KUALA LUMPUR: Bursa Malaysia closed higher at midweek, as investors consistently gaining confidence, supported by recovery in the global economy.
This include the positive progress of the US-China trade deal, a dealer said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 10.38 points higher at 1,643.21 from yesterday’s close of 1,632.83.
The index opened 5.44 points better at 1,638.27 and moved between 1,635.80 and 1,645.54 throughout the day.
Market breadth was positive with gainers outnumbering decliners 490 to 329, while 414 counters remained unchanged, 623 were untraded and 29 others suspended.
Volume was slightly lower at 2.67 billion units worth RM1.97 billion from 2.76 billion units worth RM1.97 billion yesterday.
A dealer said Chinese stocks were lifted at the highest level since March last year following updates of the trade deal.
Hong Kong’s Hang Seng rose 1.18 per cent to 29,975.31, while the Shanghai Stock Exchange gained 1.24 per cent to 3,216.30.
“And coupled with the recovery in its services sector, Chinese investors are pumping in fund in their market and elsewhere, including Bursa Malaysia.
“Overall, investors (globally) are happy with the Sino-US trade talks,” he added.
The US Chamber of Commerce executive vice-president for international affairs Myron Brilliant was reported as saying that the both US and China are moving towards the “end-game” stage with the deal.
“Ninety per cent of the deal is done, but the last 10 per cent is the hardest part, it’s the trickiest part and requires trade-offs on both sides,” he said.
Back home, among the heavyweights, Maybank fell one sen to RM9.24, PetChem down two sen to RM9.08, Tenaga shed four sen to RM12.54, while Public Bank rose 30 sen to RM23.
Among actives, My EG slipped four sen to RM1.42, KNM gained 2.5 sen to 15 sen, Priceworth inched up half-a-sen to 6.5 sen, while Sapura Energy was flat at 35.5 sen.