Rakuten Trade vice-president of equity research Thong Pak Leng said key regional indices ended broadly higher, largely influenced by a tech-driven rally on Wall Street and optimism over a potential interest rate cut in the US.
He said investors were also awaiting fresh economic data after the delay in the US jobs report.
“As for the local bourse, we view today’s profit-taking as a healthy correction, allowing the market to consolidate its recent rally and build a stronger foundation for a more sustainable uptrend,” he told Bernama.
Meanwhile, IPPFA Sdn Bhd’s director of investment strategy and country economist Sedek Jantan said that despite profit-taking, foreign investors continued to register as net buyers for the second consecutive session.
He noted that consumer counters led gains, supported by the BUDI95 programme, which has bolstered household purchasing power and sustained domestic demand.
“The steady return of foreign inflows is particularly encouraging, underscoring Malaysia’s relative resilience, attractive valuations, and expectations of supportive fiscal measures,” said Sedek.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.74 points, or 0.16%, to 1,635.06 from yesterday’s close of 1,637.80.
The benchmark index opened 20.93 points firmer at 1,658.73, and fluctuated between 1,631.43 and 1,658.73 throughout the trading session.
Across the broader market, gainers marginally outpaced decliners 521 to 516, while 573 counters were unchanged, 964 were untraded, and 17 suspended.
Turnover declined to 4.03 billion units worth RM2.5 billion, compared with 4.27 billion units valued at RM3.92 billion yesterday.
Among the heavyweights, Maybank added two sen to RM10, Public Bank was three sen lower at RM4.34, CIMB gained eight sen to RM7.68, Tenaga Nasional slipped 18 sen to RM13.28, and IHH Healthcare shed 13 sen to RM8.13.
In active trading, Borneo Oil and Pharmaniaga were flat at 0.5 sen and 28 sen respectively, VS Industry shed three sen to 57 sen, SCIB increased 4.5 sen to 21 sen, while Zetrix AI eased 0.5 sen to 85 sen.
Top gainers included F&N, up 56 sen to RM27.80; LPI, up 36 sen to RM14.58; Hong Leong Industries, up 32 sen to RM14.20; United Plantations, up 32 sen to RM23.30; and Sam Engineering & Equipment, up 27 sen to RM4.55.
Top losers were Malaysian Pacific Industries, down 52 sen to RM31.22; KLK, down 34 sen to RM20.50; Allianz Malaysia, down 24 sen to RM18.50; Kluang Rubber, down 22 sen to RM5.55; and Tenaga, down 18 sen to RM13.28.
On the index board, the FBM Emas Index eased 9.03 points to 12,181.67, the FBM 100 Index reduced 11.78 points to 11,908.96, and the FBM Emas Shariah Index declined 28.30 points to 12,193.73.
The FBM 70 Index, however, gained 18.71 points to 17,090.20, while the FBM ACE Index increased 26.31 points to 5,347.12.
By sector, the industrial products and services index inched up 0.16 of-a-point to 174.35, the energy index improved 4.50 points to 787.66, while the plantation index shed 6.91 points to 7,796.64, and the financial services index added 23.58 points to 18,602.40.
Main Market volume expanded to 2.49 billion units valued at RM2.16 billion, versus 2.35 billion units worth RM3.49 billion yesterday.
Warrants turnover narrowed to 933.77 million units worth RM152.93 million, compared with 1.18 billion units valued at RM167.26 million yesterday.
The ACE Market volume decreased to 603.87 million shares valued at RM188.69 million, against 738.33 million shares worth RM259.22 million previously.
On the Main Market, consumer products and services counters accounted for 268.84 million shares traded, followed by industrial products and services (976.94 million), construction (88.29 million), technology (314.80 million), financial services (59.42 million), property (232.74 million), plantation (14.62 million), REITs (12.46 million), closed/fund (107,600), energy (266.04 million), healthcare (109.58 million), telecommunications and media (51.08 million), transportation and logistics (36.1 million), utilities (67.8 million), and business trusts (113,800).