30-06-2025
Bursa Malaysia rises on growing geopolitical stability
KUALA LUMPUR: Bursa Malaysia tracked Wall Street's bullish Friday performance higher, with investors taking note of easing Middle East tensions and a potential trade deal between the US and China.
On Monday, the domestic benchmark index leapt 5.25 points higher to 1,533.41, continuing the positive momemntum that had taken root last week.
According to TA Securities, the de-escalation in the Israel-Iran conflict is expected to further bolster market sentiment, although gains could be tempered as investors price in revisions to the sales and service tax and electricity tariffs due to come into effect on July 1.
"Immediate resistance remains at 1,564 with next upside hurdles coming from the recent high of 1,586, followed by 1,610 ahead. Immediate index
support is kept at 1,490, with stronger supports found at 1,465 followed by 1,444," said the research firm in its market commentary.
Among the blue chips, there was was buying interest in Nestle, rising RM1.38 to RM78.86, Tenaga Nasional gaining 20 sen to RM14.46 and Press Metal climbing nine sen to RM5.10.
Other notable gainers on the broader market included Frontken jumping 12 sen to RM4.04, United Plantations adding 20 sen to RM21.90 and MPI rising 48 sen to RM21.22.
Of actives, EA Holdings was up 0.5 sen to one sen, Nexgram was flat at 1.5 sen and NexG gained 0.5 sen to 36.5 sen.
