Bursa Malaysia Opens Marginally Lower, But Turns Higher Thereafter
By Rosemarie Khoo
KUALA LUMPUR, May 5 (Bernama) -- Bursa Malaysia opened marginally lower but turned higher on Monday, buoyed by the positive sentiment of fund inflows by foreign investors throughout last week, analysts said.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.84 points to 1,544.33 from last Friday's close of 1,542.49.
The benchmark index was 0.71 of-a-point easier at 1,541.78 at the opening bell.
Turnover stood at 123.73 million shares worth RM65.76 million.
Market breadth was positive, with 233 gainers outnumbering 90 decliners, 244 counters were unchanged, 1,778 untraded, and 27 suspended.
Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said investors were heartened by the return of foreign buying, which had seen unprecedented outflows since the beginning of 2025.
He said that with the local bourse closing above the 1,540 mark last week, the benchmark index may re-test the 1,600 mark soon.
'As such, we believe the index will trend within the 1,540-1,555 range today. It is also worthwhile to note that the ringgit has strengthened to RM4.26 per US dollar,' Thong told Bernama.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
Indonesian, French firms partner up to develop efuels
JAKARTA: (Bernama-Xinhua) PT Pertamina New & Renewable Energy (NRE), a sub-holding of Indonesia's state-owned oil and gas company PT Pertamina, is collaborating with French firm MGH Energy to explore breakthroughs in the production of e-fuels, an official said on Wednesday (June 4), reported Xinhua. The partnership, formalised during the Indonesia-France Business Forum on May 28, focuses on the development of e-methanol and eSAF (e-sustainable aviation fuel), according to John Anis, CEO of PT Pertamina NRE. "Indonesia has a huge potential of renewable resources, from solar to hydro, which could be the basis for industrial-scale e-fuel production," said Anis in a statement issued Wednesday. He added that this strategic collaboration not only aims to develop innovative solutions for reducing carbon emissions but also represents a valuable opportunity for technology transfer. It is expected to accelerate both the production and adoption of renewable energy in Indonesia. Fadjar Djoko Santoso, vice president of corporate communication at PT Pertamina, emphasised the importance of international cooperation in tackling climate change and achieving national environmental goals. "PT Pertamina NRE plays an important role in the transition to clean energy. This collaboration is a strategic step towards a more sustainable, fair, and open energy system," he said. MGH Energy is known for its focus on decarbonising the transportation sector, particularly in maritime and aviation. - Bernama-Xinhua
Barnama
5 hours ago
- Barnama
CPO Futures Likely To Trade Sideways Next Week Amid Limited Market Catalysts, Shorter Week
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to move sideways next week due to limited market catalysts and a shorter trading week. Palm oil trader David Ng said the lack of fresh trading cues will likely keep the market range-bound in the near term. 'We expect the commodity to trade between RM3,750 and RM3,950 per tonne,' he said. Cargo surveyors expect exports of Malaysian palm oil products during May 1-25 to rise between 7.3 per cent and 11.6 per cent, compared with the same period a month ago. Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said market participants will be keenly watching for May supply and demand estimates from newswire polling and the full month production data from the Malaysian Palm Oil Association, including data from the Malaysian Palm Oil Board (MPOB), due on June 10. On a Friday-to-Friday basis, the spot-month June 2025 contract rose RM64 to RM3,888 per tonne, July 2025 was RM55 higher at RM3,891 per tonne, and August 2025 added RM51 to RM3,878. The September 2025 note rose RM49 to RM3,870 per tonne, October 2025 edged up RM46 to RM3,870, and November 2025 gained RM43 to RM3,874. The weekly trading volume was down to 281,987 lots from 331,960 the previous week, while open interest narrowed to 241,994 contracts from 244,075.
New Straits Times
6 hours ago
- New Straits Times
Ron 97, diesel prices in Peninsular Malaysia down by 3 sen
KUALA LUMPUR: The retail price of RON97 petrol in Peninsular Malaysia will be reduced by three sen to RM3.07 per litre from June 5 to 11, 2025, in line with the drop in global oil market prices, according to the Finance Ministry (MOF). In a statement today, the Finance Ministry also announced that the retail price of diesel in Peninsular Malaysia will similarly be reduced by three sen to RM2.74 per litre for the same period, while the price of RON95 petrol remains unchanged at RM2.05 per litre. "The retail price of diesel in Sabah, Sarawak and Labuan will also remain at RM2.15 per litre," said the ministry. The weekly pricing of petroleum products is determined using the Automatic Pricing Mechanism (APM) formula, taking into account current global crude oil market trends. The statement also noted that the government will continue to take appropriate measures to ensure the welfare and well-being of the people are safeguarded. — BERNAMA
