Bursa Malaysia Closes Flat With Key Index Slightly Down

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, May 26 (Bernama) -- Bursa Malaysia closed flat on Monday with the key index down slightly, weighed by selling in telecommunication counters.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.08 points, or 0.07 per cent, to 1,534.30 from Friday’s close of 1,535.38.

The benchmark index opened 0.95 of a point higher at 1,536.33, and fluctuated between 1,528.93 and 1,537.27 throughout the day.

In the broader market, decliners thumped gainers 595 to 338, with 478 counters unchanged, 1,019 untraded and 42 suspended.

Turnover improved to 3.12 billion units worth RM1.63 billion compared with Friday’s 2.72 billion units worth RM2.17 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trimmed earlier losses on the back of late buying interest, especially in banking counters.

“Markets across the region saw mixed results following US President Donald Trump's tariff rhetoric over the weekend, where he first threatened and later walked back on plans for increased European tariffs. Meanwhile, technology stocks came under selling pressure after Trump floated a 25 per cent tariff on iPhones and other smartphone imports,” he told Bernama.

Thong said the benchmark index of the local bourse remains range-bound amid a lack of catalysts.

“A decisive move above the 1,550–1,560 level is necessary to shift sentiment positively. For now, we expect the FBM KLCI to trade between 1,520 and 1,550 through the week,” he added.

Among heavyweight stocks, Maybank rose four sen to RM9.92, while Public Bank and IHH Healthcare added one sen each to RM4.41 and RM6.91, respectively. CIMB gained two sen to RM6.96, while Tenaga was flat at RM14.

Among active stocks, Sapura Energy, OCR Group and Harvest Miracle were unchanged at four sen, 3.5 sen and 18 sen, respectively, while Tanco Holdings added 2.5 sen to RM1 and Eco Shop fell four sen to RM1.16.

--BERNAMA