The rebound is in tandem with most regional markets’ performance, with investors anxiously awaiting several central banks’ meetings this week, an analyst said.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI’s (FBM KLCI) performance today signalled continued resilience in Malaysia’s domestic economy.
Gains were led by technology and utilities counters, particularly those with strong domestic exposure.
“Today’s market performance also mirrored patterns observed during the onset of the Russia–Ukraine conflict, with plantation and energy stocks driving sectoral gains on Bursa Malaysia.
“This reflects a broader shift towards commodities and inflation-sensitive sectors in times of geopolitical uncertainty,” Sedek told Bernama.
Despite these risks, he added that the regional equity markets broadly rebounded, underpinned by an improved macroeconomic outlook in the US.
Meanwhile, SPI Asset Management managing director Stephen Innes said today’s market activity appeared more like rotation rather than panic selling.
Local funds were favouring lower-risk regional exchanges – those with deeper liquidity and larger defence companies – as geopolitical hedging became an integral part of their strategy.
“Bursa Malaysia lagged behind other markets initially, but by the close, it managed to hold up relatively well,” said Innes.
At 5pm, the FBM KLCI rose 1.88 points, or 0.12%, to 1,519.99 from last Friday’s close of 1,518.11.
The benchmark index, which opened 0.24 of-a-point lower at 1,517.87, moved between 1,512.26 and 1,521.38 throughout the trading session.
Market breadth was negative, with decliners thumping gainers 612 to 321, while 509 counters were unchanged, 973 untraded and 21 suspended.
Turnover narrowed to 2.83 billion units worth RM2.04 billion compared with Friday’s 2.88 billion units valued at RM2.06 billion.
Among the energy-related heavyweights, Tenaga National firmed six sen to RM14.36, Petronas Gas rose 12 sen to RM17.96, Petronas Chemicals ticked up seven sen to RM3.4, and MISC climbed eight sen to RM7.58.
For other heavyweights, Maybank was 11 sen lower at RM9.59, Public Bank eased two sen to RM4.23, CIMB shed seven sen to RM6.75, and IHH Healthcare was one sen better at RM6.91.
Among the most actively traded stocks, MyEG shaved 2.5 sen to 93 sen, Tanco eased 0.5 sen to 95.5 sen, while Thrive Property Group, NexG, Velesto Energy, and Reservoir Link Energy added 0.5 sen each to 1.5 sen, 35.5 sen, 19 sen, and 36 sen respectively.
On the index board, the FBM Emas Index slid 9.39 points to 11,360.79, the FBMT 100 Index fell 5.69 points to 11,138.35, but the FBM Emas Shariah Index increased 44.13 points to 11,373.66.
The FBM 70 Index declined 85.25 points to 16,283.46 and the FBM ACE Index dropped 15.38 points to 4,471.81.
Sector-wise, the energy index advanced 11.4 points to 752.16 and the plantation index surged 129.35 points to 7,350.27.
The financial services index slipped 147.25 points to 17,501 and the industrial products and services index trimmed 0.22 of-a-point to 151.13.
The Main Market volume narrowed to 1.25 billion units valued at RM1.8 billion from 1.37 billion units worth RM1.81 billion registered at Friday’s close.
Warrants turnover expanded to 1.35 billion units worth RM171.62 million versus 1.16 billion units valued at RM151.36 million previously.
The ACE Market volume dwindled to 228.89 million units valued at RM74.3 million against 359.88 million units worth RM97.5 million on Friday.
Consumer products and services counters accounted for 210.9 million shares traded on the Main Market, industrial products and services (166.96 million), construction (85.22 million), technology (165.43 million), SPAC (nil), financial services (68.42 million), property (132.48 million), plantation (19.66 million), REITs (27.72 million), closed end fund (27,000), energy (207.16 million), healthcare (61.74 million), telecommunications and media (33.36 million), transportation and logistics (38.82 million), utilities (33.58 million), and business trusts (1,300).