Bursa Malaysia ended the day on a firmer note on April 16. Renewed bargain hunting and a slight recovery in regional markets helped the benchmark index. The FTSE Bursa Malaysia KLCI (KLCI) rose 9.84 points or 0.58%. It closed at 1,699.55. The index opened at 1,692.80 and traded in a range between 1,690.45 and 1,702.10. Trading volume was steady. Gainers comfortably outnumbered losers. This rebound comes as oil prices moderated further following diplomatic progress on the Iran situation.
Movers and Shakers
The KLCI’s advance was led by banking and industrial heavyweights. Notable top gainers included:
- Maybank: Up 18 sen to RM11.20 on improved risk appetite.
- CIMB Group: Rose 14 sen to RM7.92.
- Gamuda: Gained 12 sen to RM4.28 amid ongoing infrastructure optimism.
- Sunway: Added 10 sen to RM5.42 on construction momentum.
- Yinson Holdings: Increased 8 sen on energy services demand.
Top losers were mostly in consumer staples and selected plantations. High-volume actives included banking, construction, and selected energy-related counters. Analysts remain constructive, maintaining a year-end target range of 1,772-1,880 points.
Policy Changes Impacting KLCI and Malaysia’s Market
No major new announcements today. The government continues steady implementation of the 13MP and the New Incentive Framework (effective since March 1). Budget 2026 measures, including SST expansion and carbon tax, remain on track. GEAR-uP continues targeting RM120 billion in investments by 2028 to support 4.3-4.5% GDP growth. OPR remains unchanged at 2.75%. Globally, US tariffs on Malaysia stay at 19%, with existing exemptions for semiconductors and key exports intact via the October 2025 trade deal.
Other News Potentially Impacting KLCI or Malaysia’s Market
The ringgit held steady near recent multi-year highs below RM4/USD, supporting continued foreign inflows. Brent crude moderated to around US$87 per barrel after the latest Iran ceasefire updates. This eased immediate inflationary pressure. Malaysian energy companies like Petronas Chemicals, Gas Malaysia, and Hengyuan Refining continue to enjoy relatively stable margins due to domestic feedstock advantages, even as global oil prices fluctuate. Q4 2025 GDP data confirmed strong domestic demand. The 2026 growth outlook remains at 4.3-4.5%. AI data centres, renewables M&A, and industrial property activity stay as key positive themes. Sukuk issuance remains robust.
Overall, the KLCI demonstrated resilience today. Domestic buying interest and moderating oil prices provided support. External risks remain, but local fundamentals continue to anchor the market.