PETALING JAYA: The FBM KLCI ended marginally higher on Thursday after giving up most of its intraday gains, while weakness in the broader market underscored cautious investor sentiment.
The FBM KLCI surrendered most of its intraday gains to finish just 1.4 points, or 0.08%, higher at 1,711.39. The benchmark index traded within an 11.3-point range between a session low of 1,711.31 and a high of 1,722.63.
A market observer said the close suggested a “mildly positive investor sentiment.”
“While the market ended higher, the modest gain indicates that investors remained cautious rather than strongly bullish.
“The positive finish shows that buying interest was sufficient to keep the index in positive territory, but the small increase suggests a lack of strong conviction among market participants.”
Overall, he said the close points to a cautiously optimistic outlook, with investors appearing willing to maintain exposure to equities while awaiting further economic, corporate, or market catalysts, before taking more decisive positions.
In the broader market, decliners outnumbered advancers 678 to 493, resulting in a market breadth ratio of 0.73, suggesting that sellers continued to hold the upper hand. About 4.5 billion shares, valued at RM3.46bil, changed hands.
Dealers said the market’s muted performance reflected a cautious stance among investors, with profit-taking capping gains despite positive regional cues.
They noted that buying interest remained selective, as broader market weakness pointed to a lack of conviction among investors.
Among the gainers, Hong Leong Industries Bhd
added 66 sen to RM19.14, Petronas Dagangan Bhd gained 36 sen to RM18.64 and KLCC Property Holdings Bhd climbed 32 sen to RM9.38.
Technology and semiconductor-related stocks were among the losers on Bursa Malaysia. Malaysian Pacific Industries Bhd lost 74 sen to RM48.56, Unisem (M) Bhd fell 17 sen to RM4.62 and Vitrox Corp Bhd declined 13 sen to RM7.49.
Other decliners included Nestle (Malaysia) Bhd gave up RM1.66 to RM95.14, Paragon Union Bhd fell 58 sen to RM1.71 and Concrete Engineering Products Bhd declined 45 sen to RM3.71.
ACE Market debutant Sum Technology Bhd closed up 24.5 sen, or 87.5% to 52.5 sen with 193.7 million shares traded.
In the currency market, the ringgit fell 1.27% against the greenback to 4.1157, while easing 0.68% against the Singapore dollar to 3.1901.
