Bursa ends higher ahead of Trump-Xi meeting
Bargain-hunting continues to support the benchmark index following the recent heavy sell-off.
Bursa Malaysia ended trading higher on Tuesday, buoyed by bargain-hunting following a recent sharp sell-off, according to market analysts. The rally came ahead of the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Washington, with investors looking forward to any positive developments in the ongoing trade truce.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, highlighted positive remarks from officials following preparatory talks, which have raised hopes of extending the trade truce. "Renewed strength in technology shares and easing US Treasury yields on Wall Street helped alleviate broader macroeconomic concerns weighing on investor sentiment," Thong said.
He further noted that the local market's improvement in technology sentiment and reduced pressure from US Treasury yields could provide some support, as selected blue-chip valuations have become more attractive following a two-week sharp pullback. Despite the positive outlook, Thong cautioned that the external backdrop remains uncertain due to unresolved issues such as the U.S.-Iran conflict and oil prices trading above US$100 per barrel, which are contributing to elevated inflation and geopolitical risks.
By the end of the trading day, the FTSE Bursa Malaysia KLCI index closed at 1,683.50, up 16.56 points or 0.99% from the previous close. The benchmark index saw positive market breadth with gainers outnumbering losers 678 to 458, while turnover improved to 3.57 billion units, valuing RM3.15 billion, up from 2.93 billion units valued at RM2.49 billion on Monday.
Notable winners included Maybank, Tenaga Nasional, Public Bank, CIMB Group, and IHH Healthcare, while top active counters like AIMAX and Jaks Resources remained flat. Notable decliners included Nestle, Allianz Malaysia, Petronas Dagangan, Sunway Healthcare, and Edaran. Sector-wise, the financial services index saw a surge of 243.22 points, while the plantation index added 45.53 points.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
