KUALA LUMPUR: Bursa Malaysia closed mixed on Monday as late-session selling pushed the broader market deeper into the red.
The FTSE Bursa Malaysia (FBM) KLCI added 0.3 per cent or 4.79 points to 1,596.20 versus Friday's close of 1,591.41.
The key index moved between 1,592.57 and 1,601.90 throughout the trading session today.
Losers led gainers in the broader market 545 to 390 while 565 counters were unchanged.
On the index board, FBM Emas rose 0.21 per cent to 12,248.98, FBM 100 gained 0.22 per cent to 11,934.71 while FBM Ace shed 0.41 per cent to 5,247.27.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said despite today's positive performance, the local benchmark index continued to face strong resistance, hindered by ongoing foreign selling.
Thong said the FBM KLCI is likely to consolidate at current levels temporarily, awaiting new catalysts for upward movement.
"A clear and sustained break above the 1,620 mark is necessary to regain a bullish trajectory. Trading activity is expected to slow down over the next two weeks with the upcoming Christmas and New Year holidays."
"As such we anticipate the FBM KLCI to trend within the range of 1,590-1,610 for the week with immediate support at 1,585 and resistance at 1,620," he said in a note.