KUALA LUMPUR: Bursa Malaysia edged higher in early trading, snapping a two-day losing streak as bargain hunters stepped in despite a weak overnight session on Wall Street.

At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.55 points to 1,581.22 from Thursday's close of 1,577.67.

The benchmark index opened 2.25 points higher at 1,579.92.

On the broader market, decliners outpaced gainers 150 to 144, with 275 counters unchanged, 1,783 untraded and 21 suspended. Turnover fell to 241.01 million shares worth RM86.37 million.

Rakuten Trade Sdn Bhd head of research Kenny Yee Shen Pin said Wall Street declined after a lacklustre forecast from retail giant Walmart, with concerns over the US economic outlook further weighing on sentiment.  

As a result, the US 10-year Treasury yield eased to 4.507 per cent, he noted.  

"On the home front, the FBM KLCI remained under pressure, closing below the 1,580 level. The index has been retreating over the past week from the 1,600 mark.  

"Hence, we believe bargain-hunting opportunities should emerge soon. Today, we expect the index to move within the 1,575-1,585 range," he said in a note.  

Among heavyweights, Maybank fell two sen to RM10.42, CIMB lost 10 sen to RM8.34, while Public Bank gained one sen to RM4.50. Tenaga Nasional added six sen to RM13.86, and IHH Healthcare was unchanged at RM7.21.  

Ingenieur Gudang was the most actively traded stock, flat at 5.5 sen. TWL Holdings edged up half-a-sen to 2.5 sen, YTL Corporation rose six sen to RM2.09, while Aizo Group and Aimflex fell half-a-sen each to nine sen and 11 sen, respectively.