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.