KUALA LUMPUR: Bursa Malaysia closed higher on Wednesday, lifted by gains in technology and semiconductor-related stocks amid optimism over artificial intelligence (AI), while improving sentiment over a possible Iran peace deal also supported regional markets.
The FBM KLCI finished 9.44 points, or 0.54%, higher at 1,756.87, after trading within a 13.5-point range between an intraday high of 1,760.30 and a low of 1,746.80.
Market breadth was positive, with 785 gainers outnumbering 503 decliners, while 535 counters were unchanged on Bursa Malaysia. Turnover was active, with almost four billion shares traded, valued at RM3.98bil.
Dealers said investor sentiment was boosted by strong gains in regional technology and semiconductor counters amid continued optimism over AI-related demand.
They added that expectations of Bank Negara maintaining the overnight policy rate (OPR) also supported sentiment, while easing geopolitical concerns following signs of progress in U.S.-Iran peace talks lifted regional equities.
On Bursa Malaysia, technology stocks dominated the gainers’ list, led by Malaysian Pacific Industries
, which surged RM3.90 to RM41.40.
Unisem rose 27 sen to RM3.77, while YTL Power International gained 23 sen to RM4.17. Sam Engineering & Equipment climbed 22 sen to RM4.07 and ViTrox Corporation added 17 sen to RM5.77.
In contrast, Nestle slid 80 sen to RM100.90, F&N fell 46 sen to RM29.10, IOI Properties lost 12 sen to RM4.21 and PETRONAS Dagangan declined 12 sen to RM20.22.
ACE Market debutant Manforce Group fell 0.05 sen, or 1.32% to 32 sen with 69.83 million shares traded.
On the forex market, the ringgit strengthened 0.45% against the US dollar to 3.9438 but edged down 0.04% versus the Singapore dollar to 3.1043.
Meanwhile, oil prices fell more than 3% after U.S. President Donald Trump touted the “great progress” made towards a peace agreement with Tehran.
Trump also said he would briefly pause an operation dubbed Project Freedom escorting ships through the Strait of Hormuz.
Brent crude fell 3.04%, or US$3.34, to US$106.53 per barrel, while U.S. West Texas Intermediate crude declined 3.46%, or US$3.54, per barrel.
On the external front, MSCI’s Asia ex-Japan stock index rose 3%, with several regional markets hitting fresh highs, including South Korea’s KOSPI index crossing the 7,000-point mark for the first time and China’s blue-chip index reaching a four-year high.
Japan’s Nikkei 225 closed up 0.38% to 59,513.12 while South Korea’s Kospi surged 6.45% to 7,384.56.
In Hong Kong, the Hang Seng Index rose 1.22% to 26,213.78 and Taiwan’s Taiex added 0.91% to 41,138.85.
China’s blue-chip CSI300 Index advanced 1.45% to 4,877.09, its highest since early 2022 while the Shanghai Composite Index gained 1.17% to 4,160.17.
