KUALA LUMPUR: Bursa Malaysia snapped a four-day losing streak to end higher today, spurred by bargain hunting with signs of mild window dressing activities while tracking the upbeat mood across regional markets.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 3.44 points or 0.24 per cent firmer to 1,454.22 from Tuesday's close of 1,450.78.
The FBM KLCI opened 1.59 points better at 1,452.37 and moved between 1,452.08 and 1,455.44 throughout the day.
In the broader market, gainers thumped losers 468 to 380, while 467 counters were unchanged, 988 untraded, and 56 others suspended.
Turnover jumped to 3.29 billion units worth RM2.06 billion from 2.91 billion units worth RM1.96 billion on Tuesday.
Apex Securities Bhd head of research Kenneth Leong said the improved sentiment on Wall Street was also reflected in the positive performance of the regional markets including Bursa Malaysia, which further contributed to the gains in the local bourse.
"Going forward, we anticipate that further recovery is in store, with the key index likely to build on today's momentum.
"Window dressing activities may propel the key index higher with sentiment favouring a potential interest cut in the United States,” he told Bernama.
Leong said that investors will be keeping a close tab on US pending home sales data to be released on Thursday.
"For now, trading activities is expected to remain thin for the remainder of the week on the back of the festive and year-end holidays,” he added.
From the technical perspective, he said the FBM KLCI has formed a bullish candle to bounce off the 50-day simple moving average, of which further recovery may lift the key index towards the immediate resistance located at 1,465.
"Meanwhile, the near-term support is spotted at 1,430,” he said.
Among the heavyweights, Maybank and Public Bank were one sen higher at RM8.90 and RM4.25, respectively, CIMB Group
rose two sen to RM5.80, and TNB was flat at RM10.0.
Of the actives, Sarawak Cable improved 11 sen to 39 sen, Zelan perked up 1.5 sen at 8.5 sen, while SMTrack, Widad and Leform rose half-a-sen to 5.5 sen, 47.5 sen and 41.5 sen, respectively.
On the index board, the FBM 70 Index went up 4.12 points to 14,629.71, the FBM Emas Shariah Index rose 16.97 points to 11,028.50, the FBM Emas Index gained 20.45 points to 10,825.60, and the FBMT 100 Index climbed 19.22 points to 10,486.40.
However, the FBM ACE Index slipped 9.59 points to 5,209.38.
Sector-wise, the Plantation Index increased 20.20 points to 7,018.33, the Industrial Products and Services Index inched up 0.08 of-a-point to 172.62, the Financial Services Index garnered 23.64 points to 16,215.08, while the Property Index added 0.60 points to 864.52, and the Energy Index perked up 2.75 points to 822.18.
The Main Market volume expanded to two billion units valued at RM1.79 billion against 1.89 billion units valued at RM1.67 billion on Tuesday.
Warrants turnover soared to 466.22 million units worth RM61.49 million from 116.57 million units worth RM12.84 million yesterday.
The ACE Market volume declined to 810.65 million shares valued at RM212.73 million versus 846.89 million shares valued at RM269.45 million previously.
Consumer products and services counters accounted for 344.44 million shares traded on the Main Market, industrial products and services (639.87 million); construction (181.13 million); technology (137.61 million); SPAC (nil); financial services (91.88 million); property (172.49 million); plantation (13.56 million); REITs (8.32 million), closed/fund (13,400); energy (156.91 million); healthcare (121.95 million); telecommunications and media (24.20 million); transportation and logistics (47.49 million); and utilities (62.75 million). - Bernama
