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 index gained 4.13 points or 0.25% on Monday.
The Finance Index increased 0.42% to 14149.89 points, the Properties Index up 0.27% to 1194.87 points and the Plantation Index rose 0.38% to 7458.45 points.
The market traded within a range of 7.37 points between an intra-day high of 1675.96 and a low of 1668.59 during the session.
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| FBM KLCI gained 4.13 points |
The increase was mainly due to higher crude palm oil (CPO) prices.
Export-oriented counters such as glove counters were performing quite well today.
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| Top active for the day |
The most actively-traded counter was XOX Bhd while the leading decliner was British American Tobacco (M) Bhd.
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| The leading decliner was British American Tobacco (M) Bhd |
Bursa Malaysia's top gainer is Top Glove Corp Bhd.
Across Asia, Japan's Nikkei 225 rose 0.99%, while South Korea's Kospi closed 0.54% lower. Hong Kong's Hang Seng fell 0.15%.
Reuters reported Asian share markets turned mixed on Monday, as caution grew ahead of Chinese data, though sentiment stayed, supported by hopes the US economy would be able to handle an expected first increase in interest rates in almost a decade.
U.S. crude futures for front-month delivery fell below US$40 per barrel on Monday, after the Organization of Petroleum Exporting Countries (OPEC) failed last week to agree on output targets to reduce a bulging oil glut that has cut prices by over 60% since 2014.
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