KUALA LUMPUR: Bursa Malaysia pared earlier losses to close slightly higher yesterday, as investors continued to adopt a measured, opportunistic approach rather than broad-based risk aversion ahead of the Chinese New Year (CNY) holidays.
The market is closed today and tomorrow for the CNY holidays.
At 5pm, the FBM KLCI gained 1.72 points, or 0.10%, to 1,741.26, compared with last Friday’s close of 1,739.54.
The benchmark index had opened 1.12 points higher at 1,740.66, and moved between 1,733.06 and 1,743.01 throughout the trading session.
The broader market was positive, with gainers edging out losers 528 to 464, while 547 counters remained unchanged.
A total of 1,198 counters remained untraded, and 11 were suspended.
Turnover was lower at 1.81 billion units, worth RM1.81bil, compared to 2.43 billion units, worth RM2.6bil, on last Friday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said selling pressure in the early session was gradually absorbed by selective accumulation in the afternoon, allowing the index to close in positive territory.
He said the intraday recovery indicates that downside risks remain contained, with traders taking a cautious yet selective stance, favouring opportunistic moves over broad-based risk aversion.
“Overall market activity was subdued, with trading volume falling below two billion shares, reflecting thinner liquidity ahead of the CNY holiday period across regional markets.
“The modest upside in the index was therefore driven more by stabilisation and stock-specific positioning than by strong conviction buying,” he told Bernama.
Among the heavyweights, Malayan Banking Bhd was 12 sen lower at RM11.94, CIMB Group Holdings Bhd
fell eight sen to RM8.38, IHH Healthcare Bhd slipped one sen to RM8.82, Public Bank Bhd inched up one sen to RM5.05, and Tenaga Nasional Bhd (TNB) added 46 sen to RM14.42.
Other top gainers were Petronas Gas Bhd, which rose 38 sen to RM18.60, Dutch Lady Milk Industries Bhd advanced 32 sen to RM33.28, Nestle (Malaysia) Bhd was 30 sen higher at RM109.30, and Knusford Bhd bagged 26 sen to 67.5 sen.
On the most active list, Hong Seng Consolidated Bhd gained half a sen to one sen, Zetrix AI Bhd inched up five sen to 85 sen, Tanco Holdings Bhd gained two sen to RM1.43, 99 Speed Mart Retail Holdings Bhd fell 22 sen to RM3.73, and Pharmaniaga Bhd was half a sen higher at 31 sen.
