KUALA LUMPUR: The FBM KLCI extended its gains for a second consecutive day on Wednesday, closing higher in line with regional peers amid broad-based buying interest.
The 30-stock index closed 2.02 points, or 0.13%, higher at 1,613.87, trading within a 6.43-point range between an intraday high of 1,615.87 and a low of 1,609.44.
In the broader market, gainers outpaced decliners, with 658 stocks closing higher against 418 decliners, translating to a market breadth ratio of 1.57-to-1 and indicating stronger buying interest.
Dealers said broader market participation remained encouraging, although investors were likely to remain cautious amid geopolitical tensions in the Middle East and volatile global oil prices.
Among the top gainers, Nestle jumped RM3.70 to RM97.98, while Malaysian Pacific Industries
surged 84 sen to RM42.14. Heineken climbed 30 sen to RM13.04, ViTrox added 24 sen to RM11.06 and F&N advanced 22 sen to RM19.90.
On the downside, United Plantations fell 38 sen to RM29.32 and Hong Leong Industries shed 28 sen to RM16.22. Ayer declined 25 sen to RM7.75, while Westports slipped 20 sen to RM6.88 and Dufu Technology lost 16 sen to RM3.01.
Foreign investors emerged as net buyers on Tuesday, acquiring RM117mil worth of equities, while local institutions and retail investors were net sellers, disposing of RM61mil and RM56mil, respectively.
Meanwhile, oil prices rose more than US$2 earlier following an attack on a refinery in Saudi Arabia, reigniting concerns over supply disruptions amid ongoing conflicts in the Middle East.
Brent crude rose US$1.54, or 1.35%, to US$115.42 a barrel, while US West Texas Intermediate crude gained US$1.77 to US$101.67 a barrel.
On the external front, MSCI’s Asia ex-Japan stock index was higher by 2.28%.
Japan’s Nikkei 225 advanced 1.08% to 63,954.19, while South Korea’s Kospi surged 6.63% to 6,012.44.
Hong Kong’s Hang Seng ended 0.23% higher at 23,094.83 and Taiwan’s Taiex gained 2.04% to 47,035.58.
China’s CSI300 index added 0.85% to 4,083.87, while the Shanghai Composite climbed 0.91% to 3,681.47.
