KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday supported by buying activities from local and foreign institutions. 

At 5pm, FTSE Bursa Malaysia (FBM) KLCI closed 0.13 per cent or 2.05 points higher to 1,561.64 on Tuesday versus 1,559.59 on Monday's close.

The benchmark index opened at 1,559.81 and hit the highest level for the day at 1,567.57. 

The broader market was positive with gainers leading decliners 641 to 402 while 508 counters were unchanged. 

On the index board, FBM 100 added 0.25 per cent to 11,358.26, FBM Emas was up 0.27 per cent to 11,715.04 and FBM Ace rose 0.58 per cent to 4,958.15. 

Nestle (M) Bhd came in as top gainer adding RM1.70 to RM126.40. On the losing end, Malaysian Pacific Industries shed 36 sen to close in the red at RM29.98. 

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the FBM KLCI is on its way to test the 1,570 resistance. 

"We reckon if this level is breached and able to hold for a longer period, we believe that the benchmark index is positioned to advance further. 

"As such, we anticipate the FBM KLCI to trend within the range of 1,550-1,570  for the rest of the week," he said. 

Thong noted regionally, key regional indices also finished higher following positive cue from global equities on hope for strong earnings from tech giants this week.

"The strong earnings helped to offset worries about the Federal Reserve's interest rate plans ahead of the release of key US growth and inflation data while at the same time investors were encouraged after Middle East tensions eased. "

https://www.nst.com.my/business/corporate/2024/04/1041699/bursa-malaysia-closes-higher-local-foreign-institutions-return