KUALA LUMPUR: The FBM KLCI snapped its losing streak to close higher on Wednesday, as high crude palm oil (CPO) prices shored up plantation stocks.

       At 5pm, the FBM KLCI was up 9.18 points or 0.58% to 1,586.14. About 2.97 billion shares, valued at RM2.68bil, changed hands.

       On the broader market, gainers trounced losers by 621 to 372, while 402 counters were unchanged.

       At the close on Tuesday, the CPO futures contract for March 2022 rose RM169 to RM6,117 a tonne, April 2022 increased RM153 to RM5,895 a tonne, May 2022 surged RM139 to RM5,675 a tonne and June 2022 soared by RM126 to RM5,491 a tonne, Bernama reported.

       Kuala Lumpur Kepong and PPB Group added 40 sen each to RM25.40 and RM17.90 respectively. IOI Corp gained two sen to RM4.42 while Sime Darby Plantation closed unchanged at RM4.65.

       Batu Kawan jumped 60 sen to RM25.14 and FGV added three sen to RM1.89.

       Among the banks, CIMB rose five sen to RM5.55, Maybank added five sen to RM8.77, RHB Bank climbed three sen to RM5.69, Public Bank gained two sen to RM4.36 and Hong Leong Bank lost four sen to RM19.86.

       On the broader market, MPI jumped RM1.40 to RM36.30, Pentamaster added 37 sen to RM3.60, Malaysia Smelting Corp gained 37 sen to RM3.60, Sam Engineering lost 66 sen to RM21.32 and United Malacca fell 30 sen to RM5.52.

       On the external front, MSCI's broadest index of Asia-Pacific shares ex Japan rose 0.3%. Japan's Nikkei was closed for the Emperor's birthday holiday.

       South Korea’s Kospi closed up 12.74 points, or 0.47%, at 2,719.53.

       China’s CSI300 index rose 1.1%, to 4,623.05, while the Shanghai Composite Index gained 0.9% to 3,489.15.