Bursa Malaysia closed slightly higher on Monday, halting a three-day losing streak as regional market rallies and strategic bargain hunting in heavyweight stocks provided a boost. The FTSE Bursa Malaysia KLCI inched up by 1.38 points, or 0.08%, to finish at 1,666.94, having peaked at 1,674.74 during the trading session before some investors opted to take profits.
Stocks in the refining and renewable energy sectors were among the top performers, contributing to the market’s positive turn. Hengyuan Refining Company saw a significant rise of RM1 to RM4.34, while Petron Malaysia Refining & Marketing increased by 33 sen to RM3.79. In the renewable sector, Samaiden Group advanced by 43 sen to RM2.38, Solarvest Holdings climbed 36 sen to RM3.69, and Pekat Group added 15 sen to RM2.26.
The regional markets also reflected an upbeat tone, with indices in Japan, South Korea, Hong Kong, and China all closing higher. Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng were among those registering gains, indicating a broad regional uptrend.
On the currency front, the ringgit strengthened by 0.13% against the US dollar, trading at 4.0765. This appreciation comes amid a backdrop of easing concerns over potential supply disruptions, which also influenced the energy market. Brent crude prices fell by 2.04%, settling at US$101.75 per barrel.