KUALA LUMPUR (Nov 26): The FBM KLCI closed 6.11 points or 0.36% higher today, mainly on Petronas Dagangan Bhd (PetDag), IHH Healthcare Bhd and Dialog Group Bhd shares' last-minute price surge and after investors went bargain hunting for beaten-down stocks across the broader market.

The KLCI also rose with major Asian stock indices and as crude oil prices recovered. At 5pm, the KLCI closed at its intraday high at 1,701.99 after falling to its intraday low at 1,688.45.

“The index has fallen quite a fair bit and it was due for bargain hunting. [The stocks] have dropped so much that investors started to bargain hunt on the beaten-down stocks,” Rakuten Trade Sdn Bhd vice-president Vincent Lau told theedgemarkets.com today.

Lau said the recovery in crude oil prices also contributed to the KLCI's rebound. Reuters reported that oil prices on Monday clawed back some losses from a nearly 8-percent plunge the previous session, but Brent failed to hold above US$60 per barrel amid generally weak financial markets.

It was reported that front-month Brent crude oil futures had risen by 96 cents, or 1.6 percent, to US$59.76 per barrel by 0745 GMT. US West Texas Intermediate (WTI) crude futures were up 62 cents, or 1.2 percent, at US$51.04 per barrel.

Aross Bursa Malaysia, 1.74 billion shares worth RM1.41 billion were traded.

PetDag closed 78 sen higher at RM27.68, IHH rose 13 sen to RM4.93 while Dialog Group Bhd closed up 11 sen at RM3.29. All three KLCI-linked stocks ended among Bursa Malaysia top gainers.

Across Asian stock markets, Japan's Nikkei 225 closed 0.76% higher, South Korea's Kospi rose 1.24% while Hong Kong’s Hang Seng was up 1.73%.

Reuters reported that Asian stocks and US equity futures posted modest gains on Monday on hopes of solid US holiday sales, though risk appetite was tempered as plunging oil prices fanned worries about the global economic outlook. It was reported that investors were also cautious before US and Chinese leaders meet for crucial talks at the end of the week as trade tensions between the economic superpowers showed no signs of easing.