FBM KLCI Reclaims 1,700 On Oil Price Relief, Middle East Optimism
Bursa Malaysia’s benchmark FBM KLCI rebounded to reclaim the 1,700 level on Tuesday, gaining 27.51 points, or 1.64%, to close at 1,701.68.
The index moved between an intraday high of 1,703.61 and a low of 1,684.85, recovering from Monday’s sharp sell-off.
Market breadth favoured gainers, with 929 counters rising against 383 losers, while 361 remained unchanged. Total volume stood at about 3.6 billion shares valued at RM3.75 billion.
Top gainers were led by Malaysian Pacific Industries, which surged RM1.50 to RM30.54, followed by Nestle, up RM1.40 to RM104. Allianz added 80 sen to RM21.30, and Hong Leong Bank rose 68 sen to RM22.98.
On the downside, United Plantations slipped 44 sen to RM31.26, Hengyuan fell 41 sen to RM1.49, Hibiscus lost 28 sen to RM2.11, and MISC declined 27 sen to RM8.46.
Dealers attributed the rebound to easing oil prices and optimism that tensions in the Middle East could de-escalate soon. US President Donald Trump signalled progress in the US-Israel conflict with Iran, suggesting the situation could end “very soon,” which helped curb the recent surge in crude prices.
Brent crude fell US$8.12, or 8.21%, to US$90.84 per barrel, while US West Texas Intermediate crude dropped US$7.96, or 8.4%, to US$86.81 per barrel.
Foreign investors remained net sellers on Monday, offloading RM168 million of equities, while local institutions and retailers were net buyers, acquiring RM68 million and RM100 million respectively.
Regional markets also supported sentiment, with MSCI’s Asia ex-Japan index up 3.3%. Japan’s Nikkei 225 rose 2.88% to 54,248.39, South Korea’s Kospi surged 5.35% to 5,532.59, Hong Kong’s Hang Seng climbed 2.17% to 25,959.90, China’s CSI300 gained 1.28% to 4,674.76, and the Shanghai Composite added 0.65% to 4,123.14.
The Star
