Bargain Hunting Lifts FBM KLCI To Near 1,700-Level Despite Regional Weakness

Bursa Malaysia closed higher on June 5, with bargain hunting in selected blue-chip stocks helping the benchmark index rebound from recent losses despite weaker sentiment across regional markets.

The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.17 points, or 0.6%, to 1,693.43, after trading between 1,684.36 and an intraday high of 1,698.53.

The broader market, however, delivered a mixed performance, with the FBM Emas gained 40.54 points, or 0.32%, to 12,602.06, while the F4GBM advanced 3.89 points (0.38) to 1,018.05. However, the FBM 70 fell 66.35 points (0.36) to 18,299.60, and the FBM Shariah slipped 2.50 points (0.02%) to 12,570.15.

Trading activity eased, with turnover declining to 3.41 billion shares worth RM3.04 billion compared to 3.47 billion shares valued at RM3.58 billion in the previous session.

Among the most actively traded stocks, Hong Seng Consolidated Bhd was unchanged at one sen after more than 202.7 million billion shares changed hands. Zetrix AI Bhd closed flat at 82.5 sen with 92.3 million shares traded.

CBH Engineering Holding Bhd was the standout among active counters, climbing six sen to 68 sen on volume of around 63 million shares, while GIIB Holdings Bhd ended unchanged at 47 sen with 49.3 million shares traded. Pharmaniaga Bhd fell 1.5 sen to 27.5 sen, with turnover reaching 45.8 million shares.

The positive close suggests investors continued to selectively accumulate oversold blue-chip counters, providing support to the local benchmark even as sentiment across the broader market and regional bourses remained cautious.

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