FBM KLCI closes at intraday high on US tariff reprieve

KUALA LUMPUR: The FBM KLCI ended at an intra-day high on Monday, supported by broad-based buying interest and in line with the upbeat performance of its regional peers.

The positive momentum was driven by improved investor sentiment across Asian markets, following the United States' decision to exclude smartphones and other electronics from steep tariffs.

At 5pm, the 30-stock index was up 26.10 points, or 1.79% to 1,480.86, its intraday high. All indices on Bursa Malaysia ended higher, except for the Bursa Malaysia Healthcare (REIT) Index.

Across the broader market, gainers outnumbered decliners 798 to 248, with almost three shares worth RM3bil transacted.

Malaysian Pacific Industries, the biggest gainer on Bursa Malaysia jumped 92 sen to RM15.72. F&N added 86 sen to RM24.88, Kuala Lumpur Kepong rose 60 sen to RM20.12 and Allianz climbed 32 sen to RM17.38.

Among the decliners, Nestle slid 62 sen to RM78.50, Heineken fell 30 sen to RM26, Panasonic Manufacturing eased 28 sen to RM13 and Dutch Lady lost 24 sen to RM13.

On the forex market, the ringgit rose 0.14% against the US dollar to 4.4172 but slipped 0.11% against the Singapore dollar to 3.3594.

Major regional indexes closed higher, with Japan’s Nikkei 225 rising 1.18% to 33,982.36, while South Korea’s Kospi gained 0.95% to 2,455.89.

Hong Kong’s Hang Seng Index gained 2.4% to 21,417.40. China’s CSI 300 Index rose 0.23% to 3,759.14 and Shanghai Composite Index climbed 0.796% to 3,262.81.