KUALA LUMPUR: The FBM KLCI clawed back the 1,700 psychological level on Wednesday, rebounding after three consecutive sessions of losses.
The 30-stock index closed 6.75 points, or 0.4%, higher at 1,705.81, recovering from an intraday low of 1,693.95 and reaching an intraday high of 1,708.62.
On Bursa Malaysia, there were 591 gainers, 443 losers and 567 counters unchanged, with turnover of 2.94 billion shares valued at RM3.14bil.
Dealers said the rebound was driven by bargain hunting at lower levels, while buying interest remained selective, with gains largely supported by heavyweight stocks despite mixed regional cues.
Hong Leong Financial Group was the top gainer, jumping 56 sen to RM20.84, followed by Dutch Lady
, which added 50 sen to RM31.78, F&N, which rose 44 sen to RM36.16 and Malaysian Pacific Industries, which climbed 44 sen to RM34.
Among the decliners, United Plantations slid 76 sen to RM30.30, Nestle lost 40 sen to RM115.60, BLD Plantation fell 30 sen to RM15.30 and Far East Holdings declined 25 sen to RM3.95.
According to data on Bursa Malaysia, foreign investors and local retailers disposed of RM17mil and RM25mil worth of equities, respectively, on Tuesday, while local institutions acquired equities worth RM43mil.
On the external front, Japan’s Nikkei 225 ended 0.41% lower at 52,774.64, while other major Asian markets closed higher.
South Korea’s Kospi rose 0.49% to 4,909.93 and Hong Kong’s Hang Seng Index gained 0.37% to 26,585.06.
China’s CSI300 Index and Shanghai Composite Index both edged up 0.08% to 4,723.07 and 4,116.94, respectively.
