KUALA LUMPUR, Nov 15 — Bursa Malaysia snapped a three-day losing streak to close higher today on renewed buying interest in selected heavyweights, in line with most Asian stock markets.

A dealer said bargain hunters emerged and seized the opportunities to acquire the undervalued stocks, especially the popular blue-chips during the recent falls.

At the closing bell, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.80 points or 0.34 per cent firmer at 1,694.21 from yesterday’s close of 1,688.41.

The index opened 1.98 points easier at 1,686.43 today and moved between 1,685.20 and 1,698.14 throughout the day.

Market breadth remained positive, with advancers outpacing decliners 563 to 285, while 345 counters were unchanged, 688 untraded and 20 others suspended.

Volume, however, lowered to 1.98 billion units worth RM1.88 billion from 2.21 billion units worth RM1.91 billion yesterday.

Of the popular heavyweights that gained traction included Maybank and CIMB, rising nine sen each to RM9.38 and RM5.59, respectively, Hong Leong Bank, adding six sen to RM20.56, Maxis, bagging five sen to RM5.40, and Petronas Gas, increasing four sen to RM18.70.

Meanwhile, the dealer said news that China had sent a written response to US demands for trade reform also helped improve market sentiment, as investors were hopeful that the informal talks could ease the trade tensions between the two economic giants.

Regionally, Singapore’s Straits Times Index perked 0.29 per cent to 3,051.94, the Shanghai Composite Index jumped 1.36 per cent to 2,668.17 and Hong Kong’s Hang Seng Index surged 1.75 per cent to 26,103.34.  

Of actives, Hibiscus ticked up five sen to RM1.06, Permaju advanced two sen to 40 sen, while PUC trimmed one sen to 14.5 sen, Tiger Synergy and Seacera were each half-a-sen lower at nine sen and 22 sen, respectively.

Ajinomoto emerged as the top gainer, raising 74 sen to RM20.50, followed by BAT, elevating 58 sen to RM38.56, KESM putting on 26 sen to RM10.92, Lii Hen surging 25 sen to RM3.21, and Dufu Technology gaining 21 sen to RM3.68.

The FBM Emas Index leaped 64.20 points to 11,774.82, the FBMT 100 Index increased 56.35 points to 11,612.14 and the FBM 70 soared 131.34 points to 13,829.72.

The FBM Emas Shariah Index improved 41.18 points to 11,868.28 and the FBM Ace Index propped up 19.92 points to 4,944.46.

Sector-wise, the Finance Index accumulated 114.16 points to 17,201.52, the Industrial Products and Services Index edged up 0.55 of-a-point to 173.11 but the Plantation Index gave up 15.93 points to 7,235.62.

Main Market volume narrowed to 1.26 million shares worth RM1.68 billion from 1.48 billion shares worth RM1.72 billion yesterday.

Warrants turnover rose to 415.92 million units valued at RM111.73 million versus 359.28 million units previously.

Volume on the ACE Market was lower at 305.68 million shares worth RM84.75 million compared with 365.70 million shares worth RM104.49 million previously.

Consumer products and services accounted for 247.50 million shares traded on the Main Market, industrial products and services (263.89 million), construction (34.36 million), technology (185.41 million), SPAC (48,200), financial services (45.72 million), property (129.41 million), plantations (25.24 million), REITs (4.83 million), closed/fund (nil), energy (201.82 million), healthcare (18.29 million), telecommunication and media (60.94 million), transportation and logistics (16.68 million), and utilities (30.52 million). — Bernama