KUALA LUMPUR: Bursa Malaysia ended the day mixed, with the key index closing above the 1,600 level as bargain hunting lifted the market following a recent sell-off, as the broader market stayed negative.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 11.60 points, or 0.73 per cent, to close at 1,604.04, up from its previous close of 1,592.44.
Despite the rebound in the benchmark index, the broader market remained weak, with decliners outnumbering advancers 529 to 484, while 486 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said they remain cautious as the FBM KLCI remains in consolidation, showing no clear signs of an uptrend.
"The market appears to be trading sideways, with limited catalysts to spur a breakout. As such, we anticipate the benchmark index to trend within the range of 1,600-1,630 for the week," he said.