Bursa Malaysia Rebounds To Close Higher In Line With Regional Markets
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, June 16 (Bernama) -- Bursa Malaysia recovered its earlier losses to close marginally higher, supported by renewed optimism in the data centre segment and a sectoral rotation into defensive plays, as investors positioned cautiously amid heightened geopolitical tensions.
The rebound is in tandem with most regional markets performance, with investors anxiously awaiting several central banks' meetings this week, an analyst said.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.88 points, or 0.12 per cent, to 1,519.99 from last Friday's close of 1,518.11.
The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session.
Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended.
Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday's 2.88 billion units valued at RM2.06 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI performance today signalled continued resilience in Malaysia's domestic economy.
Gains were led by technology and utilities counters, particularly those with strong domestic exposure.
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