Bursa Malaysia’s benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.85 points or 0.63% over the week from Aug 3 to 7, ending at 1,735.75 on Friday compared with 1,724.90 at the close of the previous week, as a three-session rally through midweek was partly offset by profit-taking in the final two sessions.
The benchmark began the week cautiously before gaining momentum, with technology, financial and healthcare counters providing support as investors rotated into selected large-cap and defensive names. Improving sentiment over the possibility of easing tensions in West Asia further lifted risk appetite on Wednesday, pushing the index to its strongest daily gain of the week.
On Monday, the FBM KLCI edged up 0.83 points or 0.05% to 1,725.73 after opening at 1,725.26. The index slipped to an intraday low of 1,719.47 as regional markets weakened, but late buying in selected heavyweights helped it recover into positive territory.
Despite the marginal gain, market breadth remained weak, with decliners outnumbering gainers, suggesting that the advance was concentrated in selected heavyweight counters rather than reflecting broad-based buying.
The market strengthened on Tuesday, with the FBM KLCI climbing 6.93 points or 0.40% to 1,732.66. The index extended its winning streak to five sessions, supported by gains in technology stocks alongside financial and healthcare counters.
The session also reflected a degree of sector rotation, with investors favouring selected defensive and domestic-oriented names as sentiment across regional markets improved.
The strongest session came on Wednesday, when the FBM KLCI surged 15.51 points or 0.89% to 1,748.17. The index traded between 1,732.68 and 1,750.41 as investors responded positively to signs that tensions in West Asia could ease.
The broader market also advanced, with most key indices including the FBM Emas, FBM Top 100, FBM Mid 70 and FBM ACE closing higher. The rally brought the benchmark close to the upper end of the 1,740 to 1,760 range that analysts had identified as a likely trading band.
The rally then lost momentum on Thursday as investors took profits following six consecutive sessions of gains. The FBM KLCI opened at 1,749.65, its intraday high, before falling to a low of 1,733.38 and closing 11.02 points or 0.63% lower at 1,737.15.
Telecommunications and industrial counters came under pressure as investors locked in gains, while a broader regional sell-off also weighed on sentiment.
On Friday, the benchmark fell for a second straight session, slipping 1.40 points or 0.08% to 1,735.75. The index opened at 1,735.22 amid weaker Wall Street performance overnight and concerns over higher crude oil prices.
The decline remained relatively contained, however, allowing the FBM KLCI to preserve a 0.63% gain for the week.
Overall, Bursa’s performance during Aug 3 to 7 was positive but volatile, with the bulk of the gains concentrated in the three sessions leading up to Wednesday’s 0.89% jump. The late-week correction highlighted continued sensitivity to external factors, particularly Wall Street performance, oil prices and geopolitical developments.
The week’s performance also showed that while large-cap counters and selected sectors continued to provide support, market sentiment remained selective rather than uniformly bullish. Technology helped drive Tuesday’s advance, while financial services and healthcare added support, whereas telecommunications and industrial counters faced selling pressure during Thursday’s profit-taking session.
For the week as a whole, hopes of easing geopolitical tensions and improving regional sentiment provided the catalyst for the midweek rally, while profit-taking and renewed external pressures capped the gains towards the end of the week.
