Bursa Malaysia climbs as investors target undervalued bank and healthcare shares

The FTSE Bursa Malaysia KLCI ended the session up 5.34 points, or 0.33%, at 1,623.35, after opening 1.39 points weaker. Market breadth was negative, with more decliners than gainers, but turnover rose modestly to 3.60 billion units worth RM3.32 billion. Rakuten Trade Sdn Bhd’s equity research vice-president Thong Pak Leng said the recent correction has made valuations more appealing, supporting a gradual recovery focused on banking heavyweights and fundamentally sound blue-chip stocks.

He expects institutional support to cushion downside risks while foreign selling may limit the pace of gains. Leading banks such as CIMB Group, Maybank, Public Bank and RHB Bank posted small price increases, and IHH Healthcare also rose, reflecting the bargain-hunting trend.