KUALA LUMPUR: Bursa Malaysia ended higher driven by buying interest across the board.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 3.28 points to 1,460.28 from 1,457.0 at Monday''s close.
The key index opened lower at 1,456.86 and progressed between a low of 1,456.71 to a high of 1462.85 throughout the whole trading period.
On the broader market, gainers led outnumbered losers, 602 to 367 while 405 counters remained unchanged.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key regional indices have displayed mixed trends after China posted lower consumer and business activity within the last month.
He said the market undertone will be maintained in stable condition despite a weak regional performance.
"This is following the improving political stability in the country and continuous inflow of foreign funds.
"We believe O&G stocks still persist as a short-term play, with Brent crude oil staying above USD80 per barrel," he added.
Hong Leong Investment Bank (HLIB) the market may proceed to waver as investors continue to assess the significant breakthrough made by Perikatan Nasional in the recent state polls paired up with potential results season.
The firm advocated investors to buy on the dips to ride on an envisioned recovery towards the fourth quarter (4Q23) underpinned by the KLCI's undemanding valuation in 2024 and post election improved risk appetite.
This also includes record low foreign shareholding at 19.7 per cent in July 2023, and resumption of foreign net inflows as well as policy initiatives such as subsidy rationalisation and tax reform.
