KUALA LUMPUR, Dec 12 — Bursa Malaysia struggled to maintain its positive momentum for most of the day and closed slightly lower today on late selling, despite the upbeat regional market performance.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.12 points or 0.07 per cent to 1,602.08 from yesterday’s close of 1,603.20.

The index opened 1.37 points lower at 1,601.83 and moved between 1,597.12 and 1,605.95 throughout the day.

Market breadth was negative as decliners trounced advancers 548 to 466, while 541 counters were unchanged, 923 untraded and 39 suspended.

Turnover rose to 3.32 billion units valued at RM2.53 billion versus 2.59 billion units valued at RM2.46 billion yesterday.

UOB Kay Hian Wealth Advisors’ head of investment research Mohd Sedek Jantan said the FBM KLCI’s minor movement suggests that investors may be repositioning their portfolios or refraining from significant trades, given the absence of clear market catalysts.

“The prevailing neutral or cautious sentiment is likely influenced by broader uncertainties,” he told Bernama.

He said yesterday’s US inflation data hinted at the possibility of the US Federal Reserve (Fed) cutting interest rates in its meeting next week.

“However, investors appear more inclined to wait for confirmation after the Fed’s announcement rather than engage in speculative activity.

“This contrasts sharply with North Asia and Greater China, where composite indices traded higher, supported by improved sentiment surrounding US-China relations,” he added.

The November US CPI stood at 2.7 per cent, up from 2.6 per cent in the previous month. The Core CPI held steady at 3.3 per cent for three consecutive months, from 3.2 per cent in August, indicating that the inflation rate remained persistent.

Mohd Sedek said market activity on Bursa Malaysia showed some improvement compared to yesterday, with a total of 3.32 billion shares traded, suggesting slightly better investor participation despite the subdued sentiment.

Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Malaysian equities closed mixed despite positive performances across regional markets, primarily impacted by foreign selling.

“Key regional indices ended higher, bolstered by US inflation data that strengthened expectations of a Fed rate cut next week.

“Investors are also anticipating updates on potential stimulus measures from China’s Central Economic Work Conference (CEWC), which concludes today,” he said.

Thong expects the FBM KLCI to remain in consolidation mode with a slight upward bias in the near term, likely moving within the 1,600-1,610 range heading into the weekend.

Among the heavyweights, Maybank and CIMB perked up 2.0 sen each to RM10.14 and RM8.13, IHH Healthcare added 1.0 sen to RM7.17, Public Bank eased 4.0 sen to RM4.57, and Tenaga Nasional slid 20 sen to RM13.56.

Of the active stocks, Zen Tech inched down half-a-sen to half-a-sen, TMK Chemical rose 17 sen to RM1.92, KPJ Healthcare gained 7.0 sen to RM2.34, while TWL Holdings and Aizo were flat at 3.0 sen and 13 sen respectively. — Bernama