KUALA LUMPUR: The FBM KLCI ended the day in positive territory as investors jumped in to scoop up battered stocks following the recent weakness.
The benchmark index closed up 4.45 points, or 0.3% at 1,495.78. The index had earlier risen to a high of 1,498.92.
There were 517 gainers against 435 decliners while 450 counters were unchanged. About 4.68 billion shares, valued at RM2.42bil, changed hands.
Dealers said the local bourse saw modest gains as bargain hunting activities emerged after the heavy selloff in the previous session.
However, they said market sentiment may remain cautious amid uncertainties surrounding the recent political developments.
According to data on Bursa Malaysia, foreign investors disposed of RM80mil of local equities on Wednesday.
Local institutions sold RM33mil of equities while retailers acquired RM112mil worth of equities yesterday.
Among the FBM KLCI component stocks, Nestle jumped 90 sen to RM133.90, Petronas Dagangan rose 30 sen to RM18.70, Hong Leong Financial Group added 24 sen to RM17.40, Hong Leong Bnk gained 12 sen to RM18.30 and Digi climbed 11 sen to RM4.30.
Key losers on the FBM KLCI were Tenaga Nasional which lost 11 sen to RM9.72, followed by Kuala Lumpur Kepong fell 10 sen to RM19.20 and Genting Malaysia shed four sen to RM2.68.
On the broader market, Sam Engineering surged RM1.68 to RM12.28, F&N jumped RM1.06 to RM25.50, MPI rose 50 sen to RM45.60 and Unisem gained 45 sen to RM9.14.
Meanwhile, regional markets closed lower. Hong Kong’s Hang Seng fell 0.84% to settle at 26,204.69, while China’s Shanghai Composite was down 0.3% to 3,466.55.
South Korea’s Kospi also slid 0.13% to 3,276.13 and Japan’s Nikkei 225 rose 0.52% to 27,728.12.