Bursa Malaysia closed marginally higher on Monday, halting a three-day decline as regional market gains and strategic buying in heavyweight stocks provided a lift. The FTSE Bursa Malaysia KLCI, the market’s benchmark index, edged up 1.38 points, or 0.08%, to finish at 1,666.94. The index had earlier peaked at 1,674.74 before retreating, with some investors opting to lock in profits.
Notably, stocks in the refining and renewable energy sectors emerged as strong performers. Hengyuan Refining Company saw its share price increase by RM1 to RM4.34, while Petron Malaysia Refining & Marketing added 33 sen to close at RM3.79. In the renewable energy space, Samaiden Group advanced 43 sen to RM2.38, Solarvest Holdings climbed 36 sen to RM3.69, and Pekat Group rose 15 sen to RM2.26.
The local currency, the ringgit, also experienced a slight boost, strengthening 0.13% against the US dollar to 4.0765. Meanwhile, in the commodities market, Brent crude prices fell 2.04% to US$101.75 per barrel amid diminishing fears of supply disruptions.
Across Asia, markets performed well, with Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng all ending the day in positive territory. Major Chinese indexes also recorded gains, contributing to the positive sentiment in the region.