Bursa Malaysia ends higher after volatile trading

KUALA LUMPUR: Shares on Bursa Malaysia rose in see-saw trade on Tuesday as investors picked up bargains, although market sentiment remained fragile.

The FBM KLCI closed up 2.55 points, or 0.17% to 1,530.44. It has risen to an intraday high of 1,533.11.

Broader market sentiment remained weak, with 538 losers outpacing 436 gainers and 469 counters which traded unchanged. Turnover was at 4.71 billion shares valued at RM2.86bil.

Dealers said market sentiment remained fragile on worries about the impact of debt troubles at China Evergrande loomed. They added that investors should use the latest bout of market weakness to accumulate battered stocks.

Investors are also nervous ahead of the Federal Reserve's policy meeting this week.

Reuters reported that Hong Kong’s Hang Seng index, which sank in the morning trade to its lowest level since last October, finished the day up 0.51% at 24,221.54.

Japan’s Nikkei 225 dropped 2.17% to close at 29,839.71, marking its biggest fall since June 21.

South Korea’s Kospi closed up 10.42 points, or 0.33%, at 3,140.51.

According to data on Bursa Malaysia, foreign investors and local institutions sold equities worth RM121mil and RM17mil respectively on Monday. Retailers acquired equities worth RM138mil.

On Bursa Malaysia, PMB Technology surged RM2.56 to RM11.86. ViTrox jumped 94 sen to RM19.94, MPI added 86 sen to RM45.06 and Khind advanced 41 sen.

Dutch Lady, Genetec, Hartalega and F&N are among the top losers on Bursa Malaysia.

Among the gloves, Hartalega fell 22 sen to RM5.88, Top Glove lost 14 sen to RM2.67, Supermax dropped seven sen to RM2.37 and Kossan declined eight sen to RM2.37.

Meanwhile, the ringgit was quoted at 4.1850, up 0.19% against the US dollar.

US light crude oil rose US$1.06 to US$71.35 a barrel and Brent added US$1.10 to US$75.02 per barrel.

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