IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said the rebound appears driven by improving market sentiment following reports that Iran is prepared to attend a second round of talks in Pakistan with the US.
“Fresh signals indicate both sides continue to work towards a potential deal, supporting risk-on sentiment across Asia, even as Donald Trump indicated that an extension of the two-week ceasefire is unlikely,” he told Bernama.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said volatility is expected to persist in the near-term as geopolitical developments and crude oil price movements remain key drivers.
“While downside may be cushioned by bargain hunting, upside momentum could be gradual in the absence of clearer positive catalysts,” he told Bernama.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.03 points, or 0.77%, to 1,715.33 from yesterday’s close of 1,702.30.
The benchmark index opened 0.31 of a point higher at 1,702.61, and moved between 1,700.54 and 1,716.64 during the day.
In the broader market, gainers thumped losers 722 to 502, while 547 counters were unchanged, 988 untraded and 13 suspended.
Turnover increased to 3.45 billion units valued at RM3.18 billion from 3.03 billion units valued at RM2.92 billion yesterday.
Among the heavyweights, Maybank added 2 sen to RM11.36, Public Bank rose 11 sen to RM4.80, Tenaga Nasional gained 20 sen to RM14.60, CIMB Group advanced 21 sen to RM7.80, while IHH Healthcare slipped 4 sen to RM8.74.
On the most active list, Zetrix AI gained 4 sen to 89.5 sen, VS Industry added 1.5 sen to 20.5 sen, Velesto Energy rose 1 sen to 35 sen, Main Market debutant MTT Shipping fell 3 sen to RM1.00, while Astro Malaysia advanced 1 sen to 7.5 sen.
Among the top gainers, Malaysian Pacific Industries surged RM2.40 to RM36.60, Hong Leong Bank climbed 56 sen to RM22.96, Hong Leong Financial Group rose 46 sen to RM19.34, Dutch Lady Milk Industries gained 36 sen to RM32.38, while UWC added 23 sen to RM4.78.
Of the top losers, Kuala Lumpur Kepong fell 28 sen to RM20.60, Fraser & Neave shed 26 sen to RM31.20, Bintulu Port declined 24 sen to RM5.35, Petronas Dagangan dropped 20 sen to RM20, while Petronas Chemicals eased 19 sen to RM5.12.
On the index board, the FBM Top 100 Index rose 99.53 points to 12,483.31, the FBM Emas Index gained 104.73 points to 12,648.08, the FBM Mid 70 Index advanced 162.46 points to 17,851.04, the FBM Emas Shariah Index improved 48.46 points to 12,472.13 and the FBM ACE Index climbed 37.53 points to 4,620.51.
By sector, the financial services index jumped 307.11 points to 20,324.56, the industrial products and services index slipped 1.55 points to 185.17, the energy index gained 2.28 points to 808.34, but the plantation index declined 35.24 points to 8,836.88.
The Main Market volume increased to 2.14 billion units valued at RM2.90 billion from 1.68 billion units valued at RM2.61 billion on Monday.
Warrants turnover reduced to 930.89 million units worth RM117.52 million from 959.07 million units worth RM144.65 million previously.
The ACE Market volume slid to 375.27 million units valued at RM163.50 million compared to 385.58 million units valued at RM160.66 million yesterday.
Consumer products and services counters accounted for 313.45 million shares traded on the Main Market, industrial products and services (396.25 million), construction (156.17 million), technology (405.75 million), financial services (90.01 million), property (205.55 million), plantation (40.75 million), real estate investment trusts (8.48 million), closed-end fund (23,800), energy (202.58 million), healthcare (88.98 million), telecommunications and media (92.77 million), transportation and logistics (91.46 million), utilities (50.41 million) and business trusts (95,300).