The local bourse was driven by bargain hunting in financial, energy sectors, says analyst.
KUALA LUMPUR: Bursa Malaysia ended higher today, driven by bargain-hunting in selected financial and energy blue chips amid a mixed performance in regional markets, dealers said.
“Rising crude oil prices are amplifying inflation concerns which may cause central banks to reconsider their stance on interest rates. “Hence, we anticipate the benchmark index to trend within the 1,455-1,475 range for the rest of the week. The barometer index opened 0.18 points higher at 1,455.01 and moved between 1,454.25 and 1,463.04 during the session.
CIMB and Mr DIY were the top two contributors towards the local benchmark index’s uptrend with a total of 2.31 points, rising 7 sen each to RM5.72 and RM1.52, respectively. The FBM 70 Index jumped 131.18 points to 14,305.93 while the FBM ACE Index added 21.04 points to 5,229.92.
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