KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
Quick Summary
Malaysia’s stock market surged to its highest level since 2018, with the FBM KLCI jumping 1.4% as the ringgit strengthened past the 4.00 mark against the US dollar. Strong confidence in Malaysia’s AI supply chain role, resilient domestic demand and continued foreign inflows lifted overall market sentiment, even as global trade headlines stayed volatile.
What Drove the Rally
FBM KLCI closed at 1,744.07, up 24.08 points (+1.4%), its strongest finish in more than seven years
Ringgit strengthened to around RM3.97/USD, reinforcing foreign investor confidence
Malaysia assets benefited from AI-related optimism, data centre expansion and steady economic fundamentals
Gains came despite mixed market breadth, suggesting index-heavy buying rather than broad-based speculation
Global Backdrop
US markets closed higher as strength in selected Big Tech names offset weakness elsewhere, while investors largely expect the US Federal Reserve to keep rates unchanged this week. Renewed trade rhetoric pushed gold and silver to record highs, highlighting lingering geopolitical uncertainty even as equities rallied.
Key Bursa Highlights
Top gainer: QL Resources (+5.46%), extending its defensive-growth appeal
Top laggard: YTL Corp (-3.51%), dragged by profit-taking
Trading volume: 3.5 billion shares worth RM4.07 billion
Market action reflected selective buying, with index-linked counters driving the upside
Stocks in Focus
PARADIGM REIT: Higher rental income and cost savings lifted 4Q net property income; declared 4.10 sen distribution
ECOSHOP: Net profit rose 15.7% YoY, supported by margin expansion and stronger ringgit
DKSH: Moving closer to privatisation following approval of selective capital reduction proposal
EKOVEST: RM1.15bn acquisition deal officially lapsed after multiple extensions
Why It Matters
The latest move signals that Malaysia is being re-rated as a regional growth and AI beneficiary, supported by:
Strong currency performance
Stable monetary policy
Improving earnings visibility for domestic-focused companies
However, stretched valuations and mixed market breadth suggest near-term consolidation risks if global volatility resurfaces.
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