KLCI up on late bargain hunting

KUALA LUMPUR: The KL Composite Index rose to close at the day’s high, as investors nibbled on select stocks towards the closing bell after spending the better part of the day watching from the sideline.

Local sentiment turned positive in the last hour of trade, propped up by strong advances in bourses in China, Taiwan, South Korea and Indonesia and India

The local benchmark gained 4.16 points, or 0.4% to 1,079.40 points. Losing stocks outnumbered risers 219 to 388, while 203 counters were unchanged.

The broader FBM Emas index closed 0.2% higher at 7,222 points, while the FBM Small Cap index narrowed earlier decline to end at 9,001 points, down 0.8% for the day.

Market turnover was 826 million shares worth RM886mil.