KUALA LUMPUR, Jan 13 — Bursa Malaysia’s benchmark index closed at an intraday high of 1,708.20, its highest level in more than six years, supported by broadly positive regional sentiment following gains on Wall Street and sustained foreign buying interest.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.76 points, or 0.75 per cent, compared with Monday’s close of 1,695.44. The index surpassed its previous peak of 1,707.73 recorded on Feb 28, 2019.

The benchmark index opened 5.30 points higher at 1,700.74, slipped to an intraday low of 1,698.79 in early trade, before edging higher throughout the day toward the close.

Market breadth was positive, with gainers leading losers 542 to 536, while some 550 counters were unchanged, 1,010 untraded, and 12 suspended.

Turnover improved to 3.41 billion units worth RM3.55 billion from Monday’s 3.09 billion units worth RM2.72 billion.

Analysts said the FBM KLCI’s break above the psychologically important 1,700 level - a milestone first reached in 2013 and last seen in February 2019 - marks a decisive return to pre-pandemic valuations and underscores the strength of the ongoing recovery and the improving outlook for the Malaysian economy.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said this move comes barely four months after the index reclaimed the 1,600-level, signalling a clear acceleration in investor confidence and capital reengagement with Malaysian equities.

“Sector leadership today was distinctly domestic-driven. Consumer and utilities stocks led the gains, reflecting resilient household demand and stable regulated cash flows, while energy stocks lagged despite higher crude prices.

“Oil prices rose after US President Donald Trump announced a 25 per cent tariff on any country trading with Iran, ramping up pressure on Tehran over its violent crackdown on a wave of protests. The divergence suggests investors remain selective, favouring earnings visibility over headline-driven commodity moves,” he told Bernama.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices also finished higher, as technology stocks climbed on sustained optimism over artificial intelligence.

“Back home, we remain positive on the local market with the return of foreign buying, which has helped to reinforce overall confidence and support the recent advance in the benchmark index.

“Buying interest continues to be anchored by fundamentally strong blue-chip stocks, while sentiment has gradually broadened across the market. We anticipate the benchmark index to trend within the range of 1,690-1,720 for the rest of the week,” he said.

Among the heavyweights, Maybank gained 12 sen to RM11.06, Public Bank increased five sen to RM4.64, CIMB rose 17 sen to RM8.38, and Tenaga Nasional climbed 20 sen to RM13.80, while IHH was one sen lower at RM8.54.

On the most active list, MMAG slid half-a-sen to 5.5 sen, Semico surged 12.5 sen to 37.5 sen, IJM Corp fell one sen to RM2.74, Zetrix AI lost 2.5 sen to 82 sen, and Tanco added two sen to RM1.21.

Among the top gainers, Hong Leong Industries advanced 34 sen to RM17.00, Batu Kawan put on 22 sen to RM20.30, Spritzer climbed 20 sen to RM3.02, PMB Technology jumped 17 sen to RM1.46, and Bursa Malaysia gained 16 sen to RM8.60.

As for the top decliners, United Plantation fell 10 sen to RM34.0, Fraser & Neave decreased 66 sen to RM36.0, Petronas Dagangan slipped 48 sen to RM20.22, Southern Acids fell 21 sen to RM3.18, and Nestle slipped 20 sen to RM119.80.

On the index board, the FBM Emas Index increased 59.64 points to 12,590.41, the FBM Top 100 Index rose 65.38 points to 12,384.97, while the FBM Emas Shariah Index fell 2.05 points to 12,314.82.

The FBM Mid 70 Index dropped 29.37 points to 17,527.81 and the FBM ACE Index lost 22.51 points to 4,982.27.

Sector-wise, the Financial Services Index jumped 232.06 points to 20,418.32, the Energy Index notched up 1.74 points to 786.21, the Industrial Products and Services Index perked up 0.88 of-a-point to 173.85, while the Plantation Index slipped 99.60 points to 8,560.68.

The Main Market volume dipped to 1.64 billion units worth RM3.13 billion from Monday’s 1.67 billion units worth RM2.42 billion.

Warrants turnover advanced to 1.07 billion units worth RM149.41 million from 918.93 million units worth RM123.27 million previously. 

The ACE Market volume expanded to 690.46 million units worth RM263.54 million from 501.69 million units worth RM170.29 million yesterday.

Consumer products and services counters accounted for 238.76 million shares traded on the Main Market, industrial products and services (276.50 million), construction (225.03 million), technology (204.67 million), financial services (176.66 million), property (174.37 million), plantation (32.84 million), real estate investment trusts (20.92 million), closed-end fund (41,100), energy (97.99 million), healthcare (109.45 million), telecommunications and media (22.04 million), transportation and logistics (32.58 million), utilities (37.07 million), and business trusts (5,600). — Bernama