Bursa Malaysia edged higher on Monday, marking an end to a three-day losing streak as gains across regional markets and strategic bargain hunting in heavyweight stocks bolstered the local bourse. The FTSE Bursa Malaysia KLCI, the benchmark index, added 1.38 points, or 0.08%, to close at 1,666.94 after peaking at 1,674.74 during the trading session.
Refining and renewable energy stocks were among the top performers, contributing significantly to the day’s recovery. Hengyuan Refining Company saw its shares rise by RM1 to RM4.34, while Petron Malaysia Refining & Marketing climbed 33 sen to RM3.79. In the renewable sector, Samaiden Group advanced 43 sen to RM2.38, Solarvest Holdings increased by 36 sen to RM3.69, and Pekat Group added 15 sen to reach RM2.26.
Meanwhile, the ringgit demonstrated strength, appreciating by 0.13% against the US dollar to 4.0765. In contrast, Brent crude oil prices fell by 2.04% to US$101.75 per barrel, as concerns over potential supply disruptions appeared to subside.
Regionally, stock markets closed on a positive note, echoing the upward momentum seen in Malaysia. Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng were among the indices that recorded gains, along with major Chinese stock indexes.