KUALA LUMPUR: Bursa Malaysia maintained its momentum to close higher on Wednesday buoyed by bargain hunting activities following Monday's panic sell-offs.
FTSE Bursa Malaysia (FBM) KLCI was up 1.11 per cent or 17.48 points to 1,591.87 versus Tuesday's close of 1,574.39.
The key index opened at 1,576.12 and moved between 1,563.77 and 1,596.60 throughout the day.
On the broader market, losers led gainers 1,316 to 155 while 267 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said key regional indices also rebounded supported by bargain hunting.
"We believe the fundamentals of Malaysian equities remain strong and expect buying to continue.
"At the current level, the FBM KLCI remains in an oversold position. If the benchmark index is able to surpass the 1600 resistance level, the chances of a further uptrend are higher," he said.