KUALA LUMPUR: Late buying interest lifted the FBM KLCI back above the psychological 1,600-point level on Wednesday, extending gains for a second consecutive session.
The FBM KLCI rose 2.69 points, or 0.17%, to 1,602.27. The index traded within a 7.44-point range, between an intraday high of 1,604.13 and a low of 1,596.69.
Market breadth was positive, with 626 gainers outpacing 416 losers, while 502 counters were unchanged. Trading volume stood at 2.76 billion shares valued at RM2.58bil.
Dealers said market sentiment picked up today. However, they said it remains to be seen whether the gains can be sustained. They added that investors were awaiting fresh positive catalysts to drive the market higher and sustain the upward momentum.
ACE Market debutant NWE Resources Group closed flat at 20 sen. It was the most active counter on Bursa Malaysia with 21.67 million shares traded.
Semiconductor and technology stocks were among Bursa Malaysia's top gainers, led by ViTrox, which surged 38 sen to RM10.68, followed by UWC, up 34 sen to RM7.30.
Other technology-related gainers included MI Technovation, which rose 25 sen to RM6.63, and Frontken Corp, which added 24 sen to RM5.19.
Among the decliners, Nestle was the biggest loser, shedding 66 sen to RM89.34, followed by MISC, which fell 11 sen to RM8.30.
Allianz and PTT Synergy declined 10 sen each to RM19.30 and RM1.30, respectively, while Hengyuan and PETRONAS Chemicals eased nine sen each to RM3.80 and RM4.40.
On the forex front, the ringgit strengthened 0.05% against the US dollar to 4.0805. It also edged up 0.02% against the Singapore dollar to 3.1925.
Meanwhile, Brent crude rose US$1.59, or 1.46%, to US$110.38 a barrel, while U.S. West Texas Intermediate crude gained US$1.64, or 1.68%, to US$99.46 per barrel.
Across regional markets, Japan’s Nikkei 225 rose 0.85% to 64,621.24, while South Korea’s Kospi surged 3.29% to 5,735.66.
Taiwan’s Taiex gained 1.28% to 46,887.77 and Singapore’s Straits Times Index climbed 0.66% to 5,439.56.
Meanwhile, Hong Kong’s Hang Seng fell 0.9% to 23,651.87, China’s CSI 300 declined 0.97% to 4,111.93 and the Shanghai Composite eased 0.6% to 3,713.03.
