Bursa's key index closes flat with mixed performance across broader market

New Straits Times

9 hours ago

KUALA LUMPUR: Bursa Malaysia ended the session broadly flat today, reflecting a mixed sectoral performance across the broader market, said an analyst.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.2 points or 0.08 per cent to 1,550.19 from Thursday's close of 1,548.99.
The index opened 1.75 points higher at 1,550.74.
The broader market, however, was slightly positive with gainers outnumbering losers 489 to 466, while 509 counters were unchanged, 902 untraded and 22 suspended.
Turnover stood at 3.4 billion units worth RM2.47 billion compared with Thursday's 5.09 billion units valued at RM2.94 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the gains among benchmark constituents were led by consumer-related and industrial product counters.
He told Business Times that the buying interest was supported by sustained domestic demand and growing optimism in data centre-related industries, a theme increasingly prominent in Malaysia's digital infrastructure ambitions.
For the week, the FBM KLCI rose 1.2 per cent on a Friday-to-Friday basis.
Sedek said trading activity moderated slightly as it returns to average turnover levels suggests investors are adopting a more measured stance as they await clearer policy signals and external developments.
"Since June 26, foreign investors have resumed net buying of local equities, a constructive sign that reflects growing confidence in the country's macroeconomic trajectory and improving risk appetite for regional markets," he added.
Given that the Bursa Malaysia Technology Index has rebounded by over 10 per cent since its recent low on June 23, he continues to view the sector favourably.
This is supported by structural tailwinds from global tech investment and Malaysia's position within regional supply chain realignment.
He said a dovish policy outlook from the US Federal Reserve also offers potential upside through valuation re-rating for growth and semiconductor-related counters.
"We anticipate heightened caution and intermittent volatility ahead, as investors closely monitor the evolving landscape of global trade policy.
"Particular attention is centred on the US' 'Liberation Day' deadline of July 9, when elevated tariffs, ranging from 20 per cent to 30 per cent, are expected to be reinstated on countries without formalised bilateral trade deals.
"Malaysia, among others, may face renewed uncertainty should negotiations remain unresolved.
"President Trump has indicated that official notifications outlining new tariff rates will be issued imminently to affected trade partners," he added.