At 9.10am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 1.20 points at 1,521.94 from Wednesday's close of 1,520.74 after repurchase activity on selected heavyweights outpaced earlier losses.
The index opened 0.26 points lower at 1,520.48.
The broader market saw losses outpacing gains with 218 to 129 while 267 counters were unchanged, 1,678 untraded and 18 suspended.
Total turnover was 232.21 million units worth RM110.29 million.
A note issued by Malacca Securities Sdn Bhd noted that the performance of the FBM KLCI may continue to weaken with growing concerns over inflation following the announcement of a higher -than -expected Chinese producer price index,
He added that the market will use a wait -and -see strategy ahead of Malaysia's third quarter gross domestic production data which will be released on Friday.
Market sentiment appears weak while the medium to long-term outlook for the aviation and tourism sectors looks bright ahead of the gradual reopening of borders for international tourism. In addition, furniture -related stocks are expected to gain attention in the upcoming reporting season amid higher demand for furniture during the work -from -home period.
Heavyweights saw Malayan Banking Bhd (Maybank) and Tenaga Nasional Bhd (TNB) rise 3 sen at RM8.02 and RM9.61 respectively, IHH Healthcare Bhd increased 10 sen at RM6.55 while Public Bank declined 1 sen at RM4 .01 and Petronas Chemicals Group Bhd (PetChem) remained at RM8.30.
Active stocks saw XOX Bhd and Tanco Holdings Bhd remain at 3.5 sen and 27 sen respectively while Iconic Worldwide Bhd added 1.5 sen at 47.5 sen and Ecomate Holdings Bhd rose 0.5 sen at 52.5 sen.
On the index board, the FBM Emas index declined 0.83 points to 11,265.75, the FBMT 100 index increased 0.59 points to 10,901.31, the FBM Emas Shariah index declined 2.51 points to 12,276.08 while the FBM ACE rose 26.58 points to 6,965.16 and the FBM 70 decreased 30.04 points to 14,931.10.
The Industrial Products and Services index rose 0.06 points at 201.47, the Plantation index rose 1.37 points at 6,631.26 and the Financial Services index rose 0.57 points at 15,094.82.
