THE FTSE Bursa Malaysia KLCI (FBM KLCI) recouped after a weak opening and finished in positive territory thanks to late buying on Dialog, CelcomDigi and Nestle stocks, a dealer said.

At 5pm, the FBM KLCI gained 0.4 per cent or 6.67 points to 1,452.74, the intra-day high, from Wednesday’s close of 1,446.07.

The benchmark index opened 1.73 points weaker at 1,444.34 and moved between 1,440.62 and 1,452.74 throughout the trading session.

However, market breadth remained negative, with decliners outpacing gainers by 626 to 328, while 419 counters were unchanged, 995 untraded and 63 others suspended.

Turnover expanded to 4.25 billion units worth RM4.97 billion from 3.28 billion units valued at RM2.27 billion on Wednesday.

Rakuten Trade equity research vice-president Thong Pak Leng said the regional markets closed mostly higher, driven by late buying activity, with investors anticipating a potential interest rate cut by the US Federal Reserve (Fed) next year.

The latest US data underscores a resilient economy in the third quarter (3Q) 2023 and a simultaneous decline in inflation, heightening the likelihood that the Fed might consider implementing interest rate cuts earlier than originally projected.