At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 5.65 points, or 0.39% to close at 1,436.70.

The key index, which opened 0.25 of-a-point higher at 1,431.30, moved between 1,431.30 and 1,440.73 throughout the day.

On the broader market, gainers beat decliners 519 to 345, while 405 counters were unchanged, and 1,020 untraded.

Total turnover expanded to 2.46 billion units worth RM1.47 billion from 2.34 billion units worth RM1.56 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI trended higher due to bargain-hunting activities amid improving sentiment across the region. “Key regional markets continued to trend higher in response to positive cues from Wall Street overnight,” he told Bernama.

Rakuten has been cautiously optimistic given the overall improved sentiment both regionally and globally, with the local market in an oversold position.

“Nonetheless, investors should remain cautious as the market has been turbulent in recent weeks, with investors trying to determine whether a recession is looming,” he said.

Looking at the increasing market volatility, Thong anticipates the FBM KLCI to trend in a wider range of 1,430-1,460 next week, with immediate support at 1,430 and resistance at 1,490.

Among Bursa Malaysia heavyweights, Inari Amertron added seven sen to RM2.60, Hartalega rose four sen to RM2.78, IHH Healthcare gained six sen to RM6.42, and Maybank was up four sen to RM8.60, while Top Glove was unchanged at RM1.05.