KUALA LUMPUR: Bursa Malaysia traded within a narrow range and ended the day lower, indicating a lack of strong buying interest.
Investors appeared to take a step back to evaluate the specifics of the 2025 Budget amid muted trading conditions.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 0.31 of a point, or 0.02 per cent to 1,645.68 from Friday's close of 1,645.99.
The benchmark index began the day with a slight increase, opening 0.72 points higher at 1,646.71.
On the broader market, decliners outnumbered advancers 645 to 395, with 519 counters unchanged.
Turnover increased to 3.02 billion units, valued at RM2.19 billion, compared to 2.52 billion units worth RM2.16 billion the previous Friday.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said regional markets also closed mostly lower as investors approached the week cautiously.
He said this was due to several major US and Asian earnings reports looming and the need for more clarity on interest rate direction from key economies.
Thong also noted that the US elections continue to impact the stock market by influencing policy outlooks, increasing volatility, reflecting historical performance patterns, triggering immediate post-election movements, and leading to long-term effects based on the economic agenda of the new administration.
"On the domestic front, the benchmark index may continue trading sideways, influenced by global uncertainties and geopolitical risks.
"Investors are advised to exercise caution and be prepared for a breakout if new market-driving events occur," he told Business Times.
As such, Thong expects the FBM KLCI to remain its sideway pattern with an upside bias trending within the range of 1,640-1,660 for the week.