KUALA LUMPUR: Share prices on Bursa Malaysia extended their gains to close higher on Wednesday on continued buying in index-linked stocks, amid a positive market undertone.
At closing, the FBM KLCI closed 18.58 points, or 1.18% higher at 1,588.45. It opened 7.03 points higher at 1,576.90 this morning. The index has fallen some 2.4% so far this year.
Gainers overpowered losers on a ratio of 631-to-559 stocks. Traded volumes stood at 10.78 billion valued at RM6.18bil.
Foreign funds bring support to the market as local institutions continue to sell. Stock market data showed foreign investors were net buyers at RMRM240mil and retail investors at RM23mil on Tuesday. Local institutional investors sold RM263mil worth of equities on Bursa Malaysia.
Among the 30 FBM KLCI constituents, 21 stocks were higher; five were lower while four traded flat.
Nestle, which jumped RM1.60 to RM138, led the winners’ list on Bursa Malaysia, followed by Supermax, LPI, Hartalega and Top Glove.
Supermax rose 55 sen to RM4.66, Hartalega added 44 sen to RM9.85 and Top Glove gained 34 sen to RM5.09.
The top three decliners were Carlsberg, AmBank, Rapid and Greatech. Carlsberg shed 60 sen to RM23.08, AmBank declined 36 sen to RM2.80, Rapid fell 29 sen to RM6.86 and Greatechlost 23 sen to RM5.77.
Among the banks, Maybank added six sen to RM8.14, Public Bank closed unchanged at RM4.22, Hong Leong Bank gained two sen to RM18.02 and CIMB rose one sen to RM4.29.
Market sentiment was supported also by firmer key regional markets.
Japan’s Nikkei 255 rose 0.51% to close at 29,559.10, while the broader Topix gained 0.51% to 1,904.54.
South Korea’s Kospi closed 39.12 points, or 1.29%, higher at 3,082.99.
Hong Kong’s Hang Seng rose 1.7% to 29,587.74.
China’s CSI300 index jumped 1.9% to 5,452.21, while the Shanghai Composite Index gained 2% to 3,576.90 points.