KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
As everyone from Ted Turner to Drake has said, the hardest part of getting rich is making the first million. The rest just comes naturally.
The fact that wealth begets more wealth was illustrated once again last year by Bill Gates and Warren Buffett, currently the two richest people on Earth. According to Bloomberg, the pair finished 2014 a combined $21.1 billion richer than when the year began. (Gates' fortune rose $8.1 billion to a total of $86.6 billion. Buffett's rose $13 billion; he's now worth $73.8 billion.)
Gates and Buffett are aware of their privilege. They have both advocated for higher taxes on the wealthy. They have also poured billions of their own money into the Bill & Melinda Gates Foundation, one of the world's largest funders of charitable causes like infectious disease research, poverty reduction, and (more controversially) education reform.
Source: Mother Jones
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