KLCI up 13.22 points as Bursa share-trade value swells to RM4.52 bil

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KUALA LUMPUR (May 28): The FBM KLCI closed 13.22 points or 0.83% higher today at its intraday high, driven by bargain hunting and as world markets took cue from China share gains.

At 5pm, the KLCI closed at 1,614.57 as share-trade value across Bursa Malaysia swelled to RM4.52 billion after 2.4 billion shares changed hands. Yesterday, share trade value and volume stood at RM1.29 billion and 1.6 billion shares respectively.

Today, Malacca Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com: "KLCI advanced today mainly led by bargain hunting and we also reckon that the foreign selling flow of Malaysian equities was showing a muted response.”

Bursa Malaysia top gainers included Nestle (M) Bhd, Public Bank Bhd and Tenaga Nasional Bhd.

Top decliners included Hong Leong Bank Bhd, AEON Credit Service (M) Bhd and Tong Herr Resources Bhd.

Across Asia, Japan's Nikkei 225 closed up 0.37% while South Korea's Kospi climbed 0.23%. In China, the Shanghai Stock Exchange Composite ended up 0.61% while Hong Kong's Hang Seng rose 0.38%.

Reuters reported that Asian shares rose on Tuesday, lifted by gains in China and as auto firms climbed on merger news, but broad uncertainties over trade and economic growth kept investor enthusiasm in check. It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.38%, and US S&P 500 e-mini futures rose 0.22% to 2,837.25, pointing to gains when US markets reopen on Tuesday after a holiday.