KUALA LUMPUR: Bursa Malaysia closed above the 1,600 mark, ending the session on a positive note as bargain hunting boosted the index after several lacklustre performances.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.72 per cent, gaining 11.48 points to settle at 1,606.96, up from its previous close of 1,595.48.
The broader market was positive, with 683 gainers outnumbering 432 losers, while 483 counters remained unchanged.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng remains cautious given the uncertainty in foreign trading strategies.
"We reckon, if the FBM KLCI can sustain levels above 1,600 for an extended period, the mid-term outlook for the index appears positive.
"For the moment, we anticipate the benchmark index to trend within the 1,590-1,610 for the remainder of the week," he said.