KUALA LUMPUR: Blue chips closed at their highest on Tuesday as funds picked up Hong Leong Bank and CIMB but overall trading volume declined sharply from the previous day.

At 5pm, the FBM KLCI was up 8.1 points or 0.47% to 1,736.84. Turnover was 1.53 billion shares valued at RM1.61bil. In terms of volume, turnover shrank by 24.6% from Monday's 2.03 billion units.

Decliners led advancers four to three or 439 losers to 339 gainers and 407 counters were unchanged.

Hong Leong Bank was the top gainer and its 44-sen gain to RM20.94 added 1.71 points to the KLCI. CIMB added 10 sen to RM6.03 and nudged the KLCI up 1.68 points while RHB Bank rose three sen to RM5.33. Public Bank was flat at RMRM24.98 and Maybank shed three sen to RM9.55.

MISC saw some firm buying inteest, climbing 13 sen to RM5.68 and giving the KLCI a 0.96 of a point boost, IHH rose five sen to RM5.15, Genting Bhd 10 sen to RM7.26 and Tenaga four sen to RM14.62.

As for oil and gas stocks, Petronas Gas rose 12 sen to RM18.36, Dialog gained nine sen to RM3.41m Petronas Daganagan added six sen to RM26.26 and Petronas Chemical was flat at RM9.40.

Among glove makers, Top Glove rose 38 sen to RM11.60 after its strong results and utlook. 

IOI Corp rose four sen to RM4.53 and lifted the KLCI up 0.45 of a point, PPB Group and KL Kepoing gained four sen each also to RM16.94 and RM24.92 while Sime Plantation was up two sen to RM5.20.

As for telcos, Maxis fell four sen to RM5.47, Telekom and Digi rose one sen each to RM2.58 and RM4.40 while Axiata was ucnhanged at RM3.90 and Maxis four sen lower at RM5.47.