Kuala Lumpur:Bursa Malaysia concluded higher today, driven by market optimism and sustained buying activity following the announcement of Budget 2027, which acted as a fresh catalyst for the market.
According to BERNAMA News Agency, at 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 7.44 points, or 0.47 percent, to 1,608.45 from the previous day's close of 1,601.01. The benchmark index began the day 1.93 points higher at 1,602.94 and fluctuated between 1,600.55 and 1,609.94 throughout the session.
In the broader market, gainers outnumbered losers 627 to 450, with 547 counters unchanged, 1,204 untraded, and 13 suspended. Turnover decreased to 3.33 billion units worth RM2.90 billion, compared to 3.51 billion units worth RM3.46 billion the previous day.
YTL Power International saw an increase of 14 sen to RM5.70, and 99 Speed Mart Retail and Press Metal Aluminium each rose by 11 sen to RM3.23 and RM7.23, respectively. These gains collectively boosted the composite index by 5.45 points.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that Budget 2027 could introduce fresh catalysts for domestic consumption, infrastructure, and selected growth sectors. He highlighted that while persistent foreign selling is a key challenge, domestic institutional support and strong economic fundamentals could mitigate any potential downturn.
Thong also observed that the FBM KLCI rebounded after a sharp correction, with oversold conditions prompting bargain hunting amid stronger regional emerging markets. Despite a 1.3 percent dip in Brent crude prices to US$102.91 per barrel, elevated energy prices and bond market volatility remain significant concerns.
Among other heavyweights, Gamuda increased by 14 sen to RM5.09, Hong Leong Bank rose by 38 sen to RM21.48, and Sunway Bhd advanced by nine sen to RM4.40. Meanwhile, Petronas Gas and IOI Properties saw declines of 68 sen to RM17.12 and three sen to RM3.35, respectively.
Active trading saw Zetrix AI gain one sen to 8.5 sen, V.S Industry rise 1.5 sen to 34.5 sen, NationGate jump 15 sen to RM2.11, while Top Glove and Dagang NeXchange experienced minor losses.
Top gainers included Nestle, which increased by 72 sen to RM90.16, Mi Technovation rising by 70 sen to RM6.78, and Malaysian Pacific Industries improving by 58 sen to RM44.08. United Plantations and Dutch Lady Milk Industries also saw gains.
Conversely, Fraser and Neave fell 30 sen to RM20.34, Negri Sembilan Oil Palms decreased 16 sen to RM5.29, and Genting Plantations dropped 15 sen to RM5.59. Hengyuan Refining Company and FCW Holdings both lost 11 sen.