Bursa Rebounds as Late Buying Offsets Profit-Taking

KUALA LUMPUR, — Bursa Malaysia closed higher on Friday, rebounding from earlier losses as late-session buying in selected heavyweights helped offset profit-taking activity.

Market Performance

At the closing bell, the FBM KLCI gained 5.21 points, or 0.35%, to finish at 1,585.37 after moving between 1,576.20 and 1,587.40 throughout the day.

Market breadth was positive, with gainers outpacing losers by 512 to 397, while 465 counters remained unchanged. Trading volume stood at 3.12 billion shares valued at RM2.06 billion.

Sector Highlights

• Banking stocks rebounded strongly, led by Maybank and Public Bank.
• Telecommunications and utilities counters attracted bargain-hunting following recent sell-offs.
• Energy and plantation sectors remained mixed amid global commodity price uncertainties.

Analysts’ Commentary

Rakuten Trade Sdn Bhd noted that investors remained cautious ahead of US inflation data but said renewed foreign interest in blue chips supported the late recovery.

“The market showed resilience, with selective accumulation in banking and telco counters helping to reverse earlier profit-taking pressure,” the firm said in a note.

Meanwhile, MIDF Research added that external headwinds — including concerns over global interest rate trends and regional fund flows — could keep volatility elevated in the near term.

Outlook

Investors will continue to monitor:

• US inflation and Federal Reserve policy direction.
• Regional market performance and China’s economic stimulus measures.
• Corporate earnings season in Malaysia.

“Short-term volatility is expected, but the underlying market remains supported by strong domestic liquidity and government-linked investment flows,” said a senior strategist at IFCCI Research.