Bursa Malaysia edges higher as investors eye cheaper blue-chip valuations
Bursa Malaysia's main index inched up 0.03% to 1,630.87, with modest gains amid broader Asian market weakness.
In Kuala Lumpur, equity research vice-president Thong Pak Leng of Rakuten Trade Sdn Bhd projected that the FTSE Bursa Malaysia KLCI will likely hover between 1,620 and 1,650 in the coming week, with the 1,620 zone serving as a key support level. He added that a breakout above 1,650 could set the stage for a climb toward 1,660, though a lasting rally would depend on easing bond yields, stable crude oil prices, and stronger buying from index-heavy stocks.
The market experienced early profit-taking and selling pressure, followed by a sharp sell-off that created oversold conditions and prompted bargain hunting. Over the last trading week, the KLCI dropped 40.75 points to close at 1,630.87, while related indices such as the FBM Emas, Top 100, and Energy also posted declines. Weekly turnover rose modestly to 17.39 billion units worth RM14.42 billion.
