KUALA LUMPUR: Bursa Malaysia closed marginally higher yesterday as gains in plantation counters were trimmed by profit-taking activities in selected index-linked financial services heavyweights.
At 5pm, the FBM KLCI was 1.19 points, or 0.075%, higher at 1,595.48 from last Friday’s close of 1,594.29.
The index opened 2.55 points higher at 1,596.84 and moved between 1,593.37 and 1,603.94 yesterday.
On the broader market, decliners led gainers 549 to 497 while 490 counters were unchanged, 879 untraded and 15 suspended. Turnover was reduced to 2.83 billion units valued at RM2.37bil versus 3.43 billion units valued at RM3.19bil last Friday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI traded within a narrow range as investors remained cautious due to foreign selling, which prevented the benchmark index from sustaining the 1,600 mark despite several attempts.
On the regional front, markets surged, led by China and Hong Kong, which recorded gains as China’s November manufacturing data exceeded expectations, supported by recent aggressive stimulus measures.
Thong noted that the United States was set to release the manufacturing Purchasing Managers’ Index (PMI) yesterday and the S&P Global Composite PMI tomorrow.
“Given the unexpected shift in local market sentiments, we recommend maintaining caution amid rising volatility.” — Bernama
