KUALA LUMPUR: Bursa Malaysia closed mixed on Friday, driven by bargain-hunting and positive regional market sentiment.
At 5:00 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 0.07 per cent to 1,589.78, marking a 1.1 points increase from the previous close of 1,588.68.
The broader market remained weak, with 553 decliners outnumbering 479 gainers, while 509 counters were unchanged.
Rakuten Trade Sdn Bhd's equity research vice president Thong Pak Leng said he holds a cautious outlook, reckoning that the benchmark index will likely maintain a sideways trend in the coming week, with a slight upward bias.
"Support for the FBM KLCI is expected at 1,585 followed by 1,535.
"We are hoping for a breakout from this line, if not the benchmark index will further consolidate along it for a short period pending for new catalysts and anticipate the FBM KLCI to trend within the range of 1,585-1,610 for next week," he said.