Kuala Lumpur:Bursa Malaysia opened higher on Monday, driven by positive sentiment from Budget 2027 and gains on Wall Street, particularly in technology stocks. Eased oil prices helped offset weak US consumer sentiment.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.10 points, or 0.31 percent, to 1,613.55, up from Friday's close of 1,608.45. The index initially opened 3.34 points higher at 1,611.03. Across the broader market, there were 251 gainers compared to 200 losers, with 383 counters unchanged, 1,993 untraded, and 12 suspended. The turnover was recorded at 340.29 million units, valued at RM181.54 million.
Hong Leong Investment Bank commented on Budget 2027, highlighting its focus on social protection, growth initiatives, and fiscal consolidation, projecting the fiscal deficit to narrow to 3.3 percent of GDP from 3.6 percent in 2026. The consumer and property sectors are expected to benefit, while the oil and gas and labor-intensive sectors may face cost pressures from the upcoming minimum wage increase in June 2027. The investment bank noted that geopolitical tensions, high bond yields, and energy prices, alongside election uncertainty, would likely keep the market range-bound.
Key stock movements included Maybank rising nine sen to RM9.90, Public Bank up five sen to RM4.62, and CIMB and Tenaga Nasional each gaining six sen to RM7.32 and RM12.94, respectively. IHH Healthcare fell three sen to RM7.87. In active trading, Zetrix AI remained at 8.5 sen, VS Industry increased 1.5 sen to 36 sen, and Nationgate rose five sen to RM2.16. Genting dropped 26 sen to RM1.62, while Dagang NeXchange slipped half a sen to 51.5 sen.
Top gainers included Vitrox, up 16 sen to RM11.16, Azam Jaya rising 15 sen to RM1.10, and Hong Leong Bank and Hong Leong Financial each adding 12 sen to RM21.60 and RM17.42, respectively. Malayan Cement advanced 10 sen to RM5.65. Among the top losers, Kuala Lumpur Kepong fell 28 sen to RM20.34, AME REIT slipped 10 sen to RM1.52, and Genting Malaysia and Mulpha International eased nine sen each to RM1.40 and RM2.65, respectively.
On the index board, the FBM Mid 70 Index decreased by 4.10 points to 17,679.01, while the FBM Emas Index gained 27.51 points to 12,126.34. The FBM Top 100 Index rose 27.01 points to 11,898.41, the FBM Emas Shariah Index advanced 10.14 points to 12,139.93, and the FBM ACE Index edged up 4.31 points to 5,658.88. Sector-wise, the Financial Services Index surged 141.99 points to 18,566.81, the Industrial Products and Services Index edged up 0.16 points to 180.91, the Energy Index gained 1.24 points to 839.81, while the Plantation Index decreased by 38.09 points to 8,852.17.