Kuala lumpur: Bursa Malaysia ended marginally higher on Monday, bolstered by late buying in selected large-cap stocks as investor sentiment improved despite ongoing geopolitical uncertainties, an analyst reported. At the close of trade, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 0.83 of a point to 1,725.73, up from last Friday's close of 1,724.90.
According to BERNAMA News Agency, the benchmark index opened slightly higher at 1,725.26 and fluctuated between 1,719.47 and 1,729.72 throughout the trading day. Despite the positive close of the FBM KLCI, the broader market was negative, with losers outnumbering gainers 609 to 490. A total of 573 counters remained unchanged, while 1,058 were untraded and 20 were suspended. Trading volume decreased to 2.73 billion units valued at RM2.33 billion, compared to 3.10 billion units valued at RM3.57 billion last Friday.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that regional markets mostly ended lower due to concerns over artificial intelligence spending and technology valuations. However, market sentiment was partially supported by US President Donald Trump's indication that negotiations over the Strait of Hormuz would commence on Monday, raising hopes for easing geopolitical tensions and reducing risks to global energy supplies. This led to a sharp decline in Brent crude prices, which helped ease inflation concerns and boost sentiment in global equity futures.
Thong also highlighted that domestic investors are likely to remain cautious due to the uncertain global economic outlook. However, continued foreign fund inflows are expected to cushion downside risks and provide support to the local market. He projected the FBM KLCI to trade within the 1,710 to 1,740 range throughout the week.
Among the heavyweights, Maybank fell by six sen to RM10.84, Tenaga Nasional decreased by 10 sen to RM14.50, and IHH Healthcare dropped by five sen to RM8.30. Conversely, Public Bank rose by three sen to RM5.20, and CIMB increased by 12 sen to RM8.01. Active stocks included Hubline, which edged down half-a-sen to three sen, Zetrix AI, which lost two sen to 72.5 sen, and HHRG, which slipped 1.5 sen to 11.5 sen.
In terms of lead gainers, Nestl© gained RM1.60 to RM102.70, United Plantations climbed 48 sen to RM34.20, and Hong Leong Industries rose 28 sen to RM18.0. Conversely, Fraser and Neave led the losers by falling 40 sen to RM27.50, while Frontken Corporation dropped 19 sen to RM5.02.
On the index board, the FBM Emas Index increased by 0.63 of a point to 12,752.42, and the FBM Top 100 Index saw a slight rise of 0.09 of a point to 12,585.20. However, the FBM Mid 70 Index declined by 25.27 points to 18,110.51. Sector-wise, the Industrial Products and Services Index decreased by 1.84 points to 187.30, the Energy Index fell by 1.83 points to 763.89, while the Financial Services Index surged by 110.55 points to 20,438.20.
In terms of market volume, the Main Market saw a decline to 1.38 billion units valued at RM2.05 billion, in contrast to 1.50 billion units valued at RM3.24 billion last Friday. Warrants turnover also dipped, and the ACE Market volume slipped to 474.34 million units valued at RM164.93 million from 509.99 million units valued at RM189.47 million on Friday.