KUALA LUMPUR: The FBM KLCI closed sharply higher on Wednesday as bargain-hunting emerged following losses in the previous session, amid a mixed performance in regional bourses.
The 30-stock index jumped 24.66 points, or 1.63%, to 1,540.22 — its intraday high and the highest level in a month. It was the biggest gain since a 1.79% rise on April 14. The index has risen 1.76% so far this month.
Across the broader market, gainers outnumbered decliners 559 to 364, with 2.57 billion shares worth RM2.25bil transacted.
The FBM KLCI-component stocks were overwhelmingly positive, with 29 gainers and only one decliner.
PETRONAS Chemicals contributed the most to the index gain and had the largest move, increasing 5.76% or 20 sen to RM3.67.
On the other hand, QL Resources was the biggest drag on the index and had the biggest drop, declining 0.2%, or one sen to RM4.80.
On the broader market, F&N jumped 78 sen to RM27, Allianz rose 26 sen to RM18.40, and Country View gained 24 sen to RM2.33. Meanwhile, Bintulu Port slid 20 sen to RM5.24, Scientex fell 13 sen to RM3.50, and Bursa Malaysia declined 12 sen to RM7.38.
Meanwhile, the ringgit rose 0.27% against the US dollar to 4.3158 — its highest in about six months. It has gained 3.65% against the greenback so far.
Stock market data showed that on Tuesday, foreign investors and local retailers were net buyers of equities worth RM51mil and RM22mil, respectively, while local institutions were net sellers with RM73mil.
Major regional indexes closed mixed, with Japan’s Nikkei 225 rising 0.57%, South Korea’s Kospi falling 0.34%, and Hong Kong’s Hang Seng Index gaining 0.51%.
China’s CSI 300 Index slipped 0.12%, while the Shanghai Composite Index fell 0.23%.
