At 5pm, the benchmark index closed at 1,792.60, up 7.35 points. The market traded within a range of 15.51 points between an intra-day high of 1,792.96 and a low of 1,777.45 during the session. The index opened 1.7 points higher at 1,786.95 this morning.
Turnover was 2.37 billion shares valued at RM2.57bil. There were 478 stocks advancing against 405 stocks declining while 380 counters unchanged.
Dealers said market sentiment picked up today following news of a proposed fresh round of trade talks between China and the United States.
China’s Foreign Ministry said on Thursday that the government has received an invitation from the US for trade talks, and welcomes it.
Stock markets rallied in China and Hong Kong and the Chinese yuan firmed after the Trump administration invited Beijing to restart trade talks, Reuters reported.
The benchmark Shanghai Composite index ended 1.1% higher at 2,686.58 points after closing at its lowest level since January 2016 on Wednesday.
In Hong Kong, the Hang Seng index posted its strongest daily gain since May 25, 2016, up 2.5% to 27,014.49.
Japan’s Nikkei 225 rose 1% to 22,821.32, the highest closing level since August 31 while South Korea’s Kospi gained 0.18% to 2,286.95.
On Bursa Malaysia, United Plantations was the top gainer, rising RM1.20 to RM27.80. Ajinomoto gained 84 sen to RM21.96 while Panasonic Manufacturing rose 24 sen to RM39.
Carlsberg is the top loser of the day, declining 50 sen to RM19.70. Heineken Malaysia fell 40 sen to RM20.30 and PLS Plantations eased 30 sen to 82 sen.
Movers in the KLCI component stocks included CIMB, which rose 19 sen to RM6.09, Axiata gained 12 sen to RM4.55 and Maybank advanced eight sen to RM9.88.