Global stock markets saw a positive start to the week as regional indexes across Asia, including Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng, experienced gains on Monday. In line with these trends, Bursa Malaysia ended its trading session slightly higher, breaking a three-day losing streak.
The FTSE Bursa Malaysia KLCI, the benchmark index for the Malaysian stock market, recorded an increase of 1.38 points, or 0.08%, finishing the day at 1,666.94. At one point during the session, the index reached a high of 1,674.74 before retreating as investors opted to lock in profits.
Among the sectors contributing to this uptick were refining and renewable energy, with notable performances from several heavyweight stocks. Hengyuan’s shares rose by RM1 to RM4.34, while Petron Malaysia Refining saw an increase of 33 sen, reaching RM3.79. Renewable energy companies also 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 foreign exchange markets, the ringgit appreciated by 0.13% against the US dollar, reaching a rate of 4.0765. Meanwhile, Brent crude oil prices fell by 2.04% to US$101.75 per barrel as concerns over potential supply disruptions subsided, impacting the energy market.
The broader gains across Asian markets reflect a cautiously optimistic sentiment as investors navigate the varying dynamics of global economic recovery. Despite the profit-taking seen during the session, the positive close on Bursa Malaysia highlights an underlying confidence, buoyed by strategic bargain hunting in key stocks.