Malaysia's key stock index surged past the 1,000 psychological barrier Tuesday to hit a 6 1/2-year high on renewed interest from foreign and local funds.
The Kuala Lumpur Composite Index of 100 blue chips rose 1 percent to 1,003.28, the highest close since March 2000.
Dealers said the market may strengthen over the next few days as institutional funds appeared to be snapping up stocks in potentially high earnings growth sectors such as construction and plantation.
Among the biggest movers, plantation firm KL Kepong soared 4.8 percent to 13.10 ringgit and IOI Corp. was up 2.2 percent at 18.40.
Conglomerate YTL Corp. gained 3.7 percent at 5.65 ringgit, MMC Corp. surged 8.9 percent to 3.66 after it landed a project in Saudi Arabia and Malaysia Airlines rose 5.7 percent to 3.70.
The Kuala Lumpur Composite Index of 100 blue chips rose 1 percent to 1,003.28, the highest close since March 2000.
Dealers said the market may strengthen over the next few days as institutional funds appeared to be snapping up stocks in potentially high earnings growth sectors such as construction and plantation.
Among the biggest movers, plantation firm KL Kepong soared 4.8 percent to 13.10 ringgit and IOI Corp. was up 2.2 percent at 18.40.
Conglomerate YTL Corp. gained 3.7 percent at 5.65 ringgit, MMC Corp. surged 8.9 percent to 3.66 after it landed a project in Saudi Arabia and Malaysia Airlines rose 5.7 percent to 3.70.
