Bursa hits fresh high since mid-October 2018, KLCI up 1.4%
Bursa Malaysia extended its upward momentum to close at its highest level in more than seven years, supported by strong buying interest in blue-chip stocks from both local institutional and foreign ...
Source: Free Malaysia Today · July 26, 2026 at 2:08 PM · AI-assisted report
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KUALA LUMPUR, 26 JULY 2026 —
Bursa Malaysia extended its upward momentum to close at its highest level in more than seven years, supported by strong buying interest in blue-chip stocks from both local institutional and foreign investors. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) soared 24.08 points or 1.40% to 1,744.07, surpassing its previous peak of 1,740.59 on October 17, 2018.
Market Impact
The upward trend was driven by broad-based buying interest, with sentiment still skewed to the upside, according to Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng. He noted that the benchmark index remains firmly on an upward path after breaking several key historical levels and reaching fresh multi-year highs. However, Thong cautioned that some profit-taking may emerge after several sessions of strong gains.
As long as the index holds above the 1,700-1,720 support zone, the next leg higher remains intact, he added, expecting the FBM KLCI to trade within the 1,720-1,750 range this week.
The strengthening of the ringgit, which has appreciated to RM3.97 against the US dollar, further lifted overall market sentiment. IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan attributed the equity rally to a currency-led sequencing, where investors are recalibrating Malaysia's risk premium and positioning for a more durable, fundamentals-based repricing rather than chasing short-term gains.
Sedek opined that the FBM KLCI's outstanding performance resulted from global fund managers' continued increase in exposure to Malaysian equities, reflecting a reassessment of Malaysia's macroeconomic and policy fundamentals.
The FBM KLCI's outperformance stood out against a mixed regional backdrop as investors assessed ongoing geopolitical developments and trade-related uncertainties. At 5 pm, the index opened 1.64 points firmer at 1,721.63, its lowest level in early trade, before moving in an upward trajectory to its intraday high of 1,746.98 during the mid-afternoon session. However, market breadth was negative with decliners outnumbering gainers 631 to 591, while 498 counters were unchanged, 1,008 untraded, and 39 suspended.
Turnover improved to 3.5 billion units worth RM4.07 billion from last Friday's 3.4 billion units worth RM3.49 billion. Among heavyweights, Maybank added 14 sen to RM11.50, Public Bank gained nine sen to RM4.87, CIMB advanced 32 sen to RM8.62, Tenaga Nasional increased 18 sen to RM13.98, and IHH Healthcare rose six sen to RM8.66.
Top gainers included Nestle, which advanced 80 sen to RM116, Dutch Lady Milk Industries gained 78 sen to RM33.12, while Hong Leong Bank and BLD Plantation improved 50 sen each to RM24.50 and RM15.80, respectively.
On the index board, the FBM Top 100 Index gained 144.37 points to 12,600.17, the FBM Emas Index rose 138.61 points to 12,799.15, the FBM Mid 70 Index climbed 68.61 points to 17,630.83, and the FBM Emas Shariah Index increased 90.74 points to 12,400.39, while the FBM ACE Index eased 56.34 points to 4,848.71.
Sector-wise, the financial services index jumped 394.06 points to 21,197.23, the industrial products and services index edged up 0.79 of-a-point to 177.28, the plantation index surged 75.37 points to 8,445.14, and the energy index eased 4.52 points to 764.86.
The Main Market volume expanded to 2.06 billion units worth RM3.76 billion from last Friday's 1.92 billion units worth RM3.22 billion. Warrants turnover swelled to 999.45 million units worth RM132.75 million from 980.15 million units worth RM109.52 million previously. The ACE Market volume declined to 439.3 million units worth RM174.57 million from 500.36 million units worth RM153.45 million last Friday.
Consumer products and services counters accounted for 471.15 million shares traded on the Main Market, industrial products and services (355.04 million), construction (157.69 million), technology (237.97 million), financial services (160.01 million), property (271.48 million), plantation (25.81 million), real estate investment trusts (30.06 million), closed-end fund (663,600), energy (111.89 million), healthcare (118.05 million), telecommunications and media (30.4 million), transportation and logistics (55.19 million), utilities (35.41 million), and business trusts (167,100).
Looking ahead, the FBM KLCI is expected to continue its upward trend, driven by strong buying interest in blue-chip stocks and a positive market sentiment. However, investors will be closely watching the market's reaction to ongoing geopolitical developments and trade-related uncertainties. With the index trading within the 1,720-1,750 range, investors are advised to remain cautious and monitor the market's movement closely.
As the market continues to reach new highs, it is essential for investors to reassess their investment strategies and adjust their portfolios accordingly.
Related: Bursa Malaysia · Thong Pak Leng