KUALA LUMPUR: Investors continued to pick up oversold counters on Bursa Malaysia, capitalising on the opportunity amid a rally in global equities and an optimistic IHS Malaysia Manufacturing PMI.

At 9.08am, the FBM KLCI was up 3.37 points to 1,586.01. Market breadth was positive with 292 gainers versus 153 decliners.

At current levels, the index remains about 15 points or 0.9% lower over the week, given the sharp decline recorded on Wednesday.

"Tracking the overnight improvement at Wall Street, we expect the local bourse to extend the rebound formation especially in technology stocks, mirroring the gains in the Nasdaq," said Malacca Securities Research.

It added that there may be some attention on recovery plays as the Prime Minister announced that fully vaccinated individuals may be allowed to travel domestically and internationally.

Nevertheless, the rebound on the market proved mild with blue chips picking up slight gains.

Leading gainers were Top Glove rising four sen to RM4.68, CIMB adding two sen to RM4.38, and Petronas Gas climbing six sne to RM15.90.

On the broader market, top actives were Luster rising two sen to 23.5 sen, UCrest adding one sen to 26 sen and Permajau gaining 0.5 sen to 21 sen.