Amid a backdrop of recovering regional markets, Bursa Malaysia managed to edge up slightly on Monday, marking an end to its recent three-day decline. This modest gain was primarily driven by a rebound in select heavyweight stocks and a general uptick across Asian exchanges.
The FTSE Bursa Malaysia KLCI, the benchmark index, rose by 1.38 points, or 0.08%, closing at 1,666.94. During the trading session, the index climbed to a high of 1,674.74, but most gains were pared back as investors opted to take profits. Notably, the sectors focusing on refining and renewable energy showed robust performance, contributing significantly to the day’s overall market activity.
Key players in the refining sector, such as Hengyuan, saw their shares increase by RM1 to RM4.34, while Petron Malaysia Refining’s stock rose by 33 sen to RM3.79. In the renewable energy space, companies like Samaiden and Solarvest experienced gains, with their shares advancing by 43 sen to RM2.38 and 36 sen to RM3.69, respectively. Pekat also joined the upward trend with a 15 sen rise to RM2.26.
Meanwhile, the ringgit appreciated slightly against the US dollar, strengthening by 0.13% to 4.0765. On the global commodities front, Brent crude prices dipped by 2.04% to US$101.75 a barrel, as fears of supply disruptions began to ease.
The positive sentiment was mirrored across other major Asian markets. Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng, and major Chinese indexes all posted gains, reflecting a broader regional recovery that helped lift investor confidence in Malaysia.