KUALA LUMPUR, Dec 20 — Bursa Malaysia is likely to consolidate its recent gains and trade within a narrow range next week as investors unwind tactical positions after this week’s strong performance.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan noted that the benchmark index has risen 61.43 points, or 3.83 per cent month-to-date, including a 1.72 per cent gain this week, making December a comparatively stronger month for local equities. 

“While domestic funding conditions remain stable, turnover may ease due to shorter trading sessions ahead of the Christmas break and year-end holidays, keeping volumes below the three-billion-share average.

“With several domestic releases scheduled, including Malaysia’s November Consumer Price Index (CPI) on Monday, the market may show a softer bias as investors reassess positioning into the final weeks of the year,” he told Bernama.

To recap, Bursa Malaysia ended the week sharply higher, advancing to an almost 15-month high and eclipsing the 1,660.09 level set on Sept 27, 2024, supported by improving domestic sentiment ahead of year-end portfolio rebalancing.

Earlier, on Dec 15, the benchmark index reached a 14-month high of 1,643.72, surpassing the 1,642.54 level recorded on Oct 22, 2024.

On a Friday-to-Friday basis, the FBM KLCI rose 28.09 points to 1,665.90 from last week’s 1,637.81.

On the index board, the FBM Emas Index gained 159.05 points to 12,233.08, the FBMT 100 Index increased 167.45 points to 12,030.75, the FBM Emas Shariah Index climbed 116.50 points to 12,025.70, the FBM 70 Index added 76.52 points to 16,813.19, and the FBM ACE Index put on 56.69 points to 4,814.88.

By sector, the Financial Services Index jumped 340.05 points to 19,561.75, the Plantation Index surged 139.89 points to 8,291.16, the Energy Index added 1.19 points to 768.98, and the Industrial Products and Services Index edged up 1.22 points to 170.39.

Weekly turnover declined to 12.77 billion units worth RM12.07 billion from 15.95 billion units worth RM11.27 billion a week earlier.

The Main Market volume decreased to 6.85 billion units worth RM10.95 billion versus 7.07 billion units worth RM9.76 billion previously.

Warrants turnover dwindled to 4.45 billion units valued at RM566.59 million against 7.06 billion units valued at RM904.42 million a week ago.

The ACE Market volume slipped to 1.47 billion units valued at RM544.20 million from 1.81 billion units valued at RM590.79 million last week. — Bernama