Soaring gold prices boost buying interest — gold funds jump at the open.

(Kuala Lumpur, Jan 29)
Most Asian equities opened lower this morning, and Malaysian stocks followed suit. As of 9:15 a.m., the FTSE Bursa Malaysia KLCI stood at 1,744.35, down 12.14 points or 0.69%.

The benchmark opened at 1,753.31 but weakened soon after, quickly slipping below the 1,750 level and easing to around 1,744.35.

Early trading saw volume at about 263.18 million shares with a turnover of roughly RM207.15 million. Market breadth was negative, with 167 gainers, 298 losers, and 396 counters unchanged.

Tracking the recent rise in gold prices, the TradePlus Gold Tracker (GOLDETF, 0828EA) attracted strong buying interest and jumped 31 sen, or 4.93%, to RM6.60—making it the second-largest gainer.

REITs edge higher after results

Meanwhile, AXREIT (5106) and IGB REIT (5227) traded higher after delivering solid results yesterday.

AXREIT reported a 47.09% year-on-year increase in net profit to RM133.87 million for its 4QFY2025 (ended Dec 31). Revenue rose 4% to RM91.31 million, while net property income slipped 1.8% to RM78.22 million. The stock rose 3 sen, or 1.52%, to RM2.01.

IGB REIT posted a 14.66% year-on-year rise in net profit to RM365.78 million. Revenue surged 31.61% to RM208.33 million, and net property income jumped 44.30% to RM157.70 million. The stock gained 4 sen, or 1.40%, to RM2.90.