KUALA LUMPUR: The FBM KLCI closed at its intraday high on Tuesday, climbing back above the 1,700 psychological level for the first time in three weeks as heavyweight blue chips rallied.
The 30-stock index surged 21.5 points, or 1.27%, to finish at its intraday high of 1,719.94 after falling to a session low of 1,698.21 earlier in the day, lifted by gains in heavyweight blue-chip stocks.
The gains marked its biggest single-day gain since March 10, 2026, when the benchmark climbed 1.64%.
Winners and losers were closely balanced, with 538 gainers against 548 losers and 585 that were flat. About 3.52 billion shares, valued at RM2.75bil, changed hands.
Among the top gainers, PETRONAS Chemicals rose 44 sen to RM4.79, PETRONAS Gas gained 42 sen to RM17.88, Hong Leong Bank climbed 36 sen to RM22.24, while F&N advanced 34 sen to RM29.28.
Leading the decliners, Nestle fell RM1.22 to RM90.50, United Plantations shed 48 sen to RM34.54, Allianz slipped 32 sen to RM20.64, while Chin Well lost 13.5 sen to 68.5 sen.
Tanco surged 31.25%, or 7.5 sen, to 31.5 sen, emerging as the most actively traded counter on Bursa Malaysia with 359.2 million shares changing hands.
Earlier, the company announced two agreements to advance its proposed Smart AI Container Port in Port Dickson, including a strategic partnership with China's SPG Qingdao Port Group.
Meanwhile, stock market data showed foreign investors remained net sellers of local equities, with net outflows totalling RM33mil on Monday. Local institutions and retail investors also recorded net outflows of RM23mil and RM10mil, respectively.
Reuters reported that oil prices hit a four-week high on Tuesday as renewed U.S.-Iran tensions and the reimposition of a naval blockade on Iran heightened concerns over energy flows through the Strait of Hormuz.
Brent crude rose US$3.05, or 3.66% to US$88.35 a barrel while US West Texas Intermediate crude was last traded at US$80.50 per barrel, up US$2.36, or 3.02%.
On the external front, MSCI’s Asia ex-Japan stock index was 0.16% higher with regional bourses ending mixed.
Japan’s Nikkei 225 advanced 0.74% to 67,743.50 while South Korea’s Kospi closed up 0.73% at 6,856.83.
Hong Kong’s Hang Seng gained 0.52% to 24,340.73.
China’s CSI300 index rose 2.15% to 4,796.50 while the Shanghai Composite advanced 1.36% to 3,967.13.
