KUALA LUMPUR: Bursa Malaysia bucked the regional downtrend to close higher on Tuesday, snapping a three-day losing streak on bargain-hunting activity.
The FBM KLCI rose 3.83 points, or 0.24%, to 1,599.58, snapping three consecutive sessions of losses. The index crossed the 1,600-point mark during the session, hitting an intraday high of 1,602.83.
The broader market remained weak, with losers outnumbering gainers 751 to 331, while 499 counters were unchanged. Trading volume stood at 2.87 billion shares worth RM2.42bil.
Among the top gainers, LPI Capital rose 14 sen to RM12.90, Genting Plantations gained 12 sen to RM5.22, Mega Fortris added 11 sen to RM3.26, while Ayer and Coastal Contracts
advanced 10 sen each to RM7.95 and RM1.70, respectively.
In contrast, Dutch Lady fell 44 sen to RM28.32, Kuala Lumpur Kepong shed 38 sen to RM19.78, UWC declined 34 sen to RM6.96, while Hong Leong Industries and Malaysian Pacific Industries lost 30 sen each to RM16.10 and RM40.02, respectively.
According to Bursa Malaysia data, foreign investors and retail investors were net buyers of local equities on Monday, purchasing RM57mil and RM20mil worth of shares, respectively, while local institutions were net sellers at RM78mil.
Meanwhile, oil prices rose, with Brent near a five-month high amid geopolitical tensions following Houthi attacks on Saudi infrastructure and reported vessel attacks in the Gulf, Reuters reported.
Brent crude rose US$1.23, or 1.12%, to US$110.78 a barrel, while US crude gained US$3.33, or 3.21%, to US$106.99 a barrel.
Across the region, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.5%.
Japan's Nikkei 225 shed 1.3% to 64,075.42, while South Korea's Kospi tumbled 3.73% to 5,552.74, its lowest close in more than six months.
Hong Kong's Hang Seng declined 1.32% to 23,867.74, while Taiwan's Taiex slipped 1.13% to 46,292.93 and Singapore’s Straits Times Index fell 0.34% to 5,393.48.
China's blue-chip CSI300 Index fell 0.54% to 4,152.11, while the Shanghai Composite Index edged up 0.12% to 3,735.37.
Meanwhile, Indonesian stocks rebounded 5.7% from a six-year closing low after MSCI warned last week of a potential downgrade in its classification.
