KUALA LUMPUR: Bursa Malaysia opened slightly lower today, but rebounded thereafter as renewed buying activities in selected heavyweights offset earlier losses, dealers said.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.20 points to 1,521.94 from Wednesday's close of 1,520.74, after opening 0.26 of-a-point lower at 1,520.48.

However, on the broader market, losers surpassed gainers 218 to 129, while 267 counters were unchanged, 1,678 untraded and 18 others suspended.

Turnover amounted to 232.21 million units worth RM110.29 million.

In a research note today, Malacca Securities Sdn Bhd said the FBM KLCI may continue to perform in a weaker tone due to rising concerns over inflationary pressures, following the release of China's higher-than-expected producer price index.

"Also, with the Wall Street's negative performance, especially within the technology sector, selling interest may spill over towards the local front," it said.

The research firm said that market players will be adopting a wait-and-see strategy ahead of Malaysia's third-quarter gross domestic production (GDP) data to be released tomorrow.

"Although the sentiment might turn weaker on the broader market, we see brighter prospects in mid-to-long term for the aviation and tourism sectors, in view of the gradual border reopening for international tourists.

"Meanwhile, we do expect the furniture-related stocks to gain attention in the upcoming reporting season amid higher demand for furniture during the work-from-home period," it added.

Among the heavyweights, Maybank and TNB rose 3.0 sen each to RM8.02 and 9.61, respectively, and IHH Healthcare gained 10 sen to RM6.55, while Public Bank slipped 1.0 sen to RM4.01 and Petronas Chemicals was flat at RM8.30.

Of the actives, XOX and Tanco Holdings were flat at 3.5 sen and 27 sen, respectively, while Iconic Worldwide improved 1.5 sen to 47.5 sen and Ecomate earned half-a-sen to 52.5 sen.

On the index board, the FBM Emas Index decreased 0.83 of-a-point to 11,265.75, the FBMT 100 Index advanced 0.59 of-a-point to 10,901.13, the FBM Emas Shariah Index dipped 2.51 points to 12,276.08, the FBM ACE rose 26.58 points to 6,965.16 and the FBM 70 weakened by 30.04 points to 14,913.10.

Sector-wise, the Industrial Products and Services Index edged up 0.06 of-a-point to 201.47, the Plantation Index perked 1.37 points to 6,631.26, and the Financial Services Index was 0.57 of-a-point higher at 15,094.82.--BERNAMA