Bursa Malaysia started the week on a positive note, with the FBM KLCI surging past the 1,600-point threshold, thanks to robust gains in blue-chip stocks. The benchmark index, which opened at 1,598.53 points, quickly climbed to an all-day high of 1,609.57 points within the first 30 minutes of trading, reflecting investor confidence in the market's resilience.
The market's upward momentum was particularly evident in the utility sector, which saw a significant rebound. The sector, buoyed by strong performances from leading companies such as Yang Zhongli, posted a 2.8% increase. The overall bullish sentiment drove the FBM KLCI to close at 1,606.66 points, marking a 10.61-point or 0.67% gain for the day.
Throughout the trading day, a total of 4.01 billion shares changed hands, amounting to a transaction value of RM2.92 billion. The broader market also reflected the upbeat sentiment, with the FBM All-Share Index closing at 12,255.22 points, up 80.05 points. In terms of market breadth, 646 stocks advanced, 406 declined, while 522 remained unchanged, and 868 stocks saw no trading activity.
Despite the market's strong performance, the ringgit weakened slightly against the US dollar, closing at 4.4555.