KUALA LUMPUR: Bursa Malaysia pared earlier gains but remained in positive territory on Monday, snapping a three-session losing streak in tandem with gains across regional markets.
The 30-stock index finished 1.38 points, or 0.08%, higher at 1,666.94, paring earlier gains after trading between an intraday high of 1,674.74 and a low of 1,661.22.
The broader market was positive, with 654 gainers outpacing 552 decliners, while 517 counters closed unchanged. Turnover stood at 3.41 billion shares valued at RM2.81bil.
Dealers said bargain hunting in selected heavyweights helped lift the local market, in line with gains across regional bourses, although profit-taking pared some of the earlier gains.
Refiners and renewable energy counters were among the top gainers on Bursa Malaysia. Hengyuan surged RM1 to RM4.34, while Petron Malaysia
Refining gained 33 sen to RM3.79.
Among renewable energy counters, Samaiden jumped 43 sen to RM2.38, Solarvest advanced 36 sen to RM3.69 and Pekat rose 15 sen to RM2.26.
Among the decliners, TIME dotCom slid 55 sen to RM5.86, Sunway Construction eased 45 sen to RM7.43, PETRONAS Gas fell 30 sen to RM17.20 and Ayer lost 25 sen to RM7.15.
On the forex front, the ringgit strengthened 0.13% against the US dollar to 4.0765, bringing its year-to-date gain to about 0.8%.
However, the local currency eased 0.04% against the Singapore dollar to 3.1966.
Meanwhile, Brent crude extended losses for a third straight session as easing concerns over Saudi supply disruptions outweighed fears of a wider Middle East conflict.
Brent crude fell US$2.12, or 2.04%, to US$101.75 a barrel, while US crude declined US$2.05, or 2.04%, to US$98.25 a barrel.
On the external front, MSCI’s Asia ex-Japan stock index rose 1.58%, while regional markets closed higher.
Japan’s Nikkei 225 advanced 1.38% to 65,018.95 while South Korea’s Kospi closed up 1.65% at 7,007.72.
Hong Kong’s Hang Seng ended1.18% higher at 25,042.71 and Singapore’s Straits Times Index ended 0.29% higher at 5,672.27.
China’s CSI300 index advanced 0.71% to 4,539.57 while the Shanghai Composite added 0.97% to 3,949.91.
