KUALA LUMPUR, Nov 15 — Bursa Malaysia closed the day higher on stronger buying support due to some window-dressing activities, as well as, better oil prices.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,630.56 points, 13.92 points higher from yesterday’s close of 1,616.64.

After opening 0.72 of-a-point better at 1,617.36 today, the FBM KLCI moved between 1,617.33 and 1,635.04 throughout the morning session.

Gainers outpaced losers 531 to 258 with 363 counters unchanged, 540 untraded and 16 others suspended.

Volume decreased to 1.34 billion shares worth RM1.89 billion from 1.38 billion shares worth RM1.80 billion recorded on Monday.

In a note, Hong Leong Investment Bank Research said while investment sentiment remained soft, Bursa Malaysia would gradually recover towards year-end, buoyed by window-dressing and expectations of the country’s general elections being held by mid-2017.

Meanwhile, a dealer said window-dressing started to kick in as traders took advantage of Bursa Malaysia’s losses yesterday and accumulate quality stocks at cheaper prices.

"Higher global oil prices also lifted buying sentiment whereby as at 4 pm earlier, Brent futures for January were up 71 cents, or 1.6 per cent, at US$45.14 per barrel.

"After yesterday’s selling pressure, which drove Bursa Malaysia down 1.07 per cent due to worries over US interest rates hike, the financial markets’ reaction to Donald Trump’s victory in the US presidential election seems to be fading,” he added.

Meanwhile, Bursa Malaysia today issued an unusual market activity query to Sinotop Holdings Bhd, which was among the most active stocks today, due to a sharp rise in the company’s share price.

At the close, Sinotop shares however shed half-a-sen to 13.5 sen, after hitting an intraday high of 14.5 sen, with 15.84 million shares traded.

As for other actives, RGB added one sen to 25.5 sen, while Sanichi and Hibiscus Petroleum rose half-a-sen each to 7.5 sen and 27.5 sen, respectively.

Among heavyweights, TNB added two sen to RM14.16, Maybank added 11 sen to RM7.78 and Public Bank gained 18 sen to RM19.70.

On the scoreboard, the FBM Emas Index added 98.64 points to 11,484.57, FBMT100 Index increased 97.84 points to 11,194.66 and the FBM Emas Shariah Index rose 101.44 points to 12,084.54.

The FBM 70 gained 124.86 points at 13,347.66 and the FBM Ace was 63.65 points higher at 4,983.54.

Sector-wise, the Industrial Index increased 27.62 points to 3,086.79, Finance Index climbed 97.93 points to 14,221.56 and the Plantation Index added 21.03 points to 7,758.15.

Main Market turnover fell to 908.66 million units worth RM1.81 billion from 917.9 million units worth RM1.73 billion recorded on Monday.

The ACE Market volume expanded to 204.56 million shares valued at RM33.99 million from 161.88 million shares valued at RM20.26 million yesterday.

Warrants contracted to 227.83 million units valued at RM42.41 million from 294.5 million units valued at RM49.64 million.

Consumer products accounted for 44.12 million shares traded on the Main Market, industrial products (190.3 million), construction (72.46 million), trade and services (366.58 million), technology (287.26 million), infrastructure (9.93 million), SPAC (55.29 million), finance (43.44 million), hotels (149,800), properties (54.85 million), plantations (15.4 million), mining (nil), REITs (27.35 million) and closed/fund (12,000). — Bernama