BURSA Malaysia ended the week on a flattish note following a roller coaster session due to foreign buying during the last minutes of trading, said an analyst.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.02 or 0.38-of-a-point higher at 1,591.26 from 1,590.88 at Thursday’s close.
After opening 2.80 points better at 1.593.68, the market bellwether moved between 1,583.25 and 1,594.76 throughout the trading session.
On the broader market, losers outnumbered gainers 468 to 425, while 448 counters were unchanged, 980 untraded and 45 others suspended.
Total turnover decreased to 3.33 billion units valued at RM5.70 bil from 3.34 billion units worth RM3.71 bil on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets trended mixed as investors were cautious ahead of a telephone call between US President Joe Biden and his Chinese counterpart Xi Jinping on Friday to resolve the Russia-Ukraine conflict.
“Back home, we prefer to stay cautious over the short term due to the heightened regional market volatility,” he said.
Meanwhile, Bursa heavyweights Maybank increased 4 sen to RM9.02, Public Bank added 6 sen to RM4.69, and Tenaga Nasional recovered 34 sen to RM9.42.
Petronas Chemicals and IHH Healthcare slid 2 sen each to RM9.40 and RM6.37 respectively and CIMB dipped 12 sen to RM5.36 while Press Metal was flat RM6.35
Of the actives, Sime Darby Property fell 2 sen to 56 sen, while XOX and AT Systematization were both flat at 2 sen respectively. – March 18, 2022
