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.
The FBM KLCI continues its' good run today with 6.13 points or 0.4% higher to close at 1,677.030.
The top active counter traded today was Instacom Group Bhd.
The top gainer was led by Daibochi Plastic and Packaging Industry Bhd while the top decliners included Nestle (M) Bhd and KESM Industries Bhd.
This was a continuation of an increased of 9.01 points or 0.54% yesterday.
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| FBM KLCI close at 1,677.030 |
Tenaga shares rose on news 1Malaysia Development Bhd (1MDB) was selling its power assets to China General Nuclear Power Corp. Investors could have perceived such updates as good news for Tenaga, amid concerns that Tenaga might overpay for state-owned 1MDB's power assets to bailout the company.
Today, fund managers said investors’ sentiment towards Malaysia had improved, as the country’s image seemed to be on a better footing with US and China, two of the world’s major economies, extending their hands to Malaysia recently.
The Finance Index increased 0.40% to 14135.16 points, the Properties Index dropped 0.10% to 1197.08 points and the Plantation Index rose 0.06% to 7502.73 points. The market traded within a range of 12.33 points between an intra-day high of 1673.92 and a low of 1661.59 during the session.
Brent futures for January climbed 51 cents to US$45.34 a barrel as of 0745 GMT, while U.S. West Texas Intermediate (WTI) crude was up 52 cents to the session's high of US$42.27 a barrel.
Bloomberg reported that Malaysia’s ringgit rose the most among emerging-market currencies; while stocks and bonds gained, after 1MDB strucked the deal with China General Nuclear.
Across Bursa Malaysia, there were 2.67 billion shares, worth RM2.39 billion, exchanging hands. A total of 573 stocks declined against 373 gainers.
The top active counter traded today was Instacom Group Bhd.
The top gainer was led by Daibochi Plastic and Packaging Industry Bhd while the top decliners included Nestle (M) Bhd and KESM Industries Bhd.
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