KUALA LUMPUR: The FBM KLCI staged a rebound on Wednesday to close at its highest in a month, as investors collected oversold stocks following the recent selldown.
At 5pm, the bellwether index rose 7.93 points, or 0.5% to 1,604.72, its highest since March 3.
Across Bursa Malaysia, gainers led losers 601 to 435 while 405 counters traded unchanged. Turnover stood at 3.42 billion shares worth RM2.46bil.
Dealers said the local bourse is in a recovery mood following the recent selldown.
In today’s session, 18 of the KLCI-component stocks were traded higher while 10 counters declined while two counters remained unchanged.
Kuala Lumpur Kepong led the mover on the index as the biggest gainer and closed up 72 sen to RM26.72.
Nestle gained 70 sen to RM135.50, Petronas Dagangan rose 46 sen to RM21.90 and MISC advanced 29 sen to RM7.76.
Laggards among the KLCI component stocks included Hong Leong Financial Group, Inari, MR DIY and Top Glove.
On the broader market, Transocean closed up 53 sen to RM3.28. The company was slapped with an unusual market activity (UMA) query by Bursa Malaysia following a recent sharp rise in its share price and trading volume.
Heineken added 36 sen to RM22.56 and F&N gained 36 sen to RM21.62.
BLD Plantation fell 44 sen to RM8.98, Malaysian Pacific Industries eased 42 sen to RM36.70 and Aeon Credit declined 36 sen to RM14.94.
Elsewhere in the region, Japan’s Nikkei 225 closed down 1.58%, South Korea’s Kospi eased 0.88%, China’s Shanghai Composite Index gained 0.02% and Hong Kong’s Hang Seng Index fell 1.87%.