Bursa Malaysia ends higher, FBM KLCI reclaims 1,600-mark

Bursa Malaysia's benchmark index, the FBM KLCI, concluded the trading day higher on Tuesday, reclaiming the psychologically significant 1,600 mark due to selective bargain hunting. The index rose 2.69 points or 0.16 percent, closing at 1,602.27, just shy of its intraday high of 1,603.41. The day's low was recorded at 1,596.69 early in the trading session.

Gainers outnumbered decliners with a ratio of 626 to 416, while 502 counters remained unchanged, 1,317 were untraded, and 20 were suspended. Turnover decreased to 2.76 billion units worth RM2.58 billion, down from the previous day's 2.86 billion units worth RM2.42 billion. Analyst Thong Pak Leng from Rakuten Trade Sdn Bhd suggested that market sentiment remained cautious due to ongoing foreign selling, but Malaysia's underlying economic fundamentals were considered resilient.

Inflation eased to 1.8 percent in September, alleviating concerns about domestic price pressures. The analyst expects the FBM KLCI to range between 1,580 and 1,610 throughout the week, although geopolitical developments might cause intermittent volatility. Among the top gainers, Vitrox increased by 38 sen to RM10.68, UWC rose by 34 sen to RM7.30, Hong Leong Bank gained 32 sen to RM21.52, and Kuala Lumpur Kepong climbed 30 sen to RM20.08.

Conversely, Nestle dropped 66 sen to RM89.34, MISC reduced 11 sen to RM8.30, while PTT Synergy and Allianz Malaysia each fell 10 sen to RM1.30 and RM19.30, respectively.