In the wake of broader gains across Asian markets, Bursa Malaysia managed to close slightly higher on Monday, snapping a three-day losing streak. This positive shift was largely attributed to bargain hunting in select heavyweight stocks, which helped the local market regain some momentum.
The benchmark FTSE Bursa Malaysia KLCI edged up by 1.38 points, equivalent to a modest 0.08% increase, closing at 1,666.94. During the trading session, the index climbed as high as 1,674.74 but eventually settled down as investors opted to take profits.
Among the standout performers were stocks in the refining and renewable energy sectors. Hengyuan Refining Company saw its shares rise by RM1 to RM4.34, while Petron Malaysia Refining strengthened by 33 sen to RM3.79. Notably, renewable energy companies such as Samaiden and Solarvest also posted gains, with their shares increasing by 43 sen and 36 sen, respectively. Pekat Group added 15 sen to its share price, closing at RM2.26.
The Malaysian ringgit appreciated slightly against the US dollar, advancing by 0.13% to a rate of 4.0765. Concurrently, Brent crude oil prices fell by 2.04%, settling at US$101.75 per barrel as concerns over potential supply disruptions eased.
Regionally, stock markets mirrored the positive sentiment seen in Malaysia. Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng, and key Chinese indices all recorded gains, contributing to the overall upbeat trading environment in Asia.