollar to RM4.36 at the moment.
They expect the index to hover in the 1,610 to 1,620 range throughout today.
Among heavyweight stocks, Maybank added six sen to RM10.46, Public Bank was unchanged at RM4.46, CIMB rose three sen to RM8.05, Tenaga lost eight sen to RM13.92, and IHH contracted two sen to RM7.34. .
Among the active stocks, OB Holdings rose one sen to 25 sen, MyEG fell half a sen to 87.5 sen, while Yew Lee and its warrant rose half a sen to 57.5 sen and 24.5 sen respectively.
