KUALA LUMPUR: Bursa Malaysia closed 0.47 per cent higher today as investors shifted their focus to large-cap stocks while tracking key regional indices.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 7.44 points to 1,585.59 from last Thursday’s close of 1,578.15.
The index began the session 3.07 points firmer at 1,581.22, and was traded between 1,579.57 and 1,587.16 during the morning session.
In the wider market, gainers beat decliners 548 to 434, while 524 counters were unchanged, with 1,062 untraded and eight suspended.
Turnover declined to 2.15 billion units worth RM1.94 billion from 2.32 billion units worth RM2.30 billion last Thursday.
The local bourse was closed on Friday for the Maulidur Rasul holiday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the optimism was buoyed by softer United States payroll data that strengthened expectations of a September US interest rate cut.
“Investors stayed upbeat on expectations of a Fed rate cut of at least 25 basis points at the September 16-17 policy meeting, even as attention this week centred on crucial US consumer inflation readings,” he told Bernama.
Thong added that for the local bourse, the benchmark index regained the 1,585 level and is now attempting to reverse the downtrend seen from late 2024 to early 2025.
“However, trading volume has remained relatively subdued, suggesting that while the technical setup is constructive, stronger participation from investors will be essential to sustain momentum and validate the uptrend.
“Hopes are that this emerging uptrend will entice more participants into the market, boosting volume and reinforcing the rally,” he said.
The benchmark index is anticipated to trend within the range of 1,570-1,600 for the week.
© New Straits Times Press (M) Bhd
