KUALA LUMPUR: Bursa Malaysia ended higher on Thursday, buoyed by buying interest in blue-chip stocks amid a broader rally across regional markets.
The FBM KLCI closed 5.39 points, or 0.31%, higher at 1,736.71, easing from an intraday high of 1,739.13, supported by buying interest in YTL Corp and YTL Power.
Losers outpaced gainers 610 to 577, while 610 counters traded unchanged. Trading activity was brisk, with volume topping the four-billion mark at 4.28 billion shares, valued at RM4.01bil.
Dealers noted that trading activity was encouraging, with volume exceeding four billion shares, although the broader market remained mixed as decliners continued to outnumber gainers.
They said investors were also keeping a close watch on the ongoing corporate earnings season for fresh catalysts, with buying interest likely to remain selective as more companies release their quarterly results.
Among the gainers, Nestlé rose 80 sen to RM104.80, YTL Power added 28 sen to RM5.16, MN Holdings advanced 25 sen to RM3.64, PPB Group climbed 22 sen to RM9.90 and YTL Corp inched up 21 sen to RM2.43.
Malaysian Pacific Industries
led the decliners, sliding 80 sen to RM45.30. Hong Leong Industries fell 38 sen to RM17.58, PETRONAS Chemicals shed 32 sen to RM4.37 and Dutch Lady lost 26 sen to RM31.68.
According to Bursa Malaysia data, foreign investors disposed of RM125mil worth of equities on Wednesday. Local institutions and retail investors were net buyers, with net purchases of RM42mil and RM83mil, respectively.
Meanwhile, oil prices climbed to a three-week high amid concerns over Middle East supply disruptions as the war remained at an impasse.
Brent crude rose US$2.02, or 2.2%, to US$93.64 a barrel, while US West Texas Intermediate crude gained US$1.73, or 2.02%, to US$87.56 a barrel.
Across regional markets, MSCI’s Asia ex-Japan stock index rose 2.23%, with most regional bourses ending higher.
Japan’s Nikkei 225 closed up 1.36% to 66,216.79 while South Korea’s Kospi jumped 5.89% to 6,852.58.
Taiwan’s TAIEX gained 0.48% to 44,933.74 and Hong Kong’s Hang Seng Index rose 0.8% to 25,698.49.
In China, the CSI 300 Index climbed 0.09% to 4,592.75, while the Shanghai Composite Index edged up 0.246% to 3,903.72.
