KUALA LUMPUR: Bursa Malaysia ended its six-day losing streak on Tuesday, boosted by bargain hunters and supported by positive sentiment across major Asian markets following upbeat Chinese economic data and gains on Wall Street.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.86 points or 0.54 per cent to 1,660.35 from Monday's close of 1,651.49.
The benchmark index opened 2.31 points lower at 1,653.80 and fluctuated between 1,649.53 and 1,661.09 throughout the day.
On broader market, losers outnumbered gainers 501 to 479, while 520 counters unchanged, 955 untraded and six suspended. Turnover was 3.05 billion units worth RM3.78 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key index bounced back as bargain hunters stepped in.
This, he said, was driven by positive sentiment across major Asian markets following upbeat economic data from China and gains from Wall Street.
"Even with improved market conditions, we are cautiously optimistic on the local market due to reduced trading volumes and the potential for changing investor expectations.
"We anticipate the FBM KLCI will continue trading sideways, moving within the 1,650 and 1,670 range until more information about the US rate cut is available," he added.