As regional markets experienced a positive surge, Bursa Malaysia concluded Monday’s trading session on a slightly higher note, ending its recent three-day losing streak. This uptick was primarily fueled by gains in heavyweight stocks and a wave of bargain hunting, which provided much-needed support to the local market.
The benchmark FTSE Bursa Malaysia KLCI saw a modest increase, closing up 1.38 points, or 0.08%, at 1,666.94. Despite reaching a session high of 1,674.74, the index relinquished most of its gains as investors capitalized on profit-taking opportunities. Notable performers included refining and renewable energy stocks, with Hengyuan advancing RM1 to RM4.34 and Petron Malaysia Refining climbing 33 sen to RM3.79. Furthermore, Samaiden rose 43 sen to RM2.38, Solarvest gained 36 sen to RM3.69, and Pekat increased by 15 sen to RM2.26.
In the currency market, the ringgit showed resilience, appreciating by 0.13% against the US dollar to 4.0765. Meanwhile, the global oil market observed a decline in Brent crude prices, which fell 2.04% to US$101.75 per barrel, alleviating previous concerns about supply disruptions.
The positive momentum was not restricted to Malaysia alone, as other regional markets also recorded gains. Key indexes such as Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng mirrored this upward trend, reflecting a broader regional optimism.