KUALA LUMPUR: Bursa Malaysia closed higher on Thursday supported by bottom-fishing activities on selected index heavyweights.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI was up 0.28 per cent or 4.34 points to 1,544.76 versus Wednesday's close of 1,540.42.
The key index which opened at 1,539.84 moved between 1,538.68 and 1,548.46 throughout the day.
The broader market was positive with gainers leading decliners 570 to 467 while 495 counters were unchanged.
On the index board, FBM100 was up 0.32 per cent to 11,255.53, FBM Emas rose 0.34 per cent to 11,616,97 and FBM Ace added 0.45 per cent to 4,947.52. Tradeview Capital fund manager Neoh Jia Man said Bursa's positive sentiment was further boosted by a rebound across regional markets as investors continued to dial down concerns over a potential escalation of geopolitical conflicts in the Middle East.
"Barring any negative surprise from United States jobless claims and home sales data tonight, we expect the positive momentum in the local market to be sustained tomorrow," he told Business Times.
Dutch lady Milk Industries Bhd ended the trading day as a top gainer, adding 90 sen to RM33.20. On the losing end was LPI Capital Bhd which tumbled 16 sen to RM11.78.