KL shares open slightly higher

Bursa Malaysia opened marginally higher this morning but eased momentarily before picking up momentum again.

At 9am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.92 of-a-point better at 1,756.55 but retreated slightly before rebounding 0.43 of-a-point to 1,756.06 at 9.05am.

The index finished at 1,755.63 on Thursday. Dealers said the market was undergoing a consolidation phase in the absence of fresh leads. Maybank Investment Share Manager Teng Sew Ching said with mixed US markets overnight and uncertainty over European Central Bank's tightening measures, the local bourse was expected to remain choppy.