KUALA LUMPUR: Bursa Malaysia rebounded on Monday, opening higher following Wall Street performance last Friday.

Wall Street closed higher as the surge in September's job data countered the escalating tension in the Middle East.

At 9.46am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.26 per cent or 4.17 points to 1,634.14 versus Friday's close of 1,629.97.

The benchmark index opened 3.61 points higher at 1,633.58.

Market breadth was positive with gainers leading losers 416 to 299, while 402.

Turnover stood at 776.8 million units valued at RM422.7 million.

Energy and technology stock were particularly in favour.

Rakuten Trade equity research vice president Thong Pak Leng said the FBM KLCI is due for after falling below the 1,630 level last week due to persistent selling from the foreign funds.

"As the index has lost 25 points over the past five days, a quick rebound is needed before we enter into another prolong consolidation phase," he added.

Therefore, Thong said the index is expected to move within the 1,630 to 1,640 range today.

Meanwhile, the crude palm oil (CPO) price maintained its uptrend to hover above RM4,200 per tonne spur by the higher crude oil prices amid the tension in the middle east and partly due to the lower ringgit currently at RM4.23 compared to the greenback.

https://www.nst.com.my/business/corporate/2024/10/1115950/bursa-malaysia-rebounds-tracking-wall-street