Share prices on Bursa Malaysia neared its seven-week high yesterday on extended gains by heavyweights such as Maybank in line with regional peers and the overnight rally on Wall Street.
At the close, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 11.54 points higher at 1,531.63, after opening 2.89 points better at 1,522.98.
The market barometer was last seen above the 1,530 points level on February 9, when it touched 1,536.07.
Regionally, Japan's Nikkei closed 249.71 points higher at 9,708.79, Hong Kong's benchmark Hang Seng Index jumped 391.07 points to 23,451.43, Singapore's Straits Times Index rose 38.37 points to end at 3,095.32 and the Korea Composite Stock Price Index closed 19.25 points higher at 2091.38.
HwangDBS Vickers Research said a break beyond the 1,530-point level may then propel the FBM KLCI to the next resistance target of 1,550.
The Plantation Index added 8.15 points to 7,760.08, Finance Index surged 143.92 points to 13,930.74 and the Industrial Index earned 3.22 points to 2,830.13.
The FBM Emas Index climbed 81.1 points to 10,538.38, FBM Mid 70 Index gained 80.55 points to 11,277.01 and the FBM ACE Index added 26.15 points to 4,348.24.
Advancers outnumbered decliners 670 to 242, while 229 counters were unchanged, 287 untraded and 35 others were suspended.
Turnover surged to 2.34 billion shares, worth RM2.48 billion, from 1.76 billion shares, worth RM2.18 billion, transacted on Tuesday.
Among active stocks, SAAG Consolidated perked 1.5 sen to 11.5 sen, Perisai Petroleum jumped 7 sen to 88 sen and Karambunai edged up 1.5 sen to 24 sen.
Among heavyweights, Maybank increased 15 sen to RM8.93, CIMB climbed 5 sen to RM8.16, Petronas Chemicals increased 2 sen to RM7.20 and Sime Darby moved up 3 sen to RM9.22.
Volume on the Main Market increased to 2.01 billion shares, worth RM2.40 billion, from 1.44 billion shares, worth RM2.11 billion, recorded on Tuesday.
The FBM KLCI futures contracts on Bursa Malaysia Derivatives also closed higher, dealers said.
Spot month March 2011 and far month September 2011 rose 12 points each to 1,534 and 1,529 respectively, while April 2011 jumped 12.5 points to 1,532.5 and June 2011 improved 10 points to 1,529.
Turnover, however, dropped to 15,720 lots from 22,325 lots on Tuesday, while open interests climbed to 27,924 contracts from the 26,561 contracts previously. - Bernama
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