Bursa Malaysia extends rally to 5th day, ends above 1,560 resistance level
The positive performance, in tandem with regional markets, was also supported by growing confidence in a potential US Federal Reserve rate cut at the upcoming Federal Open Market Committee meeting, although caution remains ahead of the US-China tariff deadline on Aug 12.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.26 points or 0.40 per cent to close at 1,563.24 from last Friday's close of 1,556.98.
The benchmark index, which opened 0.76 of-a-point higher at 1,557.74, moved between 1,554.95 and 1,565.44 throughout the trading session.
The broader market was positive, with advancers leading decliners 513 to 480, while 510 counters were unchanged, 1,020 untraded and nine suspended.
Turnover improved to 2.54 billion units worth RM2.20 billion from 2.43 billion units worth RM2.22 billion last Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said Malaysia is strategically positioned for substantial expansion in the data centre sector during the second half of 2025, anchored by ongoing construction activity and large-scale capital inflows into the Johor-Singapore Special Economic Zone.
"Several global hyperscalers, particularly operators based in the United States (US), are spearheading this growth. While potential US artificial intelligence chip export restrictions remain a headline risk, we expect the broader data centre upcycle to remain intact given the structural demand drivers at play," he told Bernama.
He expects the upcoming Budget 2026, set for Oct 10, 2025, to be a strategic platform for Prime Minister Datuk Seri Anwar Ibrahim to announce major infrastructure projects ahead of the next general election, creating a pipeline for accelerated project rollouts in 2026.
On the geopolitical front, Mohd Sedek highlighted two key developments in focus: the upcoming deadline for US-China tariffs on Tuesday, and the global sentiment driven by falling oil prices and optimism surrounding US President Donald Trump and his Russian counterpart Vladimir Putin's summit in Alaska on Aug 15, 2025.
On the US-China tariffs deadline, US Commerce Secretary Howard Lutnick signalled last Thursday that a 90-day extension to the tariff truce is likely -- the strongest indication yet of a temporary reprieve since bilateral talks concluded in Stockholm last week.
The Trump-Putin summit could open the door to progress in resolving the war in Ukraine, he added.
Among the heavyweights, Maybank added 4.0 sen to RM9.65, Public Bank gained 7.0 sen to RM4.40, CIMB perked up 8.0 sen to RM6.94, while Tenaga Nasional eased 14 sen to RM13.66 and IHH Healthcare was flat at RM6.96.
Of the most active counters, Classita and Mtouche Technology went up 1.0 sen to 9.0 sen and 2.0 sen respectively, Top Glove put on 1.5 sen to 61 sen, NexG slid 16 sen to 37.5 sen, and Tanco gave up 2.0 sen to 74.5 sen.
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