KUALA LUMPUR: The FBM KLCI vacillated between gains and losses before closing above the 1,600-point level on Wednesday, in sync with the performance of its regional peers.

       The benchmark index closed up 3.59 points, or 0.22% to 1,603.20 after rising to an intraday high of 1,613.71.

       There were 464 gainers, 464 losers and 430 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.38 billion shares valued at RM2.86bil.

       In terms of fund flows, local institutions and retailers were net sellers on Tuesday disposing of equities worth RM300mil and RM27mil respectively.

       Foreigners emerged as net buyers with total purchases valued at RM327mil.

       “Along with the strong net buying from foreign funds over the past seven consecutive trading sessions, we reckon that the positive run could continue and as the key index’s underlying tone is still broadly positive,” Malacca Securities said.

       Dealers said the de-escalation of tensions between Russia and Ukraine also lifted investors’ risk appetite and foreign investors were seen returning to the market.

       On Bursa Malaysia, MPI jumped RM1.16 to RM38.14, Sam Engineering rose 94 sen to RM23.54, Nestle added 60 sen to RM134.50 and Batu Kawan advanced 44 sen to RM25.74.

       Among the decliners, PIE Industrial lost 23 sen to RM2.77, Genting Plantations fell 15 sen to RM7.88, F&N shed 14 sen to RM23.84 and Hengyuan eased 14 sen to RM4.21.

       Among the heavyweights, Maybank rose seven sen to RM8.69, Genting Malaysia added three sen to RM2.93, Press Metal gained 16 sen to RM7 and Telekom Malaysia climbed 13 sen to RM5.48.

       Regional markets closed higher today with Japan’s Nikkei 225 jumped 2.2% to close at 27,460.40

       Hong Kong’s Hang Seng index was up 363.19 points, or 1.49%, at 24,718.90.

       China’s CSI300 was up 0.39% to 4,617.99 while the Shanghai Composite index rose 0.57% at 3,465.83.