KUALA LUMPUR, May 28 — Bursa Malaysia closed at its intra-day high today, gaining 0.82 per cent on technical rebound from an oversold position previously.

At the close, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 13.22 points to 1,614.57 after opening 2.91 points higher today at 1,604.26.

The benchmark index moved between 1,602.15 and 1,614.57 throughout the day.

Market breadth was positive as gainers beat losers 427 to 395 with 348 counters unchanged, 772 untraded and 24 others suspended.

Turnover surged to 2.4 billion units worth RM4.52 billion from 1.6 billion units worth RM1.29 billion yesterday.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid the local market was bullish today amid on-going concerns on global technology stocks as well as trade tension between the United States and China.

"The latest update on the US-China situation, which saw Chinese companies barred from selling to the US or buying components from American firms, has caused market jitters and the market tone will remain cautious due to external factors.

"So far, the local bourse in still going upward due to the oversold position, but we don’t know how far the support will be there for the local market,” he told Bernama.

Among the heavyweights counters, TNB jumped 30 sen to RM11.66, Maxis gained 19 sen to RM5.55, Public Bank advanced 34 sen to RM23.12 and Sime Darby accumulated 16 sen to RM2.36.

Of the actively-traded stocks, IOI Properties increased four sen to RM1.24, Sapura Energy inched up half-a-sen to 29.5 sen and Sime Darby Property added one sen to 98.5 sen, but Vortex fell five sen to 20 sen.

The FBM Emas Index jumped 111.68 points to 11,325.02 and the FBMT 100 was 110.75 points higher at 11,181.25.

The FBM 70 surged 215.33 points to 13,831.75, the FBM Emas Shariah Index rose 141.92 points to 11,455.75 and the FBM Ace Index gained 9.99 points to 4,268.29.

Sector-wise, the Financial Services Index improved 36.35 points to 16,640.15, while the Plantation Index shed 10.77 points to 6,861.20 and the Industrial Products and Services Index was 0.60 of-a-point lower at 160.09.

Main Market volume increased to 1.79 billion shares worth RM4.41 billion from 1.03 billion shares worth RM1.17 billion on Monday.

Warrants turnover was lower at 324.88 million units worth RM69.1 million from 346.64 million units worth RM79.83 million.

Volume on the ACE Market climbed to 279.72 million shares valued at RM41.55 million from 224.53 million shares valued at RM38.67 million previously.

Consumer products and services accounted for 221.08 million shares traded on the Main Market, industrial products and services (166.59 million), construction (216.23 million), technology (82.28 million), SPAC (nil), financial services (106.54 million), property (334.47 million), plantation (61.43 million), REITs (11.83 million), closed/fund (8,200), energy (300.81 million), healthcare (92.94 million), telecommunications and media (49.85 million), transportation and logistics (44.47 million) and utilities (103.52 million). — Bernama