From Malay Mail · · 1m 30s
Malaysia's stock market edges up despite global headwinds
Bursa Malaysia's benchmark index gained modestly on September 17 as bargain hunters bought blue-chip stocks, but geopolitical risks and oil prices kept gains limited.
In brief
Bursa Malaysia's benchmark index gained modestly on September 17 as bargain hunters bought blue-chip stocks, but geopolitical risks and oil prices kept gains limited. The Malaysian stock market is treading water, with investors selectively buying quality stocks at lower prices while remaining cautious about broader…
Malaysia's market edges higher
The FTSE Bursa Malaysia KLCI gained 1.0 point to 1,680.21 on September 17, a modest 0.06 percent increase after falling 1.11 percent the previous day.
Bargain hunters drive gains
Investors bought fundamentally sound blue-chip stocks that had been sold down, supporting the market despite negative overall breadth with 309 losers versus 241 gainers.
Geopolitical risks weigh down
Geopolitical tensions and elevated oil prices remain key headwinds limiting the market's upside potential, according to Rakuten Trade equity research.
Trading range stays narrow
Analysts expect the index to trade between 1,670 and 1,690 points today, reflecting cautious investor sentiment and limited conviction in either direction.
“We expect the index to trade within the 1,670-1,690 range today”
Blue-chips show mixed moves
Maybank and Tenaga Nasional gained, while CIMB fell slightly. Public Bank rose three sen to 4.83 ringgit as heavyweight stocks saw selective buying.
Sector performance diverges
The Financial Services Index advanced 19.52 points while the Plantation Index fell 37.06 points, showing uneven sector rotation amid market uncertainty.
Trading volume stays modest
Turnover reached 390.15 million shares worth 201.32 million ringgit, reflecting cautious trading as investors await clarity on geopolitical developments.
The one thing
The Malaysian stock market is treading water, with investors selectively buying quality stocks at lower prices while remaining cautious about broader economic pressures.
