Bursa Malaysia closed higher on April 28. Strong buying in heavyweight stocks lifted the benchmark. The FTSE Bursa Malaysia KLCI (KLCI) rose 12.33 points or 0.72%. It closed at 1,729.60. This came from Monday’s close of 1,717.27. The index opened higher and traded between 1,717.27 and 1,731.79. Trading volume was solid. Gainers outnumbered losers. This marks a positive end to the month amid stabilising oil prices after Iran ceasefire progress.
Movers and Shakers
Heavyweights drove the gains today. Maybank, Public Bank, and CIMB rose on improved risk appetite. Petronas Chemicals and energy-related counters added support. Tech and construction names also saw selective interest. Top losers were limited to a few consumer staples that lagged the rebound. High-volume actives featured banking and cyclicals. Analysts remain constructive. They keep the year-end target at 1,772-1,880 points. Reforms and earnings growth support this.
Policy Changes Impacting KLCI and Malaysia’s Market
No major new announcements today. The Madani government continues its steady “year of implementation” push in 2026. The New Incentive Framework (effective since March 1) ties manufacturing incentives to clear outcomes. The Capital Market Masterplan targets RM6.3 trillion market size by 2030. Budget 2026 measures, including SST expansion and carbon tax, remain on track. GEAR-uP targets RM120 billion investments by 2028, supporting 4.3-4.5% GDP growth. OPR holds steady at 2.75%. Globally, US tariffs on Malaysia stay at 19%, with key exemptions for semiconductors (40% of exports) intact via the October 2025 trade deal.
Other News Potentially Impacting KLCI or Malaysia’s Market
The ringgit held steady near recent highs below RM4/USD, aiding inflows. Oil prices moderated after the latest Iran ceasefire updates. Brent crude hovered around US$85-88 per barrel. This eased immediate inflationary pressure. Malaysian energy companies like Petronas Chemicals, Gas Malaysia, and Hengyuan Refining continue to benefit from stable domestic feedstock advantages. Manufacturing PMI remains strong at a 20-month high of 50.2 in January. Producer prices fell 2.7% in December 2025, signalling contained inflation. Q4 2025 GDP confirmed robust domestic demand. The 2026 growth outlook holds 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.