Amid fluctuating market conditions, Bursa Malaysia managed to close slightly higher on Monday, marking a break from its recent three-session losing streak. This modest recovery was largely attributed to supportive gains in regional markets and strategic bargain hunting in select heavyweight stocks.
The benchmark FTSE Bursa Malaysia KLCI saw a minor increase, rising 1.38 points or 0.08% to settle at 1,666.94. During the day’s trading, the index had climbed as high as 1,674.74 before retreating as investors opted to secure profits.
Key sectors bolstering this performance included refining and renewable energy, with notable gains from stocks such as Hengyuan, which increased by RM1 to RM4.34, and Petron Malaysia Refining, which went up by 33 sen to RM3.79. Similarly, companies in the renewable energy sector showed strength, with Samaiden advancing 43 sen to RM2.38, Solarvest climbing 36 sen to RM3.69, and Pekat adding 15 sen to RM2.26.
In currency markets, the ringgit strengthened slightly against the US dollar, improving by 0.13% to 4.0765. Meanwhile, there was a decline in Brent crude prices, which fell 2.04% to US$101.75 per barrel as concerns over potential supply disruptions eased.
Across the region, other markets also experienced gains. Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng, and major Chinese indexes all ended the day on a positive note, contributing to the optimistic sentiment that supported Bursa Malaysia’s performance.