KUALA LUMPUR: Bursa Malaysia ended the week on a higher note, supported by optimism related to 2025 Budget (Belanjawan 2025) and broad-based buying activity.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.55 points or 0.27 per cent to 1,645.99 from Thursday's close of 1,641.44.
The benchmark index began the trading session at 1,643.29, up by 1.85 points, and fluctuated between 1,641.71 and 1,649.31 during the day.
On the broader market, advancers outnumbered decliners 598 to 396, while 556 counters remained unchanged.
Turnover declined to 2.52 billion units worth RM2.16 billion versus 2.68 billion units valued at RM2.45 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets also posted gains as investors reacted positively to China's robust economic data and the announcement of new stock buyback program details from its central bank.
He added that locally, investors will continue to evaluate the potential impacts of the newly tabled budget.
Thong noted that the benchmark index is still consolidating with a slight bullish shift, as the price has recently moved above the 20-day exponential moving average (EMA).
"While the moving average convergence divergence (MACD) remains in bearish territory, it hints at a possible crossover, which could indicate the start of a new bullish phase if buying interest persists."
"Hence, we expect the benchmark index to retain its sideways consolidation, with a slight bullish tendency next week, likely to trade between 1,645 and 1,665," he told Business Times.
He said moving forward, investors should wait for a decisive breakout above 1,650 for further upward potential.