KUALA LUMPUR: The FBM KLCI finished higher on Tuesday, amid advances in regional bourses, after China announced broad stimulus measures to boost its economy, while the ringgit climbed to a three-year high.
The 30-stock index climbed 5.07 points, or 0.3% to 1,670.37 on buying support in index-linked counters, led by Tenaga Nasional. The index hit an intraday high of 1,671.47 and a low of 1,665.51.
Winners and losers were closely balanced, with 558 gainers against 549 losers and 508 that were flat. Trading volume was 3.51 billion shares valued at RM3.1bil.
In terms of fund flows, foreign funds were net sellers on Monday, offloading equities worth RM119mil.
Local institutions and retailers emerged as net buyers, with total purchases valued at RM67mil and RM52mil, respectively.
The ringgit was quoted at 4.1470, up 1.33% against the US dollar, its highest level since late October 2021.
Reuters reported the local currency is the best performer in the region since the start of 2024 owing to strong foreign investor inflows and political stability, is eyeing its best year since 2017.
Among the gainers on Bursa Malaysia, Nestle surged 60 sen to RM101.30, Dutch Lady
added 30 sen to RM15.04, Tenaga Nasional gained 30 sen to RM15.04 and Bursa Malaysia advanced 27 sen to RM9.85.
Malaysian Pacific Industries fell 30 sen to RM26.90, Unisem lost 14 sen to RM3.06, Gamuda gave up 13 sen to RM8.07 and SAM Engineering declined 13 sen to RM4.38.
Around the region, MSCI's Asia ex-Japan stock index was higher by 1.36%.
Japan’s Nikkei 225 closed 0.57% higher at 37,940.59 while South Korea’s Kospi closed up 1.14%, at 2,631.68.
Hong Kong’s Hang Seng index rose 4.13% to 19,000.56 and China’s CSI 300 Index edged up 4.33% to 3,351.91.
