Bursa Malaysia ended the week slightly higher, with the FBM KLCI gaining 6.06 points or 0.36% to 1,671.62 as bargain hunting in banks and selected blue chips helped offset pressure from higher oil prices, US Treasury yields and geopolitical uncertainty.
The benchmark began the week with a 1.38-point or 0.08% gain on Monday to 1,666.94, snapping a three-session losing streak as investors picked up selected heavyweights.
The rebound came despite losers outnumbering gainers 532 to 480, with turnover reaching 1.97 billion units worth RM1.26 billion. Banking stocks and renewable-energy counters provided some support.
The market then staged its strongest session of the week on Tuesday, with the KLCI surging 16.56 points or 0.99% to 1,683.50. Strong buying in banking, semiconductor and technology stocks lifted the benchmark alongside broader regional gains.
CIMB, IHH Healthcare and Hong Leong Bank were among the notable gainers as investors positioned ahead of the expected meeting between US President Donald Trump and Chinese President Xi Jinping.
The rally quickly lost momentum on Wednesday, however, with the KLCI falling 7.07 points or 0.42% to 1,676.43 as investors took profits in selected heavyweights and weaker oil prices weighed on petrochemical counters.
The index slipped another 4.12 points or 0.24% on Thursday to 1,672.31, with rising oil prices and elevated global bond yields keeping investors cautious. Last-minute selling pushed the benchmark lower despite intermittent buying in selected counters.
Telecommunications and media stocks led sectoral losses, falling 2%, followed by technology stocks which declined 1.8%.
The selling continued into Friday, although the KLCI ended almost flat, easing 0.69 points or 0.04% to 1,671.62. The index had opened 2.56 points higher at 1,674.87 but failed to hold its gains as US Treasury yields and tensions in West Asia weighed on sentiment.
Losers outnumbered gainers 506 to 474, while turnover stood at 2.01 billion shares worth RM1.25 billion.
The week’s 0.36% gain marked a modest recovery after the KLCI fell 1.25% in the previous week. The benchmark remained below the 1,680 level, with investors continuing to monitor US rate expectations, oil prices and foreign fund flows for direction.
The Federal Reserve’s 25-basis-point rate hike to 3.75% to 4% also kept pressure on emerging-market equities, while oil prices above US$105 a barrel raised concerns over inflation and corporate costs.
