KUALA LUMPUR: Bursa Malaysia rose 0.71% to end at the day’s high on the back of improving local sentiment and selective buying in index-linked counters following the recent pullback.
At 5pm yesterday, the FBM KLCI advanced 12.33 points to 1,729.60 from Monday’s close of 1,717.27.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets were mixed as focus remained on the West Asia conflict and upcoming US mega cap earnings.
Market breadth was marginally positive, with gainers edging out losers 629 to 626. Turnover inched up to 3.85 billion units worth RM3.38bil compared with 3.74 billion units valued at RM3.3bil on Monday.
Thong told Bernama that the FBM KLCI is holding above the 1,700 level, rebounding from around 1,680 last week, suggesting that investors are beginning to accumulate on dips, although the upside may be capped as the index tests the 1,730 resistance zone.
