KUALA LUMPUR: Gains from index-linked counters propelled the FBM KLCI to close higher alongside with the positive sentiment across the regional market on Wednesday.
At 5pm, the 30-stock index rose 15.58 points or 0.95% to 1,647.50 after opening 0.63 of-a-point lower at 1,631.55 this morning.
The market traded within a range of 25.06 points between an intra-day high of 1,652.59 and a low of 1,627.53 during the session.
Market breadth turned positive as gainers overpowered the losers on a ratio of 841-to-355 stocks. Traded volumes stood at 6.3 billion shares valued at RM3.41bil.
KLCI-component stocks were overwhelmingly in the positive, with 22 gainers, four decliners and four counters unchanged.
Dealers said sentiment was supported also by firmer key regional markets and local bourse was playing catching up after the recent bout of weakness.
Among the gainers, Heng Yuan rose 69 sen to RM5.69, KPower added 61 sen to RM6.55, Carlsberg gained 56 sen and Greatech advanced 52 sen to RM9.20.
KESM was the top loser on Bursa Malaysia, shedding 98 sen to RM12.30. F&N fell 94 sen to RM31.54, Petronas Gas declined 18 sen to RM17.30 and Supermax lost 13 sen to RM6.92.
Meanwhile, the ringgit was quoted at 4.0630, down 0.05% against the US dollar. The local currency was up 0.18% against the euro at 4.9528. It also declined 0.02% against the pound sterling at 5.4541 and down 0.18% against the Singapore dollar at 3.0475.
Brent crude futures fell 17 cents, or 0.34%, to US$49.91 a barrel while US West Texas Intermediate (WTI) crude futures slid 18 cents, or 0.38%, to US$46.84 a barrel.
Asia benchmark finished mostly higher today with Japan’s Nikkei 225 Index rose 0.33% to 26,524.79.
South Korea’s benchmark Kospi rose 26.14 points, or 0.96%, to 2,759.82, the sharpest daily gain since Dec 9, Reuters reported.
China’s Shanghai Composite index was up 0.76% at 3,382.32, while the blue-chip CSI300 index was up 0.85%.
Reuters reported that China's central bank will scale back support for the economy in 2021 and cool credit growth, but fears of derailing a recovery from a pandemic-induced slump and debt defaults are likely to prevent it from tightening any time soon, policy sources said.
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