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Market Daily Report: Bursa Malaysia's Key Index Reverses Earlier Losses To Close Higher

KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
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Malaysia Morning Wrap: Palm Oil Emerges as a Key Growth Engine as KLCI Holds Firm Above 1,710

Malaysia’s market closed slightly higher as select blue-chip buying offset global risk-off sentiment, while analysts highlighted palm oil output as a meaningful contributor to near-term GDP growth and longer-term economic momentum.

Market Snapshot

US Market Recap

  • S&P 500 Index: 6,926.6 (-0.5%)

  • Dow Jones Industrial Average: 49,149.63 (-0.1%)

  • Nasdaq Composite Index: 23,471.75 (-1.0%)

US equities retreated from recent record highs as technology and banking stocks weakened, while geopolitical tensions involving Iran and renewed political rhetoric added to investor caution.

Bursa Malaysia Performance

  • FTSE Bursa Malaysia KLCI Index: 1,710.91 (+0.16%)

  • Top Gainer: Petronas Dagangan (+3.96%)

  • Top Loser: Gamuda (-2.04%)

  • USD/MYR: 4.0493

The FBM KLCI edged higher on late-session buying, maintaining levels above the key 1,710 mark.

Key Themes Driving Malaysia’s Outlook

Palm Oil Supports GDP Growth

  • CIMB Investment Bank estimates Q4 2025 GDP growth at 5.3% YoY

  • Full-year 2025 GDP growth: 4.8%

  • Palm oil production surge contributed ~0.4% to GDP growth

  • Strong CPO output and manufacturing activity were key drivers

This reinforces palm oil’s role as a strategic sector supporting income, exports, and rural economic activity.

Construction and Digital Infrastructure Remain Structural Drivers

  • Malaysia’s construction sector is projected to grow ~4% annually from 2026–2029

  • Growth supported by:

    • Housing demand

    • Oil & gas supply chains

    • Data centres and digital infrastructure investments

Utilities Set for Earnings Stabilisation

  • Maybank Investment Bank expects a mild earnings rebound in 2026

  • Sector enters 2026 “on a clean slate”

  • Tenaga Nasional has fully settled its disputed tax prepayment, removing a key overhang

Stocks to Watch

  • Sunview Group
    Proposes private placement of up to 10% of enlarged share capital, raising up to RM19.02m for EPCC working capital.

  • Hibiscus Petroleum
    Announced an unexpected gas discovery in Australia’s Otway Basin; commercial viability under review.

  • Gtronics
    Appointed a new non-executive chairman following board changes.

  • Pestech International
    Subsidiary served with a winding-up petition over US$2.39m, though management sees no material impact.

  • Tenaga Nasional
    Signed a Phase 2 energy wheeling agreement enabling cross-border power transmission from Laos to Singapore via Malaysia.

Market Takeaway

Malaysia’s equity market remains resilient, supported by:

  • Strong palm oil output

  • Infrastructure and data centre investments

  • Stabilising utilities sector

While global volatility persists, domestic growth drivers are increasingly visible, positioning Malaysia on a steadier footing heading into 2026.

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