Bursa Malaysia Pares Earlier Losses To Close Slightly Higher Ahead Of CNY Holidays

By Danni Haizal Danial Donald

KUALA LUMPUR, Feb 16 (Bernama) -- Bursa Malaysia pared earlier losses to close slightly higher on Monday, as investors continued to adopt a measured, opportunistic approach rather than broad-based risk aversion ahead of the Chinese New Year (CNY) holidays.

The market is closed on Feb 17 and Feb 18 for CNY holidays.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.72 points, or 0.10 per cent, to 1,741.26, compared with Friday’s close of 1,739.54.

The benchmark index had opened 1.12 points higher at 1,740.66, and moved between 1,733.06 and 1,743.01 throughout the trading session.

The broader market was positive, with gainers edging out losers 528 to 464, while 547 counters remained unchanged. A total of 1,198 counters remained untraded, and 11 were suspended.

Turnover was lower at 1.81 billion units, worth RM1.81 billion, compared to 2.43 billion units, worth RM2.6 billion, on Friday.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said selling pressure in the early session was gradually absorbed by selective accumulation in the afternoon, allowing the index to close in positive territory.

He said the intraday recovery indicates that downside risks remain contained, with traders taking a cautious yet selective stance, favouring opportunistic moves over broad-based risk aversion.

“Overall market activity was subdued, with trading volume falling below two billion shares, reflecting thinner liquidity ahead of the CNY holiday period across regional markets.

“The modest upside in the index was therefore driven more by stabilisation and stock-specific positioning than by strong conviction buying,” he told Bernama.

Among the heavyweights, Maybank was 12 sen lower at RM11.94, CIMB fell eight sen to RM8.38, IHH Healthcare slipped one sen to RM8.82, Public Bank inched up one sen to RM5.05, and Tenaga Nasional added 46 sen to RM14.42.

Besides Tenaga Nasional, other top gainers were Petronas Gas, which rose 38 sen to RM18.60, Dutch Lady Milk advanced 32 sen to RM33.28, Nestle was 30 sen higher at RM109.30, and Knusford bagged 26 sen to 67.5 sen.

On the most active list, Hong Seng gained half a sen to one sen, Zetrix AI inched up five sen to 85 sen, Tanco gained two sen to RM1.43, 99 Speed Mart fell 22 sen to RM3.73, and Pharmaniaga was half a sen higher at 31 sen.

Joining 99 Speed Mart as top losers were United Plantations, which lost 36 sen to RM29.82, Allianz Malaysia slipped 24 sen to RM22.26, Alliance Bank was 22 sen lower to RM5.07, and Hong Leong Bank dipped 16 sen to RM23.96.

-- BERNAMA