Bursa Malaysia bucks weaker regional trend, ends firmer on broad-based buying
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.33 per cent or 5.28 points to 1,590.24 from 1,584.96 previously.
Market breadth was positive, with 503 gainers edging out 490 losers, while 509 counters remained unchanged.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said FBM KLCI continued its upward momentum, climbing to 1,594 before the mid-day recess, then consolidating and hovering near the 1,590 level in the afternoon.
He said the index's resilience at higher levels reflects firm domestic sentiment, bolstered by renewed institutional inflows into equities.
"Capital flow data indicates that local institutions are rebalancing towards domestic-oriented sectors, with property and consumer counters continuing to attract interest as investors position for resilient household demand and an improving domestic growth cycle," he added.
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