KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday buoyed by continuous interest in plantation stocks.
Late buying also lifted the index further as investors anticipated a favourable outcome from tomorrow's Bank Negara MPC meeting on the direction of the Overnight Policy Rate (OPR).
At 5pm, FTSE Bursa Malaysia (FBM) KLCI rose 0.26 per cent or 4.27 points to 1,620.70 versus Monday's close of 1,616.43.
The broader market saw gainers led decliners 512 to 476 while 496 counters were unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the firm maintained a cautiously optimistic outlook on the local bourse.
"While market sentiment has shown signs of improvement, we recognise that investor expectations may fluctuate with shifts in the macroeconomic landscape.
"Nonetheless, we anticipate a positive spillover from China's stimulus efforts, which could have beneficial effects on regional markets, including Malaysia," said Thong.
The firm maintained its weekly FBM KLCI target at 1,610-1,630, representing key support and resistance levels.