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Bursa Malaysia ends mixed as bargain-hunting supports key index 

KUALA LUMPUR: Bursa Malaysia closed mixed as the key index was supported by bargain hunting activities in energy, telecommunication, plantation and banking stocks. 

At 5pm, FTSE Bursa Malaysia (FBM) KLCI was up 0.29 per cent or 4.61 points to 1,615.08 versus Monday's close of 1,610.47. 

The key index moved between 1,609.70 and 1,619.05 range today. 

In the broader market, decliners led gainers 497 to 489 while 512 counters were unchanged. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI mirrored key regional indices which trended higher with buying mainly on tech stocks following positive cue from Wall Street overnight. 

Additionally, there are hopes that geopolitical tensions in the Middle East will not worsen. 

He added while Malaysian equities experience short-term downward pressure, strong economic fundamentals, continuous foreign direct investment, improving economic indicators, and attractive valuations are expected to attract bargain hunters in the near future. 

"While market sentiment has shown some improvement, we are cautious and acknowledge varying investor expectations. 

"Hence, we expect the benchmark index to remain in consolidation stage and trend between 1,610-1,630 for the rest of the week," said Thong.

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