Bursa Malaysia ends on a high note, with telecommunications and property stocks driving late rally
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.27 points, or 0.15 per cent, to 1,542.49 from Wednesday's close of 1,540.22.
The exchange was closed on Thursday for the Labour Day holiday.
The market bellwether opened 2.80 points lower at 1,537.42 and subsequently slid to a low of 1,532.23 in early trade before crawling back up to its intraday high at closing.
Market breadth was positive with 744 gainers thumping 311 decliners, while 449 counters were unchanged, 840 untraded, and 20 suspended.
Turnover improved to 2.73 billion units valued at RM2.46 billion against Wednesday's 2.56 billion units valued at RM2.25 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices edged higher after China signalled it is evaluating potential trade talks with the US.
'This development helped lift market sentiment and attracted foreign funds into the region.
'China's Commerce Ministry stated that the US had recently expressed interest in resuming discussions and China is currently assessing the proposal,' he told Bernama.
On the domestic front, Thong remains optimistic about the easing trade tensions between the world's two largest economies, although he remains cautious pending the outcome of ongoing discussions.
Among the heavyweights, Sunway Bhd added 24 sen to RM4.79, IHH Healthcare rose 13 sen to RM7.05, Gamuda garnered 16 sen to RM4.40, IOI Corp climbed six sen to RM3.72, and CelcomDigi perked up three sen to RM3.85.
As for the active stocks, market debutant Reach Ten and Tanco climbed two sen each to 54 sen and 88 sen respectively, Nationgate rose 16 sen to RM1.52, Jaks Resources improved 2.5 sen to 12 sen, and Avangaad was flat at 27.5 sen. — Bernama
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