Bursa Malaysia ended higher today, lifted by persistent buying interests in most heavyweights and lower-liners.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 26.74 points, or 1.61 per cent, to 1,689.25, after moving between 1,657.73 and 1,690.79 throughout the day.
Inter-Pacific Research Sdn Bhd Head of Research, Pong Teng Siew, said the uptrend in the local market was due to the strengthening of the ringgit and higher crude oil prices.
"It has to be taken as good news because we have been hit by lower commodity prices and questions about whether funds are flowing out. There is outflow but it is not a major one," he told Bernama.
Pong said the local market was likely to continue its the upward momentum until next week.
"It also seems to be reacting to more stable market in the developed markets in Europe and in the US. That is also giving platform (for the local market) to recover," he added.
Brent crude rose 40 US cents a barrel at US$52.32 today.
Of the heavyweights, Sime Darby shot up 60 sen to RM8.80, CIMB climbed 31 sen to RM4.90, while Petronas Chemicals and Genting Malaysia both soared 18 sen to RM6.38 and RM4.42, respectively.
Among actives, KNM bagged eight sen to 55.5 sen, AirAsia garnered seven sen to RM1.32, Sumatec went up two sen to 17 sen, Bumi Armada rose 9.5 sen to RM1.04 and Perisai Petroleum added 4.5 sen to 38.5 sen.
The positive performance in the local market was also in tandem with its regional peers.
Japan's Nikkei 225 climbed 0.75 per cent to 18,322.98, Singapore's Straits Times soared 2.25 per cent to 2,962.50 and Hong Kong's Hang Seng appreciated 3.13 per cent to 22,515.76.
On the home front, market breadth was positive with gainers thumping losers by 699 to 223, while 265 counters were unchanged, 610 untraded and 25 others suspended.
Volume increased to 2.69 billion shares valued at RM3.21 billion from 2.13 billion shares valued at RM2.12 billion on Tuesday.
On the scoreboard, the FBM 70 improved 280.12 points to 12,685.90 and the FBM Emas Shariah Index advanced 225.81 points to 12,377.42.
The FBM Ace perked 44.12 points to 5,774.40, FBM Emas Index gained 206.04 points to 11,646.21 and the FBMT100 Index was up 196.34 points to 11,360.53.
Sector-wise, the Finance Index climbed 239.46 points to 14,477.42, Industrial Index added 79.58 points to 3,339.93 and the Plantation Index improved 88.88 points to 7,445.73.
Main Market volume rose to 1.79 billion units worth RM3.04 billion from Tuesday's 1.08 billion units worth RM1.93 billion.
Turnover on the ACE Market declined to 293.12 million shares valued at RM62.92 million from 645.93 million shares valued at RM121.0 million.
Warrants went up to 609.07 million units worth RM114.57 million from 400.31 million units worth RM67.92 million previously.
Consumer products accounted for 74.96 million shares traded on the Main Market, industrial products (352.26 million), construction (71.62 million), trade and services (948.21 million), technology (34.60 million), infrastructure (35.52 million), SPAC (12.32 million), finance (96.97 million), hotel (1.07 million), properties (114.23 million), plantations (38.28 million), mining (396,800), REITs (6.16 million) and closed/fund (43,600).