The benchmark FTSE Bursa Malaysia KLCI rose 0.1 per cent to 1,691.38 points. The index is up 1.2 per cent this week and down by a mere 0.1 per cent in 2016.

Dealers gave two reasons for the lacklustre trade: One, investors wanted to wait to see the outcome of the European Central Bank policy review late yesterday. Two, the KLCI was nearing important technical levels in the 1,690 to 1,700 region.

Sia Ket Ee, an analyst with Hong Leong Investment Bank, told the Nikkei Asian Review (NAR): “We remain cautiously optimistic that the index will eventually break the 1,700 psychological barrier.

“On the flip side, a breakdown below 1,681 levels will see the index retracing back towards 1,656- 1,665 support zones.”

Meanwhile, the European Central Bank has since announced that it will keep its stimulus programme unchanged. This shows that policymakers don’t see an immediate danger to the euro-area recovery from risks including Britain’s decision to leave the European Union.

The Nikkei Asian Review report said the ringgit rose 0.4 per cent to 4.04 against the dollar.

On the KLCI, 12 of the 30 constituents ended higher Thursday and nine closed unchanged, while overall advancing issues outnumbered declining ones 402 to 374.

Foreign investors sold RM9.7 million in Malaysian shares on Wednesday, according to Kenanga Research. Overseas investors have pumped RM2.5 billion into the nation’s equity markets so far this year.

SapuraKencana advanced 2.6 per cent to RM1.61, supported by higher crude prices while KLCC Property Holdings closed 2.6 per cent higher at RM7.83, leading gains on the KLCI.

Malaysia’s third-largest palm oil producer Kuala Lumpur Kepong advanced 0.4 per cent to RM23.90, while IOI Corporation rose 0.7 per cent to RM4.48.

Westports Holdings ended lower for a second session, declining 0.7 per cent to RM4.42 . Still, the stock is half a percent higher for the week, according to the NAR report.