KUALA LUMPUR (March 18): Bursa Malaysia closed marginally higher on Monday as investors exercised caution before a series of significant central bank meetings this week, said an analyst. 

The markets are awaiting the US Federal Reserve (Fed) and the Bank of Japan’s (BOJ) decisions on interest rates.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.81 of a point to 1,553.64 from Friday’s (March 15) close of 1,552.83. 

The benchmark index, which opened 5.38 points weaker at 1,547.45, moved between 1,544.32 and 1,557.33 throughout the day. 

Market breadth was positive with gainers leading decliners 546 to 480, while 476 counters were unchanged, 805 untraded and 22 others suspended.

Turnover declined to 4.24 billion units worth RM2.79 billion from 4.53 billion units worth RM4.82 billion last Friday. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said most key regional indices closed in positive territory following Beijing's announcement on the key economic data for the first two months of 2024. 

He said Beijing's industrial output surged by 7% annually over January and February, alongside a 5.5% rise in retail sales compared to the previous year.

"On the domestic front, we prefer to stay cautious due to increasing global volatility and uncertainties. 

"Therefore, we anticipate the FBM KLCI to fluctuate within the 1,540-1,570 range for the week, with immediate resistance at 1,560 and support at 1,528," he said. 

Among the heavyweights, Maybank Bhd and CIMB Group Holdings Bhd added four sen to RM9.75 and RM6.65, respectively, Public Bank Bhd gained two sen to RM4.29, Petronas Chemicals Group Bhd fell four sen to RM6.86, and Tenaga Nasional Bhd was flat at RM11.60. 

As for the actives, Eversendai Corp Bhd inched up 2.5 sen to 34.5 sen, MyEG Services Bhd firmed a sen to 81.5 sen, YTL Corp Bhd advanced 14 sen to RM2.75, Sapura Energy Bhd edged up half a sen to five sen, and Pan Malaysia Holdings Bhd was flat at 18.5 sen. 

On the index board, the FBM Emas Index was 13.78 points firmer at 11,557.37, the FBMT 100 Index added 13.55  points to 11,218.85, the FBM ACE Index gained 8.06 points to 4,717.12, and the FBM 70 Index advanced 50.81 points to 15,715.45. 

However, the FBM Emas Shariah Index decreased by 27.59 points to 11,564.01. 

Sector-wise, the Financial Services Index surged 62.42 points to 17,339.05,  the Industrial Products and Services Index added 0.35 of a point to 177.24, and the Energy Index improved by 12.41 points to 928.41, while the Plantation Index dipped 6.91 points to 7,285.44. 

The Main Market volume narrowed to 2.83 billion units valued at RM2.5 billion from 2.87 billion units valued at RM4.5 billion last Friday.

Warrants turnover tumbled to 836.4 million units worth RM112.35 million from 1.09 billion units worth RM131.42 million previously.   

The ACE Market volume rose to 572.98 million shares worth RM177.51 million from 546.78 million shares worth RM184.68 million previously.

Consumer products and services counters accounted for 298.25 million shares traded on the Main Market, industrial products and services (386.15 million); construction (321.18 million); technology (839.6 million); SPAC (nil); financial services (106.23 million); property (362.24 million); plantation (41.99 million); REITs (7.60 million), closed/fund (64,000); energy (186.04 million); healthcare (44.2 million); telecommunications and media (52.1 million); transportation and logistics (60.46 million); and utilities (125.01 million).