KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak tabled Budget 2016 in the Dewan Rakyat on Friday. Najib, who is also Finance Minister, said the theme of the 2016 Budget is “Prospering the Rakyat”. The following are the highlights of his speech: * RM267.2bil has been allocated under Budget 2016, compared with the revised RM260.7bil in 2015. * There will be nine high-impact domestic projects worth RM6.7bil in total. * The first priority of Budget 2016 is to spur domestic investment to contribute 26.7% to the GDP in 2016. * The Budget aims to increase private investment to RM218.6bil and public investment to RM112.2mil. * The GST sum is to be credited into value of prepaid reloads from Jan 1 next year. * Personal income tax pushed to 26% from 25% for those earning between RM600,000 to RM1mil. Income tax is also pushed up to 28pc from 25% for those earning RM1mil and above. * RM900mil is proposed for the Jalan Tun Razak Traffic Dispersal Project to reduce congesti...