KUALA LUMPUR, Sept 26 ― Bursa Malaysia rebounded from two days of losses to close higher today, in tandem with regional peers, taking the cue from the Chinese stocks recovery, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.25 points to close at 1,798.72 versus yesterday's close of 1,794.47.

After opening 5.47 points lower today at 1,789, the index moved between 1,787.62 and 1,800.70 throughout the day.

On the broader market, gainers led losers by 469 to 387, with 402 counters unchanged, 646 untraded and 98 others suspended.

Volume increased to 2.21 billion units worth RM2.30 billion, from 1.86 billion units valued at RM1.92 billion recorded yesterday.

A dealer said Chinese stocks extended their recovery after global index provider MSCI Inc said it was considering increasing the weight of Chinese shares in its global indices from next year, as well as allowing in a raft of smaller technology companies.

“The fear over the US-China trade conflict has taken a back seat on news on Chinese stock recovery , increasing hopes that China could weather the tariff impact,” he said.

Meanwhile, Bank Islam Chief Economist Dr Mohd Afzanizam Abdul Rashid told Bernama that oil and gas stocks took the limelight among the actively traded counters today, taking the cue from the Organisation of the Petroleum Exporting Countries’ statement over the weekend that it was not in a hurry to raise crude oil output, hence lifting prices higher.

 “However, the US Federal Reserve decision on rates and the accompanying statements would be closely scrutinised by the markets tonight. This will set the tone for the FBM KLCI going forward,” he said.

In regional markets, Singapore’s Strait Times index added 0.09 per cent to 3,239.10, Japan’s Nikkei 225 increased 0.39 per cent to 24,033.79, Shanghai’s SSE Index rose 0.92 per cent to 2,806.81 and Hong Kong's Hang Seng increased by 1.15 per cent to 27,816.87.

Among heavyweights, Tenaga rose 34 sen to RM15.50, CIMB Group added four sen to RM6.04, Petronas Chemicals shed seven sen to RM9.34, Maybank eased two sen to RM9.78 while Public Bank was flat at RM25.

For actives, VS Industry warrant gained nine sen to 37.5 sen, Hibiscus Petroleum added five sen to RM1.23, VS industry rose 11 sen to RM1.73, Sapura Energy eased half-a- sen to 43.5 sen and QES Group was flat at 34 sen.

The FBM Emas Index was 31.23 points higher at 12,544.56, the FBMT 100 Index added 27.56 points to 12,347.82 and the FBM Emas Shariah Index jumped 60.30 points to 12,707.94.

The FBM Ace Index rose 59.55 points to 5,252.42 while the FBM 70 improved 26.82 points to 14,781.05.

Sector-wise, the Finance Index increased 9.78 points to 17,816.65, the Industrial Products and Services Index inched up 0.18 of-a-point to 177.20 and the Plantation Index added 16.70 points to 7,547.26.

Main Market volume increased to 1.52 billion shares worth RM2.11 billion, from 1.42 billion shares worth RM1.81 billion yesterday.

Warrants' turnover swelled to 315.13 million units valued at RM74.44 million, from 156.63 million units valued at RM19.37 million yesterday.

Volume on the ACE Market rose to 376.66 million units worth RM114.46 million from 276.74 million units worth RM81.90 million yesterday.

Consumer products and services accounted for 174.85 million shares traded on the Main Market, industrial products and services (412.55 million), construction (63.63 million), technology (196.65 million), SPAC (498,600), financial services (54.90 million), property (78.04 million), plantations (27.52 million), REITs (2.33 million), closed/fund (17,000), energy (389.91 million), healthcare (20.54 million), telecommunication and media (19.11 million), transportation and logistics (39.89 million) and utilities (42.92 million). ― Bernama