KUALA LUMPUR (March 26): Bursa Malaysia closed higher on Tuesday, buoyed by late buying in blue-chip stocks led by Maybank Bhd, MISC Bhd, and Petronas Chemicals Group Bhd, amid the mostly weaker performance in regional peers. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 0.88 of a point to 1,538.42 from Monday’s close of 1,537.54. 

The benchmark index opened 1.48 points lower at 1,536.06 and moved in a tight range between 1,532.07 and 1,540.51 throughout the day.  

On the broader market, gainers beat losers 570 to 472, while 491 counters were unchanged, 807 untraded, and 47 others suspended.

Turnover increased to 3.83 billion units worth RM3.04 billion from 3.59 billion units worth RM2.49 billion on Monday.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the prevailing general sentiment in the stock market is still cautious.

"Investors are awaiting key statistical updates in the United States (US), particularly the Personal Consumption Expenditures [PCE] inflation data which is projected to hold steady at 2.4% for February. 

"Essentially, this inflation figure will influence the US Federal Reserve's decision on the timing of any potential interest rate adjustments, which has been a significant factor driving positive investor sentiment,” he said.

Additionally, he said that Malaysia's inflation rate for February, at 1.8% year-on-year, exceeded the consensus estimate of 1.4%, and may indicate a heightened sense of caution among investors and consumers relating to their future spending intentions.

Among the heavyweights, Maybank added seven sen to RM9.69, Petronas Chemicals improved by five sen to RM6.83, Public Bank Bhd advanced a sen RM4.25, while CIMB Group Holdings Bhd was flat at RM6.50 and Tenaga Nasional Bhd eased two sen to RM11.48.

As for the actives, Sapura Energy Bhd added a sen to five sen, TCS Group Holdings Bhd added 6.5 sen to 19.5 sen, while TWL Holdings Bhd, Fitters Diversified Bhd and Lambo Group Bhd were flat all at three sen, 5.5 sen and three sen respectively, and Wentel Engineering Holdings Bhd slipped two sen to 33 sen.
 

https://www.theedgemarkets.com/node/705997