KUALA LUMPUR, June 15 (Bernama) -- Bursa Malaysia’s key index advanced at Monday’s close, tracking gains across regional equities as geopolitical risk sentiment improved following an interim agreement between the United States and Iran to reopen the Strait of Hormuz, said analysts. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 7.76 points, or 0.46 per cent, to 1,691.39 compared with last Friday's close of 1,683.63. The key index opened 6.76 points higher at 1,690.39 earlier today and moved between 1,688.04 and 1,697.48 throughout the session. Market breadth was positive, with gainers outpacing losers 789 to 483, while 467 counters were unchanged, 1,034 untraded and 36 suspended. Turnover surged to 5.02 billion units worth RM3.91 billion from 2.79 billion units worth RM2.31 billion last Friday.
KUALA LUMPUR, June 15 (Bernama) -- Bursa Malaysia’s key index advanced at Monday’s close, tracking gains across regional equities as geopolitical risk sentiment improved following an interim agreement between the United States and Iran to reopen the Strait of Hormuz, said analysts.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 7.76 points, or 0.46 per cent, to 1,691.39 compared with last Friday's close of 1,683.63.
The key index opened 6.76 points higher at 1,690.39 earlier today and moved between 1,688.04 and 1,697.48 throughout the session.
Market breadth was positive, with gainers outpacing losers 789 to 483, while 467 counters were unchanged, 1,034 untraded and 36 suspended.
Turnover surged to 5.02 billion units worth RM3.91 billion from 2.79 billion units worth RM2.31 billion last Friday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the US-Iran agreement has reduced near-term concerns over energy supply disruptions and lowered geopolitical risk premiums across global asset markets.
“Although the path towards a comprehensive settlement remains uncertain, the de-escalation has provided a constructive backdrop for risk assets, supporting investor sentiment across emerging markets, including Malaysia,” he told Bernama.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors are advised to remain cautious as the peace agreement has yet to be formally signed and geopolitical risks have not been fully eliminated.
That said, easing crude oil prices and improving risk appetite across regional markets should lend support to the local bourse.
“Looking ahead, we maintain a cautiously optimistic view on the market, although investors are likely to remain selective amid lingering geopolitical uncertainties and concerns over the global economic outlook.
“As such, we expect the FBM KLCI to trend within the 1,680-1,700 range for the week,” he added.
Among the heavyweight counters, Maybank rose 20 sen to RM10.92, Public Bank added nine sen to RM4.92, Tenaga Nasional gained six sen to RM14.48, and CIMB jumped 30 sen to RM7.69, while IHH Healthcare fell nine sen to RM8.69.
Among the active stocks, Hong Seng put on half a sen to 1.5 sen, ACE Market debutant Pentech perked up six sen to 26 sen and Dagang NeXchange climbed four sen to 40.0 sen, Tanco lost seven sen to 13.0 sen, and Zetrix AI was flat at 81.0 sen.
Of the top gainers, Malaysian Pacific Industries added RM1.50 to RM49.00, Fraser & Neave increased 76 sen to RM27.50, UMS soared 68 sen to RM8.70, UWC jumped 60 sen to RM6.20, and Pentamaster rose 52 sen to RM4.83.
Among the top losers, Nestle slipped RM1.10 to RM94.50, Paragon dipped 98 sen to RM2.29, Petronas Chemicals shed 82 sen to RM4.52, and Press Metal slid 57 sen to RM8.40, while Dutch Lady shed 24 sen to RM32.80.
Source: Bernama
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