The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week higher, extending its gains for a second straight week as improving regional sentiment, easing geopolitical concerns and continued buying in selected blue chips lifted Bursa Malaysia.
The FBM KLCI closed at 1,758.85 on May 7, up about 1.6% from 1,731.14 a week earlier, after climbing steadily through most of the shortened trading week before profit-taking emerged on May 8.
Bursa Malaysia kicked off the week strongly on May 4, with the benchmark index jumping 17.75 points, or 1.03%, to 1,739.77, marking its biggest daily gain in nearly a month amid a regional rally led by technology and artificial intelligence-related stocks.
Momentum continued midweek as easing tensions in West Asia and optimism over global risk appetite pushed the FBM KLCI to 1,756.87 on May 6. Banking counters also provided support after Bank Negara Malaysia kept the Overnight Policy Rate unchanged, helping the index edge higher to 1,758.85 on May 7.
However, the local bourse ended May 8 on a softer note, with the FBM KLCI slipping 0.61% to 1,748.06 as investors locked in gains following the market’s recent advance.
