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.
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| FBM KLCI rose 6.22 points |
The celebration of love seems to continue, as the market celebrate post-Valentine's day with an uptrend.
FBM KLCI closed at 1,649.96 points after rising to an intraday high of 1,661.34. This was an increase of 6.22 points or 0.4%. The market basically had a good day as most Asian stock index rose as well.
Japan's Nikkei 225 jumped 7.16%, South Korea's Kospi gained 1.47% while Hong Kong's Hang Seng rose 3.27%.
Some of the positive news are coming through after a losing streak last week, as China's central bank fixed the yuan sharply stronger, easing fears of depreciation for now, though a string of weak data from Japan to China and Indonesia suggested the bounce may be short-lived.
On the broader market, Bursa Malaysia saw a total of 1.54 billion shares worth RM1.54 billion traded. Gainers outnumbered decliners at 497 against 297.
Hubline Bhd was the most-actively traded stock. The leading gainers included United Plantations Bhd and British American Tobacco (M) Bhd.
The bad news persist for Shell Refining Co. though as the company lead the top loser's table today.
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