KUALA LUMPUR: Bursa Malaysia closed higher in tandem with the performance of the regional market and overnight rally in the US.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.32 points, or 0.32 per cent, to 1,635.29, from Friday's close of 1,629.97.
The benchmark index, which opened 3.61 points better at 1,633.58, moved between 1,628.12 and 1,637.29 throughout the session.
On the broader market, gainers outpaced decliners 548 to 476, with 529 counters unchanged, 865 not traded and 15 suspended.
Turnover slid to 2.76 billion units valued at RM2.74 billion from Friday's 3.10 billion units valued at RM2.67 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI rebounded today, buoyed by bargain hunting in sectors like commodities, consumer goods and gaming.
Thong said investor sentiment improved following a rally on Wall Street, where a stronger-than-expected non-farm payrolls report provided a major boost to investor confidence.
Meanwhile, China's top economic planner is scheduled to hold a briefing on Tuesday, where it will outline additional stimulus measures for the country, following a series of robust steps taken in late September.
"We remain cautiously optimistic that these developments could support a stronger global economic outlook," he said.
However, Thong said investors should remain cautious given the ongoing market volatility and geopolitical uncertainties, particularly the tensions in the Middle East.
"While the FBM KLCI showed some rebound today, it remains in consolidation mode.
"We expect it to move sideways, leaning towards an upward bias, within the 1,630-1,650 range for the week," he added.
Among the top gainers, Petronas Dagangan Group Bhd gained 48 sen, or 2.68 per cent to RM18.42. PPB Group Bhd rose 40 sen to RM14.80, Hong Leong Industries Bhd added 38 sen to RM13.80 and Quality Concrete Holdings Bhd climbed 19 sen to RM1.22.