BURSA Malaysia closed 0.76% higher Wednesday, boosted by improved market sentiment across the region, as buying support emerged primarily in banking, gaming and glove stocks.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 12.07 points better at 1,597.88 from 1,585.81 at Tuesday’s close.
The key index opened 2.97 points better at 1,588.78, to record its intraday low, and hit a high of 1,601.83 about half an hour before the trading session ended.
On the broader market, gainers thumped loser 701 to 322, while 417 counters were unchanged, 863 untraded, and 13 others suspended.
Total turnover improved to 3.55 billion units valued at RM2.64 bil from 3.09 billion units valued at RM2.84 bil on Tuesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse tracked the better performance of regional equities following the overnight gains on Wall Street.
“We are cautiously optimistic given the improvement in local market sentiment and foreign support, while on the other hand, investors should stay alert on the increasing market volatility and external uncertainties,” he told Bernama.
For the remainder of the week, Thong anticipated the FBM KLCI to test the 1,600 psychological level.
“After breaking the 1,600 level, we see the next resistance at 1,620 and support at 1,580,” he added.
Regionally, Japan’s Nikkei 225 increased 3% to 28,040.16, Hong Kong’s Hang Seng rose 1.21% to 22,154.08, South Korea’s Kospi gained 0.92% to 2,735.05, while Singapore’s Straits Times Index rose 0.42% to 3,364.26.
Local heavyweights, Maybank added 11 sen at RM8.94, Public Bank and IHH gained 3 sen each to RM4.65 and RM6.54, respectively, while, Petronas Chemicals and Tenaga perked up 1 sen each to RM9.59 and RM9.29, respectively.
Of the actives, CSH and AT Systematization improved half-a-sen to 16.5 sen and 2.5 sen, respectively, XOX and Pasukhas were both flat at 2 sen, respectively, while Fitters lost 2 sen to 15 sen, and Sapura Energy eased half-a-sen to 3 sen.
Top gainers, MPI was RM1.90 higher at RM38, Petronas Dagangan was 46 sen better at RM21.50, Hong Leong Bank rose 34 sen to RM20.50, and Sam Engineering put on 30 sen to RM4.88.
