Valuation of FBM KLCI remains attractive accompanied by the improving economic conditions.
KUALA LUMPUR: Shares on Bursa Malaysia closed broadly higher with buying mainly in the construction, property, utilities and technology sectors, analysts say.
At 5pm, the FBM KLCI gained 0.63% or 9.95 points to 1,574.51, compared with Tuesday’s close of 1,564.56.
The benchmark index, which opened 1.07 points higher at 1,565.63, moved between 1,564.43 and 1,576.45 throughout the day.
On the broader market, gainers outnumbered decliners 622 to 345, while 493 counters were unchanged, 840 untraded and 10 suspended.
Turnover improved to 2.86 billion units worth RM2.32bil compared with 2.23 billion units valued at RM2.05bil on Tuesday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said, however, the key regional markets saw a mixed performance at the close.
This reflected investor uncertainty over the economic impact of new US-China tariffs.
Back home, the online equities broker said the valuation of FBM KLCI remains attractive accompanied by the improving economic conditions.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan told Bernama the FBM KLCI’s positive performance was also supported by bargain hunting in data centre-related stocks.
However, trading volume remained weak as investors stayed cautious, awaiting further developments on US president Donald Trump’s tariff policies.
