KUALA LUMPUR: The FBM KLCI closed at its highest in almost two weeks on Monday, as investors' risk appetite improved.
The 30-stock index closed up 12.87 points, or 0.87% at 1,493.42, it's intraday high. It is also the highest since Dec 30. All indices closed in positive territory, except healthcare and telecommunications and media.
The market’s breadth was positive with more stocks ending higher. Specifically, 589 counters closed higher while 377 ended lower. Turnover stood at 3.17 billion shares valued at RM1.92bil.
Dealers said expectations for a slowdown in the Federal Reserve's monetary tightening as well as the reopening of China’s borders injected some optimism into the local bourse.
Hextar Technologies, the top gainer on Bursa Malaysia, surged RM5, or 20.59% to RM29.28 with 320,100 shares traded. In the past one month, the counter has risen a whopping 121%.
Malaysian Pacific Industries
rose RM1.16 to RM31.16, Ajinomoto added 46 sen to RM14.16 and PETRONAS Dagangan gained 40 sen to RM22.70.
Among the decliners, Sunmow shed 29 sen to 61 sen, KESM lost 26 sen to RM6.72, Kotra eased 20 sen to RM6.10 and Chin Teck Plantations declined 20 sen to RM8.44.
Meanwhile, regional markets closed higher. Hong Kong’s Hang Seng rose 1.89% to settle at 21,388.34, while China’s Shanghai Composite was up 0.6% to 3,176.08.
South Korea’s Kospi also advanced 2.63% to 2,350.19 and Japan’s Nikkei 225 rose 0.6% to 25,973.85.
US West Texas Intermediate crude added US$2.25 to US$76.02 and Brent gained US$2.28 to US$80.85 per barrel.
