Bursa Malaysia saw a modest rebound on Monday, ending a three-session losing streak thanks to gains in regional markets and strategic buying of select heavyweight stocks. The benchmark FTSE Bursa Malaysia KLCI edged up by 1.38 points, or 0.08%, closing at 1,666.94. This followed an intra-day high of 1,674.74, which was pared down as investors opted to lock in profits.
The market’s performance was notably bolstered by strong activity in the refining and renewable energy sectors. Shares of Hengyuan Refining Company advanced by RM1 to reach RM4.34, while Petron Malaysia Refining & Marketing saw a rise of 33 sen, closing at RM3.79. Other notable performers included Samaiden, which rose 43 sen to RM2.38, and Solarvest, which climbed 36 sen to RM3.69. Pekat Group also gained 15 sen, ending the session at RM2.26.
Alongside the stock market uptick, the Malaysian ringgit strengthened against the US dollar, appreciating by 0.13% to 4.0765. Meanwhile, Brent crude oil prices experienced a decline, dipping 2.04% to US$101.75 per barrel as concerns over potential supply disruptions began to subside.
Regional markets mirrored Bursa Malaysia’s positive trend, with significant gains recorded across several major Asian indexes. Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng, and leading Chinese indexes all closed the day in positive territory, contributing to the overall market optimism.