KUALA LUMPUR (Feb 25): The FBM KLCI closed 3.16 points or 0.18% higher today at its intraday high on bargain hunting and after news reports indicated US President Donald Trump as saying he will delay an increase in tariffs on Chinese goods, due to productive trade talks.

At 5pm, the KLCI closed at 1,724.58 points on bargain hunting, after falling to its intraday low 1,717.41. The KLCI closed higher, lifted by KLCI stocks, including Petronas Dagangan Bhd and Malaysia Airports Holdings Bhd.

Petronas Dagangan and Malaysia Airports ended among Bursa Malaysia top gainers.

The KLCI could have also taken cue from Mainland China shares, which closed substantially higher today on news of the tariff delay. The Shanghai Stock Exchange Composite rose 5.6%, while the CSI300 gained 5.9%.

Reuters reported a surge in Shanghai shares led Asia higher on Monday, after Trump confirmed he would delay a planned hike in tariffs on Chinese imports, as talks between the two sides made "substantial progress".

In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the postponement of the much-watched tariff was well-accepted by global investors.

“But we still have to keep a close watch; there is still uncertainty on the final decision,” Wong said.

Across Bursa Malaysia, 2.62 billion shares were traded for RM2.15 billion. Leading gainer Petronas Dagangan closed up RM1.60 at RM28.40.

Gamuda Bhd ended among top active stocks and leading decliners, on news the Malaysian Government has begun talks with Gamuda to negotiate the acquisition of four highway concessions that Gamuda has a majority stake in, with the aim of abolishing toll collection at these highways.

Gamuda fell 18 sen to RM2.86 today, with some 42 million shares traded.