KUALA LUMPUR: Bursa Malaysia closed higher on Wednesday, with the key index up 1.10%, tracking regional gains after a strong Wall Street rally overnight, an analyst said.
IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 18.54 points or 1.10% to 1,708.90 from Tuesday’s close of 1,690.36.
The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session.
The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
Turnover narrowed to 3.58 billion units worth RM3.56 billion from yesterday’s 3.64 billion units worth RM3.96 billion.
MORE TO COME