KUALA LUMPUR: The FBM KLCI rallied to an intraday high on Tuesday, extending gains for a fifth straight session as banking stocks surged and the ringgit continued to strengthen.
The 30-stock index surged 27.18 points, or 1.56%, to an intraday high of 1,771.25, its highest level since Oct 8, 2018, when it reached 1,775.75.
It also marked the index’s biggest daily gain since May 13, 2025, when it rose 2.32%.
Market breadth was positive as gainers overpowered the losers on a ratio of 712-to-516 stocks. Trading activity was brisk, with 3.61 billion shares worth RM4.47bil changing hands.
Dealers said the rally was driven mainly by buying interest in heavyweight banking stocks, as investors responded positively to sustained foreign fund inflows and improving risk sentiment.
They noted that the FBM KLCI’s ability to hold near its intraday high reflects growing confidence that the market’s recent momentum can be sustained in the near term.
Still, dealers said the continued participation of foreign and institutional investors could provide a firm base for further gains, particularly if global market conditions remain supportive.
Banking stocks were among the top gainers today. Hong Leong Bank advanced 58 sen to RM25.08, while Hong Leong Financial Group added 56 sen to RM21.86.
CIMB rose 33 sen to RM8.95 and Maybank climbed 26 sen to fresh high of RM11.76. AmBank gained 13 sen to RM6.68, while Public Bank added 13 sen to RM5.00 and RHB Bank
rose 12 sen to RM8.41.
Among the decliners, Nestle lost 40 sen to RM115.60, Carlsberg fell 26 sen to RM18.08, Kuala Lumpur Kepong slid 20 sen to RM19.82 and KLCC declined 20 sen to RM9.16.
ACE Market debutant One Gasmaster closed down 20%, or 0.5 sen to 20 sen with 46.16 million shares traded.
According to data from Bursa Malaysia, foreign investors remained net buyers on Monday, purchasing RM135mil worth of local equities, while local institutions bought RM391mil.
In contrast, local retailers stayed net sellers, offloading RM526 mil worth of shares.
On the forex market, the ringgit extended its gains to an eight-year high against the US dollar, rising 0.27% to 3.9537.
The local currency also strengthened 0.3% against the Singapore dollar to 3.1165.
Elsewhere in the region, Asian shares closed higher, with MSCI’s Asia ex-Japan stock index rising 1.13%.
Japan’s Nikkei 225 rose 0.85%, South Korea’s Kospi surged 2.73% and Hong Kong’s Hang Seng Index advanced 1.35%, while China’s CSI 300 slipped 0.03%.
