At 5pm, the KLCI was up 39.55 points or 2.53% to 1,602.26 and pushed the 30-stock index back into the positive territory at 0.85% year-to-date.
Turnover on Bursa was 9.18 billion shares valued at RM5.34bil. The stronger positive sentiment saw 760 stocks advancing, 479 losers and 432 counters unchanged.
This was a turnaround from Monday's selldown when the KLCI tumbled 44 points in late trade, mainly due to foreign selling ahead of the upcoming changes to the KLCI index's components and the MSCI Malaysia index.
On Monday, foreign funds were net sellers at RM541mil on Bursa. However, the selling was well absorbed by local institutions which were net buyers at RM357.9mil and local retail investors at RM183.1mil.
A total of RM23.87bil was erased from the KLCI market capitalisation on Monday, reducing it to RM1.014 trillion.
However, Tuesday's rebound on Bursa also mirrored the firmer key Asian markets as Japan's Nikkei 225 rose 1.34%, Hong Kong's Hang Seng Index 0.86%, CSI 300 2.15% higher while the Shanghai Composite gained 1.77%. South Korea's Kospi rose 1.66% and Singapore's Straits Times Index edged up 0.05%.
At Bursa, Maybank rose 29 sen to RM8.19 and added 5.13 points to the KLCI, Public Bank gained 52 sen to RM17.92 and pushed the index up 3.18 points, Hong Leong Bank was up by 72 sen to RM17.90 and CIMB 12 sen to RM3.75.
Tenaga Nasional rose 78 sen to RM10.86 and powered the KLCI up 7.01 points, MISC gained 16 sen to RM6.95, Genting 10 sen to RM4.16 and GentingM six sen to RM2.51.
US light crude oil bounced back 18 cents to US$45.52 and Brent gained 14 cents to US$48.12. Petronas Chemicals rose 60 sen to RM7.02 and 7.56 points to the KLCI, Petronas Dagangan four sen higher at RM20.68 but Petronas Gas lost 36 sen to RM17.80.
Among the glove makers, Hartalega rose six sen to RM14.46. However, Supermax lost 30 sen to RM8.80, Kossan five sen to RM6.18 and Comfort Gloves 13 sen to RM3.86 despite its earnings surge.
Top Glove fell 33 sen to RM6.79 after the government said it had opened an investigation and would take legal action after finding that the firm did not comply with standards for worker accommodation
Press Metal rose 35 sen to a record high of RM7.35 underpinned by the strong global aluminium prices where it reach a two-year high of US$2,045 per tonne. Press Metal's advance added 2.22 points to the KLCI.
Crude palm oil for third month delivery rose RM49 to RM3,354 per tonne. Genting Plantation added 43 sen to RM9.93, IOI Corp eight sen to RM4.45, KL Kepong six sen to RM23.56 while Sime Plantation added 18 sen to RM5.08. PPB Group was flat at RM18.60.
The ringgit weakened against the US dollar to 4.0775, down by 0.09% at 5.10pm.
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