Investors gave Bursa Malaysia's main index a slight boost by closing higher in the afternoon after it fell below the 1,590 level in the morning session.
The market is currently focusing on heavyweight stocks in the industrial and financial sectors.
At 3.40pm, the FTSE Bursa Malaysia KLCI ( FBM KLCI ) was at 1,596.64, down 1.62 points (0.10%) from yesterday's close at 1,598.18.
The benchmark index opened 1.63 points higher at 1,599.81 and fluctuated between 1,588.99 and 1,599.94 in the morning session.
In the broader market, losers outnumbered gainers 591 to 304, while 440 counters remained unchanged.
The trading volume was at 2.22 billion shares worth RM1.14 billion.
Malacca Securities Research firm said the year-end holiday season is drawing to a close and they remain bullish on the tourism and aviation industry supported by momentum in AirAsia X Bhd and Capital A Bhd.
They added that the escalation of the Ukraine-Russia conflict may create opportunities in gold-related stocks.
Meanwhile, a stronger US dollar, coupled with potential tariffs from the Trump administration, continues to favor export-oriented sectors such as technology and gloves.
The firm is also optimistic about the construction, real estate and building materials sectors, which may experience earnings momentum growth driven by data center investments earlier this year. – NSTP
