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 market dropped as anticipated, with the FBMKLCI closing 1.1% lower to 1,644.41. This was in line with the global equities' decline.
US equities closed near flatline Tuesday, after a choppy trading session, as US oil prices seesawed and investors looked ahead to Federal Reserve chair Janet Yellen’s testimony.
Across the exchange, a total of 887.61 million shares, worth RM1.06 billion, were traded. Market sentiment was bearish, as decliners beat gainers by 506 to 249, while 220 counters were unchanged.
Leading the decliners were blue chips like Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd, while gainers were led by Dutch Lady Milk Industries Bhd. The top active stock was Tiger Synergy Bhd.
Across the region, Japan’s Nikkei fell 2.31%, while South Korea’s Kospi gained 1.52%. China stock markets were closed for the Lunar New Year holidays.
According to Bloomberg data, the ringgit strengthened to 4.1243 against the US dollar and traded at 2.9642 against the Singapore dollar.
Brent crude gained 2.3% to US$31.02 per barrel, while West Texas Intermediate (WTI) rose 2.1% to US$28.52 per barrel.
The drop in the global market is largely due to the growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.
US equities closed near flatline Tuesday, after a choppy trading session, as US oil prices seesawed and investors looked ahead to Federal Reserve chair Janet Yellen’s testimony.
Across the exchange, a total of 887.61 million shares, worth RM1.06 billion, were traded. Market sentiment was bearish, as decliners beat gainers by 506 to 249, while 220 counters were unchanged.
Leading the decliners were blue chips like Kuala Lumpur Kepong Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd, while gainers were led by Dutch Lady Milk Industries Bhd. The top active stock was Tiger Synergy Bhd.
Across the region, Japan’s Nikkei fell 2.31%, while South Korea’s Kospi gained 1.52%. China stock markets were closed for the Lunar New Year holidays.
According to Bloomberg data, the ringgit strengthened to 4.1243 against the US dollar and traded at 2.9642 against the Singapore dollar.
Brent crude gained 2.3% to US$31.02 per barrel, while West Texas Intermediate (WTI) rose 2.1% to US$28.52 per barrel.
The drop in the global market is largely due to the growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.
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