KUALA LUMPUR: Bursa Malaysia saw a slight uptick at the end of trading, driven by late purchases in utilities and gaming stocks.
As of 5.00 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 0.13 points to 1,513.11 compared to Tuesday's closing of 1,512.98.
Initially opening marginally lower at 1,512.51, the benchmark index fluctuated between 1,510.20 and 1,514.05 throughout the day.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng anticipates continued buying momentum, citing the attractive valuation of the benchmark index and ongoing support from foreign funds.
"As such, we anticipate the benchmark index to trend within the 1,510-1,520 range for the rest of the week," he added.
Thong mentioned that major regional indices on the global front also concluded higher, driven by China's sustained recovery fueled by anticipated government support.
"Additionally, a robust close on Wall Street overnight provided a positive lead for regional markets," he said.
Thong observed that China's market rally is further supported by Central Huijin, a sovereign fund, increasing its acquisitions of domestic exchange-traded funds, which bolsters the local stock market.
