Mild fund buying lifts KLCI but unable to cross 1,850

KUALA LUMPUR: Mild fund buying of oversold counters enabled the FBM KLCI to close higher on Monday but insufficient to cross the key 1,850 level as investors were still recovering from the steep fall last Friday.

At the close, the FBM KLCI was up 9.45 points or 0.51% to 1,849.32 - enabling the 30-stock index to recoup one-third of last Friday's losses of 27 points.