Bursa Malaysia halts losing streak fuelled by banking heavyweights
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 1.30 points or 0.09 per cent to 1,502.74 from Thursday's close of 1,501.44.
The benchmark index opened 0.50 of-a-point lower at 1,500.94 and moved between 1,500.04 and 1,507.97 throughout the trading session.
However, the broader market remained weak, with 518 decliners outnumbering 319 gainers, while 505 counters were unchanged, 1,057 untraded and 25 suspended.
Turnover dropped to 2.60 billion units worth RM3.37 billion compared with Thursday's 2.81 billion units valued at RM1.69 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI remained broadly stable throughout the trading day.
He said the negative return reflects a volatile week shaped by rising geopolitical risks and cautious investor sentiment.
Volatility has increased meaningfully, with the VIX climbing three points to 20, up from 17 a week ago, highlighting global risk aversion.
Despite today's intraday rebound, the broader week-on-week performance underscores prevailing uncertainty in the market.
"Looking ahead, we anticipate trading to remain cautious next week as markets digest the latest signals from the Federal Open Market Committee.
"The Fed's updated projection - characterised by slower growth, elevated inflation and a higher unemployment trajectory for 2025-2027 - suggest a stagflationary undertone, which could weigh on risk appetite," he said.
Sedek added that growth-sensitive sectors may face headwinds as the policy outlook remains uncertain.
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