Bursa Malaysia ended the June 29 to July 3 trading week on a firmer note, with the FBM KLCI recovering from three consecutive days of losses to close at 1,679.05 on Friday, delivering a 0.7% weekly gain as banking stocks and selected heavyweight counters led the rebound.
The benchmark began the week under pressure, slipping to 1,665.91 on June 29 before easing further to 1,664.06 on June 30 as profit-taking and cautious investor sentiment weighed on heavyweight stocks.
Selling extended into Wednesday, July 1, with the FBM KLCI closing at 1,656.83, down 0.43%, after trading between 1,655.28 and 1,668.78 during the session.
Momentum shifted over the final two trading days as bargain hunting returned to the market. Buying interest in banking stocks and selected blue-chip counters helped the benchmark record back-to-back gains on July 2 and July 3, with the index touching an intraday high of 1,682.62 before settling at 1,679.05.
The recovery was supported by easing expectations of further US interest rate hikes, a broader rally across regional equity markets and improving investor risk appetite throughout Asia.
Despite the rebound, market breadth remained mixed during several sessions, suggesting that buying was largely concentrated in heavyweight stocks while selling pressure persisted across parts of the broader market.
Investors also continued monitoring foreign fund flows and the absence of strong domestic catalysts, both of which had contributed to the market’s weakness earlier in the week.
Overall, Bursa Malaysia’s performance reflected a cautious recovery rather than a broad-based rally, with banking stocks and a handful of heavyweight counters accounting for much of the benchmark’s gains as investors remained selective in their positioning.
