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Stock Market Rise in Catch-up Trading, KLCI Gains Four Points in Bursa

Bursa Malaysia climbed higher on Monday, mirroring the surge of regional markets observed last Friday, as market activities commenced. At 9:21am, the primary index FTSE Bursa Malaysia KLCI (FBM) experienced this advancement.

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Stock Market in Bursa Surges in Rebound Trade, Kuala Lumpur Composite Index Gains Four Points
Stock Market in Bursa Surges in Rebound Trade, Kuala Lumpur Composite Index Gains Four Points

Stock Market Rise in Catch-up Trading, KLCI Gains Four Points in Bursa

Bursa Malaysia Opens Higher, FBM KLCI Hovering Following Regional Performance

The Bursa Malaysia opened higher on Monday, with the FBM KLCI expected to play catch-up with the strong regional performance from last Friday. The benchmark index rose 4.06 points from its last Thursday close of 1,578.15, reaching 1,582.21 at 9:21am.

By sector, the Industrial Products and Services Index edged up 0.53 of-a-point to 163.52, while the Plantation Index advanced 16.22 points to 7,620.65. The Financial Services Index gained 29.35 points to 18,143.79, and the Energy Index eased 1.59 points to 742.03. The FBM 70 Index climbed 60.87 points to 16,495.58, and the FBM ACE Index was 12.68 points higher at 4,751.41. The FBM Emas Index added 35.15 points to 11,750.44, the FBMT 100 Index gained 32.72 points to 11,516.88, and the FBM Emas Shariah Index rose 45.73 points to 11,721.25.

In active trade, Jaks advanced half-a-sen to 10.5 sen, NexG was one sen higher at 49 sen, while Velesto and Wawasan Dengkil both gained half-a-sen. Among the heavyweights, Maybank rose one sen to RM10.00, Public Bank gained two sen to RM4.29, Tenaga Nasional added 10 sen to RM13.16, while IHH Healthcare and Press Metal were unchanged. CIMB eased five sen to RM7.25.

Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, commented on the FBM KLCI ending the previous week on a flat note. However, Thong Pak Leng also made a prediction about the FBM KLCI, stating that research houses forecast the KLCI to be between 1,620 and 1,690 by the end of 2025.

Market breadth was positive, with 283 gainers and 151 decliners. No new information about the number of unchanged, untraded, or suspended counters was provided. It's worth noting that the local bourse was closed on Friday for the Maulidur Rasul holiday, and there was no new information about the market being closed on that day.

As of the time of writing, the FBM KLCI is expected to hover within the 1,580-1,595 range, following its positive start on Monday.

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