KUALA LUMPUR: Bursa Malaysia rebounded strongly on Tuesday, as investors picked up beaten-down shares.
The FBM KLCI closed up 16.64 points, or 1.15% to 1,457.88, with 24 out of the 30 constituent counters higher. The index opened 2.06 points higher at 1,441.24 this morning.
Gainers led sellers by 687 to 308, while 329 counters traded unchanged. Volume stood at 2.78 billion shares, valued at RM1.86bil
Dealers said the performance of the local bourse mirrored its regional peers and investors took to bargain-hunting for oversold counters.
Nestle was the top gainer, jumping RM2.90 to RM134.50, followed by Petronas Dagangan, which climbed RM1.16 to RM21.06, and PPB, which rose 48 sen to RM15.84.
Among the losers on Bursa Malaysia, Heineken lost 34 sen to RM23.42, Amway fell 18 sen to RM5.02 and F&N eased 16 sen to RM19.74.
DNeX was the most actively traded stock. The stock, which saw 134.52 million shares traded, added 3.5 sen to 80 sen.
Top Glove added 9.5 sen to RM1.08 with 97.9 million shares done.
Meanwhile, the ringgit was quoted at 4.3983, up 0.04% against the US dollar.
US WTI crude oil rose US$2.29 to US$111.85 and Brent gained US$1.60 to US$115.73 per barrel.
Elsewhere in the region, Japan’s Nikkei 225 closed up 1.84%, Hong Kong’s Hang Seng Index rose 1.87%, South Korea’s Kospi added 0.75%, China’s CSI300 closed down 0.11% and Singapore’s Straits Times Index added 0.7%.