KUALA LUMPUR, Dec 23 — Bursa Malaysia extended yesterday’s gains to close higher today, on continued buying support mostly in plantation and palm oil counters.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 20.25 points to end at an intra-day high of 1,663.51 after hitting a low of 1,641.14 in the morning session.    

Inter-Pacific Research Sdn Bhd Head of Research Pong Teng Siew said today’s local benchmark index was supported by several factors, including the bargain hunting and positive overseas sentiment.

“The market was recovering from earlier losses (on Friday and Monday), as investors began their “year-end window dressing”, coupled with the slight recovery in oil prices,” he told Bernama.

Another dealer said that European and Asian stock markets continued to climb in the run-up to Christmas due to a positive lead from Wall Street and an uptick in oil prices.

The US Federal Reserve has finally increased its interest rates while lower regional production data released recently had triggered the crude palm oil prices.

On the home front, heavyweights Maybank advanced five sen to RM8.30, TNB and Public Bank added 10 sen each to RM13.20 and RM18.38 respectively, while Petronas climbed 12 sen to RM7.19.

Among actives, SMTrack shed one sen to 10.5 sen, APFT eased half-a-sen to 28.5 sen, while Dnonce Technology rose three sen to 20.5 sen and GSB improved 1.5 sen to 13 sen.

Market breadth was positive as advancers outpaced decliners by 551 to 331, while 330 counters were unchanged, 556 untraded and 12 others suspended.

Total volume rose to 1.63 billion shares worth RM1.63 billion from 1.62 billion shares worth RM1.58 billion yesterday.

The local bourse will be closed tomorrow and Friday for the Maulidur Rasul and Christmas holidays.

The FBM Emas Index rose 123.15 points to 11,627.71, the FBMT100 Index gained 124.77 points to 11,302.45 and the FBM Emas Shariah Index chalked up 163.96 points to 12,605.78.

The FBM 70 rose 98.11 points to 13,044.88 but the FBM Ace was 2.32 points weaker at 6,332.67.

Sector-wise, the Industrial Index improved 19.59 points to 3,189.24, the Plantation Index increased 131.49 points to 7,505.73 and the Finance Index perked 30.53 points to 14,013.94.

Main Market volume advanced to 1.08 billion units worth RM1.52 billion from 1.05 billion units worth RM1.45 billion yesterday.

Turnover on the ACE Market declined to 312 million shares valued at RM74.85 million versus 421.97 million shares valued at RM98.53 million.

Warrants rose to 236.01 million units worth RM43.32 million against 155.63 million units worth RM28.49 million previously.

Consumer products accounted for 100.66 million shares traded on the Main Market, industrial products (277.63 million), construction (98.55 million), trade and services (390.15 million), technology (37.13 million), infrastructure (7.85 million), SPAC (22.47 million), finance (29.26 million), hotels (272,200), properties (97.05 million), plantations (16.58 million), mining (27,000), REITs (3.26 million) and closed/fund (19,100). — Bernama