At 9.10am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 4.71 points at 1,516.98 from Monday's close of 1,515.27.
The index opened 3.65 points at 1,515.92.
It opened high ‘as if it had been visited by Caishen’ which supported buying momentum by some heavyweights.
On the broader market, investors saw gainers outpacing losers by 237 to 107, while 220 counters were unchanged, 1,642 untraded and 11 suspended.
Total turnover at 237.77 million units worth RM20.53 million.
According to a note from Malacca Securities Sdn Bhd, market sentiment is expected to rebound after closing lower on Monday but price gains may be limited in the near term with lower trading activity due to the Chinese New Year holiday.
He added that investors may be looking at the Purchasing Managers' Index (PMI) data of the United States (US), Malaysia and the European zone which will be released on Thursday.
Heavyweights saw Malayan Banking Bhd (Maybank) gain 6 sen at rm8.33, Sime Darby Plantation Bhd and Inari Amertron Bhd rose 9 sen at RM3.53 AND RM3.39 and Genting Malaysia Bhd (GenM) strengthened 5 sen at RM2. 78.
Active stocks saw G3 Global Bhd remain at 8 sen, Dagang NeXchange Bhd (DNeX) rose 3 sen at 97 sen and OCR Group added 1.5 sen at 15 sen.
On the index board, FBM ACE advanced 50.92 points at 6,141.13, while FBM 70 was strong 87.94 points at 13,470.40, FBM Emas added 42.02 points at 10,914.25, FBMT 100 gained 41.13 points at 10,610.04 and FBM Emas Shariah reached 39.76 points at 11,608.86.
The Financial Services Index hit 65.01 points at 15,758.30, the Products and Services Industry index hit 0.08 points at 201.25 and the Plantation index drove 35.79 points at 6,571.26.
