KUALA LUMPUR: Foreign funds were net buyers on Bursa Malaysia on Tuesday with net buying at RM61.4mil, according to BIMB Securities Research data.
It said on Wednesday local funds were net sellers at -RM28.6mil and retail net sellers also at -RM32.8mil.
“We expect the local market to remain positive today due to improved global sentiment with immediate resistance at 1,670,” it said.
BIMB Research said the FBM KLCI closed up 14.92 points on Tuesday to end at 1,662.51 with strong gained in banking and telco stocks.
Shares in Europe extended their gains for the third day as higher oil prices propped up the region’s energy companies.
Overnight on Wall Street, stocks ended mixed as a selloff in biotechnology and healthcare stocks overshadowed gains in energy and materials sectors.
The DJIA gained 0.08% to end at 16,790.19 while S&P500 fell 0.36% to 1,979.92.
In Asia, key indexes ended mostly higher following a Trans-Pacific Partnership Agreement deal.
-The Star Online