KUALA LUMPUR: Bursa Malaysia closed mixed at midday as the key index clawed back on to positive territory, while the broader market stayed decidedly in the red, along with regional markets.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.25 points to 1,654.7 from last Friday's close of 1,653.12.
Loserd led gainers, 719 to 232 with 384 counters traded unchanged on the Bursa Malaysia.
Turnover was at 1.968 billion shares valued at RM1.988 billion.
Hong Leong Investment Bank Bhd said the FBM KLCI could extend profit-taking consolidation in the near-term, taking cues from the choppy external markets.
"Barring major breakdown below crucial support levels at 1,660 (Aug 20 high) and 1,638 (July 17 high), we remain optimistic that the benchmark could creep higher to 1,691 and 1,710 territory after a healthy pullback."
"Downside is likely to be cushioned by positive domestic economic outlook and stable corporate earnings, strong foreign direct investment (FDI) commitments, perceived political stability and progressive domestic reform initiatives, ringgit appreciation, Fed's pivot, coupled with increased risk appetite by foreigners," it said in a note.
Among the heavyweights, Malayan Banking Bhd and CIMB Bank Bhd each gained six sen, to RM10.86 and RM8.22 respectively, while Public Bank Bhd advanced four sen to RM4.79.
However, Tenaga Nasional Bhd was down two sen at RM14.70, and Hong Leong Bank Bhd lost 12 sen to RM20.98.99 Speed Mart led the active counters, rising 26 sen to RM1.91.
Pegasus Heights stayed flat at half-a-sen, while Velesto Energy Bhd decreased by one sen to 18 sen.
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