At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.69 points to 1,613.57 from Tuesday’s close of 1,611.88.
The benchmark had opened 0.74 of-a-point higher at 1,612.62.
Market breadth was slightly positive, with gainers outnumbering losers 164 to 159. Meanwhile, 307 counters were unchanged, 1,927 untraded, and five suspended.
Turnover stood at 166.13 million units, valued at RM73.59 million.
Rakuten Trade vice-president Thong Pak Leng said the higher Wall Street close, alongside the absence of September’s US jobs data and potential rating agency downgrades, tempered concerns over the government shutdown.
Meanwhile, the US 10-year Treasury yield inched up to 4.154%.
In Hong Kong, the Hang Seng Index rebounded strongly to near the 27,000 level ahead of a National Holiday, Thong said.
He said investor sentiment was further supported by expectations of easing measures from Beijing after China’s manufacturing activity fell for a sixth consecutive month.
Locally, the FBM KLCI recovered into positive territory despite a sharp sell-off an hour before closing.
“We suspect foreign funds may have triggered the late sell-down. Meanwhile, encouraging loans growth of 5.6% in August could draw renewed interest in the banking sector. We expect the index to trade between 1,605 and 1,615 today,” Thong added.
Among heavyweights, SD Guthrie advanced 5.0 sen to RM5.27, Petronas Gas rose 14 sen to RM18.64, Maxis added 3.0 sen to RM3.65, Hong Leong Bank gained 10 sen to RM20.62, and Public Bank ticked up 1.0 sen to RM4.34.
In active trade, NexG Bina and Nova MSC were flat at 9.5 sen and 5.5 sen respectively. Key Asic added 0.5 sen to 4.5 sen, Pharmaniaga declined 0.5 sen to 28.5 sen, while TWL was 0.5 sen higher at 3.0 sen.
Other top gainers included Malaysian Pacific Industries, which rose 36 sen to RM29.08; Malayan Cement, up 7.0 sen to RM7.10; and Hong Leong Financial Group, up 6.0 sen to RM17.28.
Among top losers, Petronas Dagangan fell 20 sen to RM22.74, KPJ Healthcare slipped 5.0 sen to RM2.70, Lianson Fleet Group dropped 5.0 sen to RM1.38, IHH Healthcare dipped 4.0 sen to RM7.51, and Pansar lost 3.5 sen to 56.5 sen.
On the index board, the FBM Emas Index gained 11.07 points to 11,996.96, the FBMT 100 Index rose 11.08 points to 11,733.70, the FBM Emas Shariah Index added 13.92 points to 12,030.47, the FBM 70 Index climbed 10.59 points to 16,757.18, while the FBM ACE Index slipped 2.36 points to 5,168.95.
By sector, the Industrial Products and Services Index edged up 0.30 of-a-point to 171.76, the Energy Index fell 0.50 of-a-point to 776.12, the Plantation Index gained 24.51 points to 7,804.09, and the Financial Services Index added 34.90 points to 18,281.63.