Bursa Malaysia nudges higher as Asian markets rally on US tech gains

Bursa Malaysia ended the session slightly higher, with the FTSE Bursa Malaysia KLCI finishing at 1,633.35 after opening at 1,636.38. The rise aligned with gains in major Asian markets spurred by a technology-led rally on Wall Street, where the S&P 500 and Nasdaq posted gains of 0.66% and 1.05% respectively. However, US 10-year Treasury yields touched 5.349%, the highest level since 2002, and the 30-year yield briefly reached 5.703%, curbing risk appetite.

Local equity research highlighted interest in telecom, commodity-related shares and a handful of small-cap technology, energy and plantation stocks, while noting that limited follow-through buying suggests investors remain wary. Falling Brent crude below US$100 per barrel and expectations around the upcoming Budget 2027, which will focus on sectors such as semiconductors, AI and energy transition, were seen as supportive factors. The benchmark is expected to stay in a consolidation range of 1,620-1,650 for the week.