KUALA LUMPUR: Bursa Malaysia extended its gains for a fifth straight session on Thursday after Bank Negara kept its benchmark interest rate unchanged at 2.75%, in line with market expectations.
Market optimism was also boosted by positive regional sentiment amid continued enthusiasm surrounding artificial intelligence (AI)-related stocks.
At 5pm, the FBM KLCI rose 1.98 points, or 0.11%, to close at 1,758.85 after hitting an intraday high of 1,768.46 and a low of 1,758.42.
There were 660 gainers, 583 losers and 593 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.8 billion shares valued at RM4.25bil.
Dealers said sentiment was supported by Bank Negara’s decision to maintain the OPR at 2.75%, which provided clarity on the domestic monetary policy outlook.
They added that continued optimism over AI-related stocks and stronger regional markets also lifted investor appetite across Asian equities.
Among the gainers on Bursa Malaysia were Nestle, which surged RM3.20 to RM104.10, F&N, which rose 92 sen to RM30.02, Allianz, which climbed 62 sen to RM21.42, and UMS Integration, which gained 54 sen to RM7.37.
On the losing side, PETRONAS Chemicals fell 59 sen to RM5.28, MISC slid 31 sen to RM8.37, Gas Malaysia dropped 20 sen to RM5.30, while Malaysian Pacific Industries
declined 18 sen to RM41.22.
On the forex market, the ringgit rose 0.41% to 3.9093 against the US dollar, its highest level in seven weeks. Year-to-date, the local currency has strengthened 3.88% against the greenback.
The ringgit also gained against the Singapore dollar, rising 0.31% to 3.0870, its highest level in about six weeks.
According to Bursa Malaysia data, foreign investors and local institutions were net buyers on Wednesday, purchasing RM123mil and RM209mil worth of equities, respectively, while retail investors were net sellers at RM332mil.
Around the region, MSCI’s Asia ex-Japan stock index rose 1.76%, with most regional markets ending higher.
China’s blue-chip CSI300 Index and the Shanghai Composite Index both gained 0.48% to close at 4,900.51 and 4,180.09, respectively.
Hong Kong’s benchmark Hang Seng Index climbed 1.57% to 26,626.28.
Japan’s Nikkei 225 Index surged 5.58% — its biggest gain in more than a year — to close at a record high of 62,833.84, while South Korea’s Kospi advanced 1.43% to 7,490.05.
