KUALA LUMPUR: Late selling pressure dragged Bursa Malaysia into negative territory on Monday, bucking the broader regional trend as several Asian markets climbed to fresh highs.
The benchmark FBM KLCI fell 2.75 points, or 0.16%, to 1,745.31, recovering from an intraday low of 1,744.99 after hitting a high of 1,754.0.
Winners and losers were closely balanced, with 562 gainers against 558 losers and 636 that were flat. About 4.2 billion shares, valued at RM3.17bil, changed hands.
Dealers said regional markets remained supported by optimism surrounding artificial intelligence-related stocks, with investors largely brushing aside escalating geopolitical tensions between the United States and Iran.
They added that buying interest in local glove counters helped cushion Bursa Malaysia’s losses, amid concerns over a hantavirus outbreak linked to a cruise ship and firmer crude oil prices driven by Middle East supply risks.
Glove makers drew buying interest on concerns over a hantavirus outbreak linked to a cruise ship, with Top Glove Corporation Bhd
emerging as Bursa Malaysia’s most active stock, rising 12.5% to 85.5 sen with 191.71 million shares traded.
Hartalega climbed 10 sen to RM1.33 with 59.68 million shares traded, while Supermax added 2.5 sen to 35.5 sen on 52.82 million shares.
Kossan rose six sen to RM1.27 with 46.59 million shares traded and Careplus gained one sen to nine sen with 37.46 million shares changing hands.
Oppstar emerged as Bursa Malaysia’s top gainer after hitting limit-up, surging 78.95%, or 30 sen, to 68 sen with 110.76 million shares traded.
The company is among the first three chip design firms — alongside GreatAsic Technology Sdn Bhd and Main Market-bound SkyeChip Bhd — to secure offers from the government for Arm Holdings plc design tokens.
Among the decliners, Nestle slid RM1.40 to RM101.20, PETRONAS Dagangan eased 48 sen to RM20.58, United Plantations lost 28 sen to RM30.52 and Hong Leong Bank declined 28 sen to RM22.34.
Meanwhile, oil prices rallied after President Donald Trump rejected Iran’s response to a U.S. proposal, raising supply concerns as the Strait of Hormuz remained largely closed.
Brent crude rose US$2.65 to US$103.94 a barrel, while US West Texas Intermediate crude was at US$97.55 per barrel,
up US$2.13.
MSCI Asia ex-Japan Index rose 0.73%, with several regional markets hitting fresh highs.
In China, the blue-chip CSI 300 gained 1.64% to 4,951.84, its highest in more than four years, while the Shanghai Composite Index rose 1.08% to 4,225.02, its highest since June 30, 2015.
Hong Kong’s Hang Seng Index was little changed at 26,406.84.
South Korea’s KOSPI closed 4.32% higher at 7,822.24 after climbing as much as 5.35% to a record high of 7,899.32.
Japan’s Nikkei 225 fell 0.5% to 62,417.88, while Singapore’s Straits Times Index edged up 0.3% to 4,940.95.
