KUALA LUMPUR: Bursa Malaysia turned mixed at the close today, driven by late buying in selected heavyweights as investors began to digest the 12th Malaysia Plan (12MP).
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) earned 0.99 off-a-point or 0.06 per cent to 1,533.05, from Friday's close of 1,532.06.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the FBMKLCI was in a tight range today.
"Despite the sizable allocation for development spending, the impact appears to be muted. It is understandable because it is a medium term plan and therefore, the market will assess accordingly as more information will be gathered as we progress through the year," he told the New Straits Times.
Bursa opened marginally higher on Monday but retreated on mild profit-taking in selected heavyweights at midday break before the 12MP unveiling.
At 9.45am, the FBM KLCI was down 5.21 points to 1,526.85, displaying vestiges of selling pressure from the previous week even as bargain hunters picked up on sold-down counters.
At lunch break, FBM KLCI fell 4.79 points to 1,527.27.
The index, which opened 0.83 of-a-point higher at 1,532.89, moved in a tight range between 1,526.14 and 1,533.51 throughout the day.
Market breadth, however, was negative with decliners outpacing gainers 587 to 424, while 439 counters were unchanged, 863 untraded and 16 others suspended.
Turnover fell to 4.38 billion units worth RM2.98 billion from Friday's 4.78 billion units worth RM3.34 billion.
Among the heavyweights, Malayan Banking Bhd was flat at RM8.10, Tenaga Nasional Bhd declined one sen to RM9.85, Public Bank Bhd and IHH Healthcare Bhd rose four sen each to RM4.08 and RM6.68 respectively.
Of the actives, Borneo Oil Bhd and Dagang NeXchange Bhd were flat at three sen and 81 sen, respectively, while KNM Group Bhd and Impiana Hotels Bhd rose 1.5 sen each to 24 sen and nine sen, respectively.
Prime Minister Datuk Seri Ismail Sabri Yaakob today unveiled the 12MP with the objective of transforming the nation into a "Prosperous, Inclusive and Sustainable - Keluarga Malaysia" over five years till 2025.
