KUALA LUMPUR: Bursa Malaysia concluded another day in positive territory, extending its winning streak to seven consecutive days.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) showed a marginal increase of 0.39 points, reaching 1,465.67 compared to the previous day's close at 1,465.28.
On the broader market scenario, 474 gainers surpassed 431 losers, with 478 counters unchanged.
The total turnover decreased to 3.72 billion units valued at RM2.42 billion, down from the previous day's 4.81 billion units worth RM3.02 billion.
SPI Asset Management managing director Stephen Innes said the market has been trading on US rate cut optimism, along with hope that the China economy can turn the corner after the latest round of stimulus last week.
"However the afternoon bounce was on the back of the BoJ (Bank of Japan) dovish inference which helped bolster local sentiment. If they liked or removed yield curve control (YCC) completely it could have been disruptive for global risk sentiment," he added.
Innes said the Bank of Japan holding monetary policy steady gave local markets a bit of a lift, despite local markets grappling with a weak Chinese economy and pushback from Fed officials trying to temper the market US rate cut enthusiasm which negatively affects local sentiment.