KUALA LUMPUR: Bursa Malaysia started on a rebound on Thursday following yesterday's steep sell-off on the back of rising US bond yields and political uncertainties at home.
At 9.03am, the FBM KLCI was up 8.97 points to 1,582.48 as investors picked up on bargains.
"We think the FBM KLCI is steeply oversold, bargain hunting may emerge over the near term tracking Wall Street overnight gains on technology stocks.
"We believe the broader market may recover but we expect the rebound to be short-lived and traders may adopt selling into strength strategy," said Malacca Securities Research.
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