Bursa Malaysia ended higher, driven by buying interest in energy stocks which was buoyed by the increasing crude oil prices.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) went up by 5.79 points to 1,460.62 from 1,454.83 at Tuesday’s close.
The key index opened lower at 1,455.01 and progressed between a low of 1,454.94 to a high of 1,462.78 throughout the whole trading period.
On the broader market, gainers outnumbered losers, 530 to 372 while 467 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the index ended in a positive territory because of bargain hunting activities after yesterday’s selldown.
“Key regional indices finished mixed following as investors are cautious following negative cue from global equities overnight resulted from the escalating crude oil prices is amplifying inflation concerns which may cause central banks to reconsider their stance to increase interest rate,” he added.
Thong said the firm is on a cautious stance about the local market driven by enticing valuations, increasing trading volume as well as continuous support from local institutions, according to NST.
