Bursa rebounds despite weak external momentum

KUALA LUMPUR: Bursa Malaysia opened lower today, but rebounded slightly higher thereafter, despite the weak external momentum, dealers said.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.98 of a point higher at 1,731.72 from 1,730.74 on Friday and after opening 1.34 points weaker at 1,729.4.

A dealer said weak buying momentum and overhanging fears over rising US interest rates, the slowing global economy and rich market valuations should restrict any upside potential.