KUALA LUMPUR: Bursa Malaysia maintained its momentum to close higher on Wednesday supported by buying activities across the board.
At 5pm, FTSE Bursa Malaysia KLCI closed 1.09 per cent or 17.36 points higher at 1,615.32 versus Tuesday's close of 1,597.96.
The key index opened at 1,599.60 and traded upwards, reaching its highest level at closing bell.
The broader market saw gainers lead decliners 899 to 323 while 459 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said buying activities across the board was spurred by improving global sentiment.
Major regional indices also closed higher, spurred by positive signals from Wall Street overnight, as Federal Reserve Chair Jerome Powell's comments renewed hopes that the US central bank may begin easing later this year.
"As for the local bourse, we anticipate investor sentiment to remain positive, as the above average daily trading volume signifies a strong appetite for the market.
"Nonetheless, we do not discount the possibility of profit-taking activities.
"We expect the FBM KLCI to trend within the range of 1,600-1,620 for the rest of the week, with immediate resistance at 1,620 and support at 1,580," he said.
On the index board, FBM100 gained 1.21 per cent to 12,028.58, FBM Emas was up 1.2 per cent to 12,460.73 and FBM Ace added 1.5 per cent to 5,974.36.