KUALA LUMPUR: Bursa Malaysia snapped a three-day losing streak on Thursday, tracking gains across regional markets despite lingering geopolitical tensions.
The FBM KLCI closed 3.22 points, or 0.19%, higher at 1,714.59 after touching an intraday high of 1,716.43.
Market breadth was negative, with 598 losers outpacing 417 gainers, while turnover totalled 3.2 billion shares worth RM2.27 billion.
Dealers said the local bourse rebounded in line with regional markets as bargain hunting emerged after recent losses, although sentiment remained cautious amid persistent foreign fund outflows and escalating geopolitical tensions in the Middle East.
They added that investors are likely to stay selective in the near term while monitoring political developments, corporate earnings and global interest rate expectations.
Among the gainers, Panasonic Manufacturing
rose 33 sen to RM5.99, Ornapaper added 22 sen to 87 sen, Tenaga Nasional gained 22 sen to RM14.50, and Sarawak Plantation climbed 17 sen to RM4.49.
Malaysian Pacific Industries topped Bursa Malaysia’s losers’ list, tumbling RM1.58 to RM46.18. United Plantations fell 94 sen to RM33.10, Nestlé dropped 32 sen to RM91.20, while Kuala Lumpur Kepong eased 26 sen to RM20.66.
Among banking stocks, Maybank slipped eight sen to RM10.86 and RHB Bank edged down one sen to RM8.46. CIMB gained seven sen to RM7.73, Public Bank added two sen to RM5.17, while Hong Leong Bank rose 12 sen to RM22.36.
On the forex market, the ringgit declined 0.05% against the US dollar to 4.0890 and edged down 0.13% versus the Singapore dollar to 3.1690.
In terms of fund flows, foreign investors and local institutions remained net sellers on Wednesday, with net outflows of RM73mil and RM56mil, respectively.
Retail investors, meanwhile, were net buyers, recording net purchases of RM129mil.
Reuters reported that oil prices extended gains for a fifth straight session as Houthi attacks in the Red Sea and the near shutdown of the Strait of Hormuz heightened concerns over global supply disruptions.
Brent crude oil added US$3.73, or 3.97%, to US$97.80 a barrel while US crude oil futures climbed US$2.58, or 2.97%, to US$89.41 per barrel.
Across key Asian markets, MSCI’s Asia ex-Japan stock index rose 1.44%.
Japan's Nikkei 225 advanced 0.46% to 66,422.60, while South Korea's Kospi surged 4.4% to 7,096.89.
Hong Kong's Hang Seng climbed 1.28% to 25,210.81, while Singapore's Straits Times Index fell 0.3% to 5,577.75.
China's CSI300 index rose 0.23% to 4,728.0, while the Shanghai Composite added 0.25% to 3,876.78.
