Bursa Malaysia Ends Week Mixed as Heavyweights Drive Recovery

The FBM KLCI managed to close higher, gaining 1.6 points, or 0.1%, to settle at 1,602.41, defying the broader regional decline. The market traded in a narrow range of 6.03 points, touching an intraday high of 1,605.74 and a low of 1,599.71. Despite the day’s gains, the index was down 27.05 points, or 1.66%, for the week. Trading volume stood at 2.52 billion shares, valued at RM2.42 billion, with 443 gainers and 530 decliners.

Heavyweights and Key Movers

Bargain-hunting activities drove gains in select blue-chip counters. United Plantations rose 24 sen to RM31.50, Guan Chong gained 21 sen to RM4.12, Allianz added 20 sen to RM20.80, and Ajinomoto advanced 20 sen to RM15.20. On the other hand, Malaysian Pacific Industries led the losers, sliding 70 sen to RM23.96. PETRONAS Dagangan dropped 60 sen to RM19.10, Hong Leong Industries fell 30 sen to RM12.90, and Kuala Lumpur Kepong declined 26 sen to RM21.10.

Sectoral and Regional Performance

Sector-wise, banking and telecommunications stocks provided strong support to the market. Maxis gained 11 sen to RM3.65, while CIMB rose 9 sen to RM5.56. Regional markets, however, experienced significant declines. Japan’s Nikkei 225 lost 1.05%, China’s CSI 300 fell 1.25%, and Hong Kong’s Hang Seng Index dropped 0.92%, reflecting investor concerns over inflation and global economic slowdown risks.

Forex and Fund Flows

On the currency front, the ringgit appreciated slightly by 0.13% against the US dollar to 4.4972. The local currency also gained 0.08% against the Singapore dollar at 3.2860 and rose marginally by 0.03% against the British pound at 5.5286. Bursa Malaysia data revealed net foreign outflows of RM162 million, while local institutions and retail investors contributed net purchases of RM44 million and RM118 million, respectively.

Outlook and Key Levels

The FBM KLCI’s rebound above 1,600 indicates short-term stability, with immediate resistance at 1,610. However, persistent foreign selling and external uncertainties could limit upside potential. Investors are advised to remain selective, focusing on defensive and dividend-yielding stocks as market volatility persists.

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