BURSA Malaysia staged a swift comeback to close higher on Tuesday, driven by bargain hunting amid a recovery in most regional peers after facing a global stock-market rout in the previous session, said a dealer.
Japan’s Nikkei 225 rebounded 3,217.04 points or 10.23 per cent to 34,675.46 compared to yesterday’s massive losses of over 4,000 points, the worst since 1987.
The Shanghai SSE Composite Index was up by 0.23 per cent to 2,867.28 and Indonesia’s IDX Composite increased by 1.31 per cent to 7,151.80.
Back home, at 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) soared 37.91 points or 2.46 per cent to its intraday high of 1,574.39 compared with Monday’s close of 1,536.48.
The market bellwether opened 5.66 points higher at 1,542.14 and thereafter slipped to its day’s low of 1,529.09 before moving in an upward trajectory for the rest of the day.
On the broader market, gainers thumped decliners 1,083 to 309, with 348 counters unchanged, 665 untraded, and seven others suspended.
Turnover decreased to 6.39 billion units worth RM5.31 bil from Monday’s 9.26 billion units worth RM7.97 bil. – Aug 6, 2024
