Kuala lumpur: Bursa Malaysia ended Monday on a positive note, driven by sustained interest in blue-chip stocks, aligning with the favorable performance seen across regional markets, according to an analyst.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 18.47 points, or 1.07%, to close at 1,751.30, up from Friday's finish of 1,732.83. The index began the day 11.91 points higher at 1,744.74 and fluctuated between a low of 1,736.32 in early trading and a high of 1,752.13 in the afternoon. Market sentiment was positive, with 798 gainers surpassing 355 decliners, while 515 counters remained unchanged, 995 were untraded, and 18 were suspended. The total turnover was 3.12 billion units valued at RM2.90 billion.
Mohd Sedek Jantan, the director of investment strategy and country economist at IPPFA Sdn Bhd, highlighted that banking stocks significantly contributed to the local bourse's performance, buoyed by Malaysia's economic fundamentals. He noted increased risk appetite across the broader market, with the FBM Small Cap index rising by 0.8%. The technology sector outperformed, reflecting the overnight strength on Wall Street, where improved risk sentiment and resilient earnings expectations bolstered growth and tech-heavy segments, contributing to a positive regional sentiment.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, observed that regional markets also closed higher, with bargain-hunting activity following last week's volatility. Asian markets benefited from gains in US chipmakers and artificial intelligence-related stocks last Friday. Attention is expected to shift to key US economic releases later this week, particularly delayed jobs and inflation data, which could provide new insights into interest rate prospects and the broader growth outlook.
Thong further commented that a firm move above 1,750 could accelerate the ongoing uptrend, paving the way for additional gains. He anticipated the FBM KLCI to fluctuate within the 1,730-1,760 range for the week, with interim pullbacks offering accumulation opportunities.
Key heavyweights saw gains, with Maybank increasing by 12 sen to RM12.06, Public Bank adding 11 sen to RM5.08, CIMB rising nine sen to RM8.55, Tenaga Nasional climbing 20 sen to RM14.14, and IHH Healthcare growing 14 sen to RM8.94. Among the most active stocks, Zetrix AI increased by 12 sen to 80.5 sen, MMAG Holdings fell half-a-sen to 4.5 sen, Tanco gained three sen to RM1.36, Ambest Group dropped 1.5 sen to 33 sen, and Pharmaniaga inched up half-a-sen to 30 sen.
Top gainers included Allianz Malaysia, which jumped 86 sen to RM23.06, United Plantations which grew 82 sen to RM29.82, and Hong Leong Industries which surged 66 sen to RM17.50. Petronas Gas added 30 sen to RM18.50, and Malayan Cement rallied 26 sen to RM8.50. Leading decliners were Nestle (M), which decreased 70 sen to RM111.60, Axiata Group which lost 20 sen to RM2.19, and Hong Leong Financial Group which went down 16 sen to RM22.40. Harrison Holdings dropped 10 sen to RM1.20.
On the index board, the FBM Top 100 Index gained 145.23 points to 12,616.22, the FBM Emas Index increased by 144.86 points to 12,784.55, and the FBM Mid 70 Index surged by 256.26 points to 17,490.38. The FBM Emas Shariah Index rose by 129.23 points to 12,234.72, and the FBM ACE Index advanced by 98.53 points to 4,729.32.
Sector-wise, the Financial Services Index jumped by 248.01 points to 21,724.95, the Industrial Products and Services Index added 2.54 points to 176.01, the Plantation Index grew by 34.89 points to 8,358.52, and the Energy Index inched up 0.60 of-a-point to 739.61.
The Main Market volume dipped to 1.66 billion units worth RM2.61 billion from Friday's 1.68 billion units worth RM2.80 billion. Warrant turnover widened to 972.26 million units worth RM125.01 million from 810.24 million units worth RM88.93 million previously. The ACE Market volume fell to 481.26 million units worth RM159.09 million from 529.41 million units worth RM207.76 million last Friday.
Consumer products and services counters accounted for 240.22 million shares traded on the Main Market, industrial products and services 271.62 million, construction 182.72 million, technology 349.68 million, financial services 111.37 million, property 175.24 million, plantation 16.22 million, real estate investment trusts 26.70 million, closed-end fund 17,000, energy 93.25 million, healthcare 76.22 million, telecommunications and media 48.57 million, transportation and logistics 39.15 million, utilities 36.29 million, and business trusts 146,500.