KUALA LUMPUR: Bursa Malaysia closed on a stronger footing, thanks to buying activities and improved performance of the regional markets.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.91 points to 1,435.17 from Monday's closing of 1,417.26.
The index, which opened 2.07 points higher at 1,419.33, moved between 1,419.33 and 1,435.89 during the day.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index finished sharply higher, aligning with the strong regional performance.
He believes that foreign funds are returning to the region.
Nevertheless, Thong recommended that investors remain vigilant as the escalating geopolitical tensions in Israel could lead to an increase in crude oil prices, potentially causing a spike in inflation and rate hike.
"Consequently, we anticipate that the FBM KLCI will continue to trend within the range of 1,430-1,440 for the rest of the week.
"Technical point of view, we identify the next resistance level at 1,460, with support at 1,415," he told Business Times today.
Among the heavyweights, CelcomDigi Bhd was up nine sen to RM4.33, Petronas Chemicals Group Bhd went up 13 sen to RM7.30, Malayan Banking Bhd edged up nine sen to RM8.89, while Westports Holdings Bhd slid two sen to RM3.15 .
Among the actives, Classita Holdings Bhd inched up 1.5 sen to eight sen, NETX Holdings Bhd perked 2.5 sen to 19 sen, UEM Sunrise Bhd added 6.5 sen to 87 sen and Widad Group Bhd improved half-a-sen to 54 sen, while KNM Group declined 2.5 sen to 12 sen.
