Malaysia: FTSE Bursa Malaysia KLCI (FBM KLCI) ended in the positive territory on Tuesday with the largest growth in a month as investors increased their bets for a possible major rally once Barisan Nasional returns to power.
The key benchmark index increased 18.31 points or one per cent to end yesterday at 1,846.51, from Monday's close of 1,828.20. The last time Bursa Malaysia had one-day gain above one per cent was on April 5, 2018.
Analysts said investors were speculating on the election result in which a rally before polling day would indicate their confidence that the sitting government would return to power.
Rakuten Trade head of research Kenny Yee said investors bought on Blue Chips weakness which had been sold down over the past month.
"Overall, market was positive possibly due to inflows of foreign funds," he added.
Among FBMKLCI component stocks, Astro Malaysia Holdings Bhd made the highest gain of 3.98 per cent yesterday, followed by RHB Bank Bhd with 3.54 per cent gain and Axiata Group Bhd with 3.52 per cent gain.
Market breadth was positive with gainers outpacing losers 677 to 281, with 405 counters unchanged, 498 counters untraded and 15 others suspended.
Volume stood at 2.35 billion units valued at RM2.80 billion.
Main Market volume rose to 1.32 billion shares, valued at RM2.60 billion, from 1.06 billion shares, valued at RM1.93 billion, on Monday.
The market will be closed tomorrow as it has been declared a public holiday for the 14th general elections.
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