Bursa Malaysia saw a slight uptick on Monday, snapping a three-day losing streak, as the FTSE Bursa Malaysia KLCI rose by 1.38 points to close at 1,666.94. This modest gain of 0.08% came amid regional market rallies and strategic buying of select heavyweight stocks.
Despite reaching an intraday high of 1,674.74, the benchmark index pared back most of its gains due to profit-taking by investors. However, the overall market sentiment was buoyed by strong performances in refining and renewable energy sectors.
Among the notable performers, Hengyuan added RM1 to close at RM4.34, while Petron Malaysia Refining saw an increase of 33 sen, reaching RM3.79. In the renewable energy sector, Samaiden advanced 43 sen to RM2.38, Solarvest rose 36 sen to RM3.69, and Pekat gained 15 sen to end at RM2.26.
The local currency also showed strength, with the ringgit appreciating by 0.13% against the US dollar, trading at 4.0765. Meanwhile, Brent crude prices fell by 2.04% to US$101.75 per barrel, as concerns over supply disruptions began to ease.
Elsewhere in Asia, regional markets closed higher, with Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng indices all recording gains, further contributing to the positive sentiment surrounding Bursa Malaysia’s performance.