KUALA LUMPUR: The FBM KLCI maintained its steady trend to close higher on Thursday, as the positive sentiment continued to fuel investors’ risk appetite.

       The benchmark index closed up 19.56 points, or 1.24% to 1,590.88, its highest in about two weeks.

       There were 756 gainers, 296 losers and 402 counters traded unchanged on the Bursa Malaysia. Trading volume was brisk at 3.49 billion shares valued at RM3.71bil.

       Dealers said the performance on the local bourse was supported by growing buying interest and bargain-hunting activities.

       In terms of fund flows, local institutions and retailers were net sellers on Wednesday offloading equities worth RM330mil and RM66mil respectively.

       Foreigners emerged as net buyers with total purchases valued at RM396mil.

       On Bursa Malaysia, Malaysian Pacific Industries was the top gainer, jumping RM3.64 to RM35.20, followed by Nestle, which added 80 sen to RM135.80 and ViTrox, which rose 75 sen to RM7.22.

       Kuala Lumpur Kepong fell 82 sen to RM25, Bintulu Port shed 30 sen to RM4.90, Ta Ann declined 29 sen to RM4.70 and Heineken fell 28 sen to RM21.42.

       Among the banks, Maybank added eight sen to RM8.98, Public Bank rose 11 sen to RM8.98, CIMB gained 18 sen to RM5.48, RHB Bank advanced 12 sen to RM5.98 and Hong Leong Bank jumped 44 sen to RM20.64.

       Meanwhile, Brent crude added US$3.18 to US$101.20 a barrel while US crude oil was up US$3.16 to US$98.20 per barrel.

       Separately, gold prices gained as the US Federal Reserve raised interest rates by 0.25% as expected.

       Spot gold rose 0.62% to US$1,939.31 per ounce while spot silver rose 0.86% to US$25.31 an ounce.