Bursa extends rebound on Wall Street rally

KUALA LUMPUR: A strong performance on Wall Street helped Bursa Malaysia extend a rebound as global markets retraced some of the recent losses due to fears over interest rate hikes.

"We believe that the local bourse may attempt to build onto yesterday’s gains, capitalising on the recovery move yesterday on the back of the robust retail sales data for December 2021, which is at record high of RM120.5bn (+3.5% YoY)," said Malacca Securities Research in a report.